Semester 1 Alternative Assessment 2020/21
End-of-Module Assignment
Student Name: Mahesh Ghanti
NUI Galway ID Number: 20231287
Module Code: MS5104
Module Name: Decision Theory And Analysis
Date of Submission: 22/01/2021
20231287 MS5104 Decision Theory and Analysis Page 2 of 10
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The analytics-driven mindset has become a necessity in modern companies because of the
amount of data generated by digitalization and the fantastic success taped by analytics-driven
pioneers (Miller (2019)). This mindset has been embraced frantically by people everywhere.
Analytics-driven decision making utilizes data-driven decision-making techniques
(Davenport & T.H. (2006)). A data-driven approach is promising but can cause just as many
problems as the historic people-led model if approached in the wrong way. Some of the
pitfalls of usage of this approach in decision-making as described by Merrill, et.al (2008) are:
1. Analysis paralysis
2. Cognitive biases
3. Misinterpreted attributes leading to incorrect Conclusions
4. Locally optimized solutions
5. Loss of human touch
