ONLY 2 PARAGRAPHS I NEED IN THE NEXT 10 MINUTES
I WROTE
n any business decision, accuracy of information plays a vital role in making an actual business decision. The good decisions are mostly data driven. Any obtained statistics acts as a vital evidence source since they provide people with clear as well as objective reasons for making a good decision. The decisions of a business in the market depends on estimates and the more accurate a piece of information is, the better the acquired estimates. The estimates got are exactly what one uses in making a particular decision. For instance, in the article Better living Through Statistics, the given additional new information increases the probability of the baseball winning (Bernstein &Ryan, 2003). On the same basis, in a business event requiring a crucial decision, working from a probability on the grounds we stand is important. From the milestones the business has previously made, one can predict its estimated future success. Any additional information provided to the business decision makers, increases the probability that they will make a more accurate business decision. For example, in a ticket selling business, the average tickets produced on a good cinema day can act as the basis for making predictions of how many tickets the business needs to print on an upcoming event. Any additional information such is it a new series? Is the cinema night raining? Are there targeted special guests? And advertisements made increases the probability predictions. Therefore, any new additional information increases the accuracy. Through increasing such information’s, the market players get a better chance of making an actual decision regarding the given business.
TEACHER ASKS
More information is definitely a plus. Is there a point where it becomes a problem? What other considerations much we keep in mind as we collect data to best insure we are getting the maximum benefit?
CAN SOMEONE HELP ME WITH THE ANSWER I NEED IN THE NEXT 10 MINUTES ONLY TWO PARAGRAPHS
11 years ago
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