W1: B. de Langhe and S. Puntoni, Leading With Decision-Driven Data Analytics, MIT Sloan Management Review, Dec. 7, 2020.

Question 1

What is a major challenge in data-driven decision-making?

Answer 1

Many companies struggle to derive actionable insights from vast amounts of data.

Question 2

What is the key critique of RollingBoulder’s approach to customer churn?

Answer 2

They address the wrong question, focusing on the likelihood of churn instead of the impact of including a gift on churn.

Question 3

What is the problem with Gwenn & Jenny’s method of analyzing Twitter advertising impact?

Answer 3

Their method often exaggerates the impact of advertising due to a biased comparison group.

Question 4

What is the primary difference between data-driven and decision-driven analytics?

Answer 4

Data-driven analytics anchor on available data, whereas decision-driven analytics start with a clear decision and find necessary data.

Question 5

What are the three steps in implementing decision-driven data analytics?

Answer 5

1. Identify alternative courses of action
2. Determine necessary data.
3. Select the best course of action.

Question 6

What are the benefits of decision-driven data analytics?

Answer 6

It aligns analytics with actionable decisions, focuses on relevant questions, and challenges preconceived notions.