I think that the Data Driven approach is of great benefit to a business at all stages of its development. The only drawback of this method is the cost of supporting the infrastructure. But again, it depends on the size of the business and the amount of data needed. Can you highlight any other disadvantages of this approach?
You are correct in your observation. The disadvantages of this approach can only be discussed by considering a specific example of business, such as the scope, purpose and size of the organization. But as you pointed out earlier, the main disadvantage for everyone is the cost. And it includes not only the use of technology, but also human resources. In any case, you need a team that supports and oversees the collection of data analysis.
I know that amazon uses artificial intelligence to analyze user behavior and suggest what they need. The AI understands and assumes what and when you want to order and therefore generates a selection of the most relevant products.
I really enjoyed this video! I'm a big fan of data-driven decision making, and I thought you did a great job of explaining the different steps involved in the process. I also appreciate the real-world examples you shared.
Do you think your company needs to implement data-driven decision making? Waiting for your comments!
I think that the Data Driven approach is of great benefit to a business at all stages of its development. The only drawback of this method is the cost of supporting the infrastructure. But again, it depends on the size of the business and the amount of data needed. Can you highlight any other disadvantages of this approach?
You are correct in your observation. The disadvantages of this approach can only be discussed by considering a specific example of business, such as the scope, purpose and size of the organization. But as you pointed out earlier, the main disadvantage for everyone is the cost. And it includes not only the use of technology, but also human resources. In any case, you need a team that supports and oversees the collection of data analysis.
i'd like more specific examples of companies how they use this method. i think it would be interesting. thank you for your content !
We appreciate you sending us your feedback. 😉
An amazing business opportunity. I like it 🔝
We love hearing from you! Thank you for leaving feedback for us. 😺
I know that amazon uses artificial intelligence to analyze user behavior and suggest what they need. The AI understands and assumes what and when you want to order and therefore generates a selection of the most relevant products.
Yeah, that's a good point 😉
I really enjoyed this video! I'm a big fan of data-driven decision making, and I thought you did a great job of explaining the different steps involved in the process. I also appreciate the real-world examples you shared.
Why do you think some companies refuse to use data to make decisions ?
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