| Decision-making presents many challenges to decision-makers for a variety of reasons. Speed and accuracy of the decision are critical factors to its effectiveness and further complicated with downsized operational environments. Operations are also becoming more automated requiring managers to use different decision-making skills and techniques than before. Financial and operational processes produce large volumes of data; however, organizations have difficulty extracting information, knowledge, and wisdom to produce quality decisions to better ensure the organization can adequately compete and meet its operational goals. Without goals, it would be impossible to differentiate and decide what course of action to take as one action would be as acceptable as any other. Predictive analytics can facilitate a more thorough extraction of knowledge and wisdom to facilitate better quality and faster decisions.; The research problem studied was to improve decision-making using a conceptual framework for making knowledge actionable through capital formation. Key elements of the conceptual framework included data mining, knowledge management, and capital formation processes to facilitate actionable knowledge for decision-making. Knowledge management and data mining developed along independent paths though each has a clear understanding that decision-enabling knowledge is one of the most important assets of any organization. The rapidly growing volumes of computerized data has keyed the need and development of more automated ways of extracting actionable knowledge. This study found the integration of data mining and knowledge management, along with capital formation demonstrated a more decision-enhancing process, including improving decision-usefulness along the knowledge continuum---data, information, knowledge, and wisdom.; Keywords: actionable knowledge, knowledge management, data mining, organizational learning, technoware, humanware, inforware, orgaware, strategic planning, cost-benefit analysis, digital dashboards, SWOT analysis. |
