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Evidence$-$Based Decision Making and Data Analytics

Evidence$-$based decision making is the process of gathering and analyzing high$-$quality data to develop and implement a plan of action. This definition underscores two important processes: gathering high$-$quality data and analyzing high$-$quality data. Big data is the warehouse where information is gathered. Artificial Intelligence $($AI$)$ and analytics are different approaches organizations use to analyze large quantities of data. Whereas big data gives organizations access to information, AI and analytics generate insights to inform decisions. As a manager, it$$s important to understand how evidence$-$based management, data analytics, and big data contribute to decision making in an organization.

The goal of this exercise is to demonstrate your understanding of evidence$-$based management, big data, and data analytics.

Review the questions on evidence$-$based management, data analytics, and big data and select the best answer choice to each question.

The U$.$S$.$ Census Bureau$$s mission is to serve as the nation's leading provider of quality data about its people and economy. The Bureau wants to identify the total number of housing units in the United States. What concept would be helpful to U$.$S$.$ Census Bureau to learn the total number of housing units in the United States?

Multiple Choice

Big Data

Descriptive Analytics

Predictive Analytics

Artificial Intelligence