What is Business Data & How do You Use it for Greater Profitability?

Business data programs can be full of new and confusing terms, especially if you’re just getting started, and often, many of them sound like they could be the same thing. So what is “business data'' and how do you use it to get the most from your efforts in working with data? Not only is it essential to understand data to help you interpret, track, and measure what is most essential to growing your business, but learning how to use it lends itself to greater profitability.

We’ve compiled some of the data terms you’re likely to come across and examined how they can be applied to support your business’s growth goals.

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What Does It Mean to Be Data-Driven?

In the modern business world, there are certain terms and phrases related to data that are important yet poorly understood because they’re often misused or made to seem overly complex. I’ve clarified the meaning of some of this terminology before, and today I want to talk about one specific adjective that you’ve probably seen countless times on LinkedIn, company websites (including this one), and business publications from Forbes to Fast Company: data-driven.

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