Relevance of Evidence Based Decision Making: Cases in Ancient and Current Scenarios

Abstract

The purpose of this paper is to study what evidence based practice is and how it can help organizations to make better decisions. In all type of organizations like bank, consulting firm, policy making, health sector and startup, it plays an important role as practitioners affecting the lives of so many people have moral obligation to use the best available evidence when making a decision. The current paper discusses the relevance of evidence based decision making in current scenarios. Here firstly relevancy of this concept has been checked in both ancient and current context in selected areas where decision making with evidence plays a pertinent role. The methodology of hermeneutics, i.e., identification, investigation, interpretation and integration, has been utilised in the present paper. Evidence-based decision - making adopted by king in Vikram-Betal story in the ancient scenario and same approach used by the various organizations in current scenario has been discussed in the study. Finally, a framework has been proposed based on the synthesis of various literatures relating to EBDM practices, story and cases taken from current scenario in the medical and judicial areas.