Evidence-based Decision Making: Using Business Intelligence to Drive Value  


    Many pioneering organizations throughout the world are using an emerging discipline called Evidence-based Management (EbM) as a way to improve their competitive positions. Through EbM,   organizations explicitly use evidence (the best and most appropriate information) to guide the decision-making processes to extract maximum value and competitive advantage from their data and   information.

    This management accounting guideline (MAG) provides an overview of how to apply EbM in organizations by outlining a practical five-step framework that discusses the following elements:

    1. How to define the real information needs,

    2. How to collect the right data,

    3. How to turn data into information,

    4. How to present and communicate that information, and

    5. How to turn that information into better decisions and actions.

     

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