Data-driven decision -making Archives

Unraveling Insights from Big Data for Better Decision Making – By Bhanuka- eLanka In today’s digital age, data has become the lifeblood of businesses across industries. With the exponential growth of data, organizations are increasingly turning to big data analytics to derive valuable insights that drive informed decision-making. In this article, we delve into the world of big data analytics, exploring its significance, methodologies, and the transformative impact it has on businesses. The Significance of Big Data Analytics: In a world inundated with data, the ability to extract actionable insights is paramount. Big data analytics offers the capability to process vast volumes of structured and unstructured data, uncovering patterns, trends, and correlations that traditional analytics methods may overlook. By harnessing the power of big data, organizations can gain a comprehensive understanding of their operations, customers, and market dynamics. Methodologies of Big Data Analytics: Big data analytics encompasses a diverse range ...

Data-driven decision-making for economic prosperity and good governance – II By Dr. Ranga Prabodanie Source:island.lk By Dr. Ranga Prabodanie (The first part of this article appeared yesterday (05) The previous part of this article series explained how the great insurgence of digital data has revolutionized the institutional decision-making process in both business and governance. This latter part will look at the Sri Lankan context: Where we are currently and the way forward to a data-driven decision-making culture. Let’s first have a glance at how decisions are made in data-intensive public services. Education Schools, universities and vocational training institutions, throughout the country, collect, record and report data on admissions, enrolment, completion, drop-outs, results, graduations and expenditure for various programmes, courses and subjects. The Examinations Department does have digital records of GCE O/L and A/L results. However, the data is used only for the preparation of annual statistical reports, rather than for ...