Decision Making That Draws on Billions of Pieces of Data

question 39

Multiple Choice

Decision making that draws on billions of pieces of data that can be aggregated to reveal important trends and patterns is called ________.

• A) intuitive decision making
• B) informed decision making
• C) scientific decision making
• D) data-driven decision making

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Definitions:

Complementary Innovation

Innovations that enhance the value or functionality of existing products or services when used together.

Substitute Innovation

New products or services that replace existing ones by fulfilling the same needs or wants in a different or superior way.

RBV Perspective

Resource-Based View; a framework in strategic management that describes how the internal resources of a firm can provide a source of competitive advantage.

Resource Heterogeneity

Resource heterogeneity is the concept in strategic management that resources and capabilities differ across firms, which can lead to competitive advantages.