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Session 26: Data-Driven Decision Making - Letting Numbers Lead the Way
Welcome back! In the previous session we talked about financial literacy. Now let’s expand that into decision-making. Data-driven entrepreneurs use facts and numbers to guide their choices, not just intuition. While gut feelings have value, data keeps you grounded and objective.
Why Data-Driven Decision Making Matters
Every business produces data - sales numbers, customer feedback, web analytics, inventory, and more. Ignoring that data is like ignoring a map on a road trip. Data helps you see what’s working, what isn’t, and where to improve. Leaders who rely only on instinct risk missing patterns that could make or break their business.
A Real-World Picture
Amazon uses data for nearly every decision - from product recommendations to warehouse logistics. Their obsession with metrics allows them to personalize shopping for millions of customers while keeping operations efficient. It’s not luck - it’s data.
Humor Break
Making decisions without data is like throwing darts in the dark. You might hit the target once, but most of the time you’re just poking holes in the wall.
Action Step for You
Pick one area of your business where you currently rely on gut instinct. Gather data for it this week. It might be customer surveys, sales trends, or web traffic. Ask yourself: does the data confirm my gut - or challenge it?
Closing
Data gives you clarity, and clarity creates confidence. Next, we’ll move into Goal Setting and Execution - turning information into focused action.
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