Have you ever wondered:
- How did Google dominate 92.1% of the search engine market share?
- How did Facebook achieve 74.1% of social media market share?
- How did Microsoft win over 77.7% of the Desktop OS market share?
Aside from great vision, they all decided on how they do things, leading them to their triumph. Google decided to focus its search engine to provide better user experience, instead of monetization. Learning from the early adopters, Facebook decided to plan its growth, time its entry, and manage its public relation wisely. Microsoft decided to build Windows with compatibility in mind, reducing future issues so they can innovate even more.
They all made great decisions, bet on it — and won.
As one who’s in the data science field, being data-driven is a must. Deciding our actions based on data is a normal thing to do. It’s in the job description after all. Yet, my mentor once said, “be more than a data scientist”. I figured out what it means later on. Not all problems can be solved using data. Maybe it can, but is it the best approach?
Other than data science and analytics, 2 more essentials could help us form better decisions. Finding the balance of all three is important since our decisions defines our future. Whether we want to solve personal matters, build a product, or start a business — we have to decide our next step.
Take a look at this graph. Imagine you have built a startup. These bars represent your monthly product sales.
- The first 8 bars show stable growth, which is good.
- You experiment and manage to growth hack it by 3 times next month.
- You’re happy, but have no absolute idea of what has happened.
#startup #data-science #personal-development #decision-making #self-improvement #data analysis