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6 July 2020 \\ Retail
Author: Alexander Boast
Businesses around the world are still scrambling to react (not adequately respond, but react) to the world-changing events of the Covid-19 pandemic.
Whilst research is still being done on the hardest-hit industries, anecdotal evidence can easily pick out travel, tourism and hospitality as some of the biggest casualties, but new headlines emerge daily about the retail industry shaving hundreds or thousands of jobs from their stores if not closing them outright.
What if I told you that some businesses haven’t been hit very hard, or are outright growing? Would you believe me?
Today we’re going to look at the types of businesses that have amazingly been able to adapt and thrive to the current socioeconomic climate.
D2C – in fashion retail, Direct-to-consumer is all the rage right now and goes hand in hand with the digital first theme. We’re seeing new brands pop up all over the place and manage their own relationship with their customers via online communities rather than through a retailer’s physical store.
The Wetherspoons example – when it was announced that UK pubs would have to offer table service and the ability to collect contact data of customers, this was no problem for Wetherspoons, who have been doing this already for ages in a great example of innovation at the time.
Being Data-Driven: What does it mean?
17 August 2020 \\ Technology
Author: Alexander Boast
It’s a phrase, and perhaps verb, that we hear a lot, isn’t it?
LinkedIn profiles, job descriptions and PR articles are all talking about how to become data-driven, how to make data-driven decisions, how to be data-driven.
To the uninitiated – and perhaps even to the initiated – it might be worth pausing for a moment to ask what this really means?
A Google search for the term “data-driven” returns some 655 million results, and a quick adjective definition that reads thusly:
“The adjective data-driven means that progress in an activity is compelled by data, rather than by intuition or by personal experience.” Wikipedia
That sounds fair enough, and perhaps advantageous in some if not most decision-making situations, but how does one collect the data and use it in an actionable way?
You first need to be ready to be data-driven
The thing we are forgetting is that most founders and entrepreneurs, as well as humans in general, love to trust their gut, enjoy a personal anecdote, and will make decisions based on how much they like the person they’re buying from or selling to.
Surely, then, this is at odds with being data-driven?
Sales - Has Covid-19 Changed Our Approach?
Open Solutions Global Founder, Patrycja Maksymowicz in conversation with Kristian Ramsier, FISM
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