Abstract:

The effective use of data, information and appropriate technical and software equipment is a hot topic which impact on business success is growing and has many applications. Decision-making is an integral part of managerial work. It is influenced by different aspects, highlighting the influence of suitable available information collected via information and communication technology in recent years.  Data-driven decision-making, i.e., the process of data-based decision-making that includes gathering data, transforming it into information and applying gained knowledge, has become a need rather than a simple competitive advantage. This paper aims to gain insight into the possible application of data-driven decision-making in enterprises via a qualitative content analysis of secondary data. Four case studies that adhered to three chosen parameters (the main theme related to data-driven decision-making or was otherwise directly linked to the effective use of data in the decision-making process; the publication date was no older than 2019; the use of primary research methods) were analyzed. The results indicate that implementing data-driven decision-making in enterprises has several benefits, including increased supply chain efficiency, communication flows, and customer loyalty. Better data transfers also appeal to reduced decision-making time and improved customer relationships. Organizations that fail to use business intelligence tools and engage in low rates of data analysis can lack the ability to make effective decisions based on data. Barriers that can inhibit the effective adoption of data-driven decision-making procedures in organizations include incomplete data, insufficient data quality, lack of internal resources, negative staff attitudes or lack of experience.