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The 4 keys to running a data-driven business [VentureBeat]

Today, businesses have access to data far beyond anything data-focused corporations had 20 years ago. The massive amounts of valuable data garnered from things like staff behavior and customer interactions can become a company’s biggest competitive advantage.

But how many of us are making the best use of that data? A data-driven approach to business means using all that information to optimize existing business goals and investigate new possibilities. This can mean conducting frequent experiments to make sure you’re selling as much of your current offerings as possible. Such tests can be as simple as checking whether to put the mustard on the shelf next to the ketchup or the hot dogs or as sophisticated as testing whether a feature personalized for each visitor to a webpage can raise both engagement and revenue.

 

Continue reading:

http://venturebeat.com/2013/12/04/the-4-keys-to-running-a-data-driven-business/

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