Category: Data-driven

“Risk comes from not knowing what you’re doing” Warren Buffet The more you know, the less risk you take. Buffet spends 80% of his day reading! Knowledge comes from data, analysis, and opinion. So, we can say he is a data-driven decision-maker, he uses data in all his business decisions. The next question is what he reads? Warren Buffet tells CNBC he reads the Wall Street Journal, the Financial Times, the New York Times, USA...

Let’s think of forecasting results after the financial crisis in 2008, then the covid-19 pandemic in 2020. Let’s think of the big data that is derived from customer behavior before the pandemic, is it now valid to understand the customer behavior after the pandemic. Let’s ignore the special events in history that break of forecasting efforts and future insights; and think again about the forecasting methods. The current forecasting methods, which I will call the...

The web is full of statistics about the importance of data and how data-driven companies perform better. For example, businesses that rely on data management tools to make decisions are 58% more likely to beat their revenue goals than non-data-driven companies, according to a Forrester Consulting survey of 900 global business leaders. If you decided to be data-driven, what does that mean? Buying software? Training the staff for data analysis skills? Hire new talents? Researches show...