Data-driven decision making: Introducing the DIKUW hierarchy

You do not need me to preach the importance of data-driven decision making, I am sure that job has already been fulfilled by a raft of articles, seminars and management meetings. However, not enough businesses are really taking action and making full use of the means, and the data, at their disposal. We are here looking out for you businesses, and thus it is vital to first understand the hierarchy that exists within data science, namely Data > Information > Knowledge > Understanding > Wisdom or DIKUW for short. Then we can begin to properly explain the possible steps towards better decisions. Let’s get started.
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