DIGIB555-24A HAM (Weekly Activity 1)

Part - A

1) What did you learn about the topic that you didn’t know before?
I was asked to present a PPT on the topic Evaluating Data Sources for Decision-
Making – From this topic, I understand that in assessing the reliability and relevance of
data sources for making strategic business decisions, there are some criteria to be taken
into consideration for evaluating data quality. Some of the criteria are Accuracy,
timeliness, consistency, Completeness, relevance, and Credibility of data source.
Incomplete and wrong data can lead to incorrect outcomes hence bad decision-making.

2) How did collaborating with your group members influence your perspective on
the topic?
Working with my group team members changed how I see the topic. Collaborating
allowed me to gain insights from different viewpoints and expertise, broadening my
understanding and refining my opinions. Talking and sharing ideas with them helped
me understand more and think differently. Their feedback made me consider new ways
to look at things. So, collaborating made me learn more about the topic and see it from
different angles. It was my first day at the University and I am happy that I was able to
connect with my classmates even faster than usual. Collaborating with my group team
members facilitated better connections among us and encouraged us to express
ourselves more freely, making it easier to offer suggestions.

3) What skills did you develop or improve during this project?

From this project I understand the importance of maximizing information within
limited time constraints. Regarding the topic, Data plays an important role in decision-
making. More accurate and reliable data can lead to effective strategic business
decisions. Always look for reliable and complete data so that the outcome is correct
and decision-making is easy and accurate. Researchers rely on data to make a
conclusion and Decision makers rely on the data provided by the researchers.

4) If you could redo your presentation, what would you do differently?

I would make the presentation slides more attractive and explanatory by adding few
topic related pictures and I would also bullet points the main contents of the topic.
I think using pictures and diagrams helps the audience grasp the topic more easily
compared to relying solely on words. Since I was given only 3 minutes of time to
present a vast topic, I would try to manage the available time more effectively to
explain the contents to the audience.
 Part B – Additional Question
1) Evaluating Data Sources for Decision-Making: Considering the vast array of
data sources available, what specific strategies or frameworks can businesses
implement to systematically assess the credibility and relevance of data in
making high-stakes strategic decisions?

Businesses can implement several strategies and frameworks to systematically assess

the credibility and relevance of data for high-stakes strategic decisions. One approach
is to establish clear criteria for evaluating data sources, such as accuracy, reliability,
relevance to the decision at hand, and the reputation of the source.
 Check the quality of the data to ensure it is accurate and complete.
 Verify the credibility of the sources by looking at their reputation and expertise.
 Confirm the data by comparing it with other sources or getting opinions from
experts.
 Understand the context in which the data is being used and make sure it fits with
the company’s goal.
 Assess any potential risks associated with using the data.
 Keep an eye on the data over time and update your evaluation methods as needed.
 Be transparent about how you are evaluating data and document your process for
future reference.