Identify business decision that has become more data-driven

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Question - Identify a business decision that has become more data-driven, such as evaluating loan applications or trading stocks. Describe how this decision is made without the help of data analytics.

Consider how a system 2 mindset was used, or could be used, to employ data to automate the decision so that it requires more of a system 1 mindset. Describe the process of using data to automate the decision. Consider describing aspects related to accessing and assembling data, analyzing the data, upgrading the technology and human capital; and necessary changes to the organizational culture so that the output from the data analyses is acted upon.

Consider how the automated business decision has or might require a system 2 mindset either through a failure in the automated version of the decision, or the desire to automate a related business decision. Describe the factors that require a system 2 mindset to be brought to bear on the automated decision described here.

Reference no: EM133276785

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