DATA-DRIVEN DECISION MAKING IN MODERN ENTERPRISES: BRIDGING ACCOUNTING SYSTEMS, OPERATIONS RESEARCH, AND STRATEGIC MANAGEMENT

Abstract

Data-driven decision making, also known as DDDM, is an important method that may be used in this era of digital transformation to enhance the performance of a business and gain a competitive edge.   Accounting systems, operations research, and strategic management are three disciplines that have lately come together, and this study investigates how design-driven decision making (DDDM) fits into this picture for modern firms. By performing studies using optimisation, simulation, and predictive modelling, which are all approaches that fall under the category of operations research, strategic decision-makers may be able to profit from the organised financial data that is offered by accounting systems. The integration of these domains enables managers to make choices that are well-informed, backed by facts, and contribute to the accomplishment of both short-term and long-term goals.   The adoption of this multidisciplinary perspective has the potential to foster the development of a company that is more agile, responsive, and value-driven, as well as more suited to deal with complex and ever-changing business environments.   Some of the technological enablers that are mentioned in the report as contributing to this integration include big data analytics, artificial intelligence, and enterprise resource planning (ERP) systems. Through the process of bridging these formerly compartmentalized functions, businesses may be able to unleash new opportunities for innovation, resource efficiency, and sustainable growth.