Why do data-driven decisions matter and how to use them?

Рет қаралды 13,539

Күн бұрын

Let's discover the basics of data-driven decision-making.
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▶ Time codes:
00:00 What is data-driven decision-making?
01:04 Why use data-driven decision-making
02:31 Benefits of data analytics approach
03:26 How to implement data-driven decision-making
04:15 Famous companies using data-driven approach
04:43 Contact Jelvix
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▶ About this video:
Data-driven decision-making refers to the decision-making process based on the profound analysis of massive volumes of data and its patterns.
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Disclaimer:
The content in this video is based on company's experience. The primary purpose of this video is to educate and inform. Note that Jelvix is not responsible for the results of advices that were taken without considering individual situation and goals of your business. Jelvix strongly recommends to perform your own independent research before making any critical decisions. If you have a complaint about something or find your content is being used incorrectly, please contact Jelvix.
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Пікірлер: 13

@Jelvix Жыл бұрын

Do you think your company needs to implement data-driven decision making? Waiting for your comments!

@jiminnovator1556 Жыл бұрын

i'd like more specific examples of companies how they use this method. i think it would be interesting. thank you for your content !

@Jelvix Жыл бұрын

We appreciate you sending us your feedback. 😉

@kenadams5371 Жыл бұрын

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.

@Jelvix Жыл бұрын

Yeah, that's a good point 😉

@williamjones2128 Жыл бұрын

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?

@Jelvix Жыл бұрын

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.

@bessieturner7558 Жыл бұрын

An amazing business opportunity. I like it 🔝

@Jelvix Жыл бұрын

We love hearing from you! Thank you for leaving feedback for us. 😺

@softcrontechnology1711 Жыл бұрын

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.