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Explain how increasingly standardized data, access to third-party datasets, and current trends in hardware and software...

Explain how increasingly standardized data, access to third-party datasets, and current trends in hardware and software are collectively enabling a new age of decision making?

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The availability of data and the development of new technologies has made access to information much easier. For decision makers in the business world, as well as other fields, the ability to gather information about a decision they face is unparalleled from what it was in the past. Decision makers can use tools like statistical analysis software that relies on high-quality data to determine market trends, correlations, and other insights in order to make better business choices and strategies. Statistical analysis has been around for some time, but it is far more powerful now as regression models rely on large quantities of quality data to produce accurate results.

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