In the context of Data Science, the concept of "data-driven decision-making" primarily emphasizes on what?
- Making decisions based on intuition
- Using data to inform decisions
- Speeding up decision-making processes
- Ignoring data when making decisions
"Data-driven decision-making" underscores the significance of using data to inform decisions. It implies that decisions should be backed by data and analysis rather than relying solely on intuition. This approach enhances the quality and reliability of decision-making.
Loading...
Related Quiz
- You're building a system that needs to store vast amounts of unstructured data, like user posts, images, and comments. Which type of database would be the best fit for this use case?
- Which NLP technique is used to transform text into a meaningful vector (or array) of numbers?
- In datasets with multiple features, the _______ plot can be used to visualize the relationship between variables and detect multivariate outliers.
- A retailer wants to forecast the sales of a product for the next six months based on the past three years of monthly sales data. Which time series forecasting model might be most appropriate given the presence of annual seasonality in the sales data?
- In time series forecasting, which method involves using past observations as inputs for predicting future values?