SOWPub Small Business Forums  
 

Click Here to see the latest posts!

Ask any questions related to business / entrepreneurship / money-making / life
or share your success stories (and educational "failures")...

Sign up for the Hidden Business Ideas Letter Free edition, and receive a free report straight to your inbox: "Idea that works in a pandemic: Ordinary housewife makes $50,000 a month in her spare time, using a simple idea - and her driveway..."

NO BLATANT ADS PLEASE
Also, please no insults or personal attacks.
Feel free to link to your web site though at the end of your posts.

Stay up to date! Get email notifications or
get "new thread" feeds here

 

Go Back   SOWPub Small Business Forums > Main Category > SOWPub Business Forum
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

SOWPub Business Forum Seeds of Wisdom Forum

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #3  
Old August 16, 2016, 02:42 AM
Dien Rice Dien Rice is online now
Onwards and upwards!
 
Join Date: Aug 2006
Posts: 3,370
Default Thanks - great article, Steve!

Quote:
Originally Posted by Steve MacLellan View Post
On paper, this makes no sense. Never have businesses known more about their customers. Thanks to the big data revolution, companies now can collect an enormous variety and volume of customer information, at unprecedented speed, and perform sophisticated analyses of it. Many firms have established structured, disciplined innovation processes and brought in highly skilled talent to run them. Most firms carefully calculate and mitigate innovations’ risks. From the outside, it looks as if companies have mastered a precise, scientific process. But for most of them, innovation is still painfully hit-or-miss.

What has gone so wrong?

https://hbr.org/2016/09/know-your-cu...obs-to-be-done

Regards,
Steve
Thanks Steve,

That's a really good article - I thought it was quite enlightening!

The article points out that so-called big data is just showing correlations. However, correlations do not necessarily show causes.

For example, a person may sweat a lot and also miss work. However, it doesn't mean that missing work caused that person to sweat, or even that sweating caused that person to miss work. Digging deeper, you could find out that both these effects are caused by an underlying fever, which is the real cause of both.

The article says to know your customer's "jobs to be done" - and by this they mean to know what your customer actually wants to accomplish. Them's wise words! For this you don't need so-called big data... Instead, you need to talk to your customers!

Thanks Steve for this dose of wisdom...

- Dien
__________________
Reply With Quote
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Other recent posts on the forum...


Seeds of Wisdom Publishing (front page) | Seeds of Wisdom Business forum | Seeds of Wisdom Original Business Forum (Archive) | Hidden Unusual Business Ideas Newsletter | Hotsheet Profits | Persuade via Remote Influence | Affia Band | The Entrepreneur's Hotsheet | The SeedZine (Entrepreneurial Ezine)

Get the report on Harvey Brody's Answers to a Question-Oriented-Person


All times are GMT -4. The time now is 03:37 PM.


Powered by vBulletin Version 3.6.0
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.