Data-driven decision making is the process of using data to make informed decisions. This involves gathering relevant data and analyzing it to uncover patterns that allow for better decision-making.

Data-driven decision making is quickly becoming an integral part of the business world, and a key component of the competitive advantage of organizations. 

The primary benefit of data-driven decision making is being able to make decisions based on facts and data rather than personal opinion or guesswork.

Data-driven decisions tend to be more objective, accurate and verifiable in comparison to personal opinion or speculation.

Additionally, data-driven decisions are less likely to be influenced by biases and subjective criteria. 

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Moreover, data-driven decision making enables businesses to become more agile, allowing them to respond to changing markets and customer needs quickly.

Data-driven decision making also makes it easier to identify opportunities and gaps that can be used to the company's advantage.

Furthermore, data-driven decision making helps businesses forecast consumer trends and better understand customer behavior and preferences.

To truly benefit from data-driven decision making, organizations must have an adequate data infrastructure and analytics capability in place.

This requires collecting, storing and organizing data, as well as being able to access and analyze it in meaningful ways.

Additionally, organizations must be able to interpret the results of their data analysis in order to make data-driven decisions. 

Ultimately, data-driven decision making is an invaluable tool for businesses looking to stay ahead of the competition.

By gathering and analyzing relevant data, organizations can gain insights that enable them to make informed and objective decisions.

With the right data infrastructure and analytics in place, businesses can unlock the potential of data-driven decision making and use it to gain a competitive edge.