The power of statistics

Statistics and data are very trendy in the business world. It is the thing that makes or breaks decisions. Everybody demands it and we all end up believing it. So why is statistics so important?┬áIt is not meaningful or effective if it’s taken out of its context, which is many times very complex and influencing. It is not even precise. What statistics gives us is something much more important: concrete proof. If we can get statistics to back up a gut feeling we have or a hunch about a situation, we’ve hit the golden pot. We have proof that our…

The business model dilemma

A business model has to have a big idea. It has to be rooted into the company’s mindset and culture values. It has to adapt to its context and even be flexible for handling future context changes. A business model has to be visionary. And it simply has to work well, or otherwise accept its failure and change course. When businesses decide on such important things as changing or taking up a new business model, it might be because there is some sort of crisis in the entire industry. A crisis caused by its decline, after it has inevitably reached…