Companies must use data creatively to gain a competitive edge from "summary" of Reinventing Capitalism in the Age of Big Data by Viktor Mayer-Schönberger,Thomas Ramge
To compete in today's fast-paced business environment, companies need to leverage data in innovative ways. Simply collecting and analyzing data is no longer enough. Companies must go beyond traditional methods and find creative ways to extract valuable insights that can give them a competitive edge. This requires thinking outside the box and exploring unconventional approaches to data utilization. One way companies can use data creatively is by combining different data sets to uncover hidden correlations and patterns. By integrating data from various sources, companies can gain a more comprehensive understanding of their customers, markets, and competitors. This holistic view allows companies to make more informed decisions and develop unique strategies that set them apart from the competition. Another creative use of data involves predictive analytics. By using historical data to forecast future trends and outcomes, companies can anticipate market changes, customer pref...
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