What is a simple process in which sound decisions are made and action taken based upon collection, analysis, and management of information?

The correct answer represents a process that integrates information gathering, assessment, and implementation to drive decision-making in a structured way, particularly in the context of community development and resource management.

Urban planning encompasses a comprehensive approach that includes evaluating various data related to land use, population dynamics, infrastructure needs, and environmental concerns. This process involves analyzing information to create strategic plans that guide the development of urban areas, ensuring that growth is sustainable and meets the needs of the community.

In this context, the other options—residential analysis, industrial management, and commercial collection—do not capture the full breadth of the decision-making process typically associated with urban planning. While each of those activities may involve some degree of information management, they do not inherently encompass the holistic and strategic planning aspects that urban planning embodies. Urban planning specifically looks at the broader picture, striving for balance among various factors affecting urban life, which makes it the most fitting choice in this scenario.