On today’s show we’re talking about using data to drive business decisions. Perhaps the best company in the world for using data driven decision making is Amazon.
But what do you do when the data exists? You’re hoping to try something new in the market that hasn’t been done before, or if it has been done, you don’t have access to the data because it’s proprietary?
Well, it would make sense to run an experiment on a small scale to collect the data and then use that data to plot their next move. Amazon announced the closure of numerous recently opened stores. Does this mean that their recent foray into physical retail was a failure? Or were they simply running a data gathering experiment?
Host: Victor Menasce