A Dissertation on Improving Decision-Making with Inferential Statistics

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 A Dissertation on Improving Decision-Making with Inferential Statistics

My dissertation is on the application of inferential statistics to decision-making. I

intend to investigate how organizations can utilize inferential statistics to make more

informed decisions (Petcharat, 2021). In an era of abundant data, extracting relevant

insights from data to make informed decisions has become increasingly important. My

research will investigate the application of hypothesis testing, regression analysis, and

Bayesian inference to decision-making across industries and scenarios. The primary

objective is to develop a framework that enables decision-makers to use inferential

statistics to enhance their decisions' accuracy, efficiency, and effectiveness.

Goals

1. My first objective for this semester is to conduct a literature review to identify the

most important theories, methods, and empirical research related to inferential

statistics and decision-making. This will be the basis of my investigation.

2. Collect and evaluate real-world information using inferential statistical methods

(Zhang et al., 2022). This will help me comprehend the impact of inferential statistics

on decision-making.

3. Incorporate inferential statistics into decision-making processes as a key milestone of

framework development. This framework is the primary contribution of my

dissertation.

4. Comments and Revision: I will proactively solicit advisor and peer feedback to

enhance the rigour and validity of my research.

Improvement Areas

Data collection is crucial for development; I required sophisticated sources and enhanced

cleansing and preprocessing. Research applicability across enterprises and organizations

is essential, and I must ensure that a framework is adaptable to diverse decision-making

circumstances.

Struggles

Complex statistical methods and instruments may necessitate additional instruction and

assistance. Another issue is managing time to complete dissertation milestones while

juggling academic and personal obligations.

Conclusion

My dissertation will highlight the significance of inferential statistics in the decision-

making process. I plan to make substantial research advancements by the end of the

semester, addressing areas for development and overcoming obstacles to contribute to

decision science.
 References

Petcharat, T., & Leelasantitham, A. (2021). A retentive consumer behaviour assessment

model of the online purchase decision-making process. Heliyon, 7(10).

Zhang, H., Zang, Z., Zhu, H., Uddin, M. I., & Amin, M. A. (2022). Big data-assisted

social media analytics for business models for business decision-making system

competitive analysis. Information Processing & Management, 59(1), 102762.