Question

E-commerce creates a great deal of data on how consumers interact with a website. L.L.Bean keeps records that show how quickly consumers make decisions, how many alternatives they explore, and whether they stop without completing a purchase. When a manager sees an issue and proposes a solution, the company can easily test the solution. This is an example of:

Answer 1

Answer:

Evidence based decision-making

Explanation:

Evidence-based decision-making uses research as the backbone for making decisions. It ensures that proper investigations are done before any decision is made.

This decision making technique carries out an in-depth analysis of empirical data collected from targeted sources. The decisions made are based on the following type of evidence:

1. Ethical evidence: research based on social justice to guide in making ethical decisions.
2. Statistical modeling: using regression methods to make decisions in organizations.
3. Impact evidence: making investigations based on the impact on others.
4. Implementation evidence: considering the implementation and delivery success, after proper investigation.

L.L. Bean works with the records of how quick customers make decisions and whether they complete their purchase. This means that they suggest solutions based on the evidence retrieved from the data.