Data-Driven Business Applications

Data-Driven Business Applications

April 25, 2024 by investor

Data-Driven Business Applications

Companies are growing their business using data to drive applications.

Here’s a list of driven-driven business applications to consider:

Streaming services use data to predict what customers want to watch.

By using a recommendation engine, they can provide a better quality of service.

This works particularly well when the customer needs discovery services before using the product.

Recruiting departments are using more data analytic tools to identify the right candidates for the job.  

One use case is the use of resume screening which searches for keywords on a candidate’s resume and matches the job requirements.

Advertising departments continue to gather data to better understand and target their audience.

This is often used to find the right media outlet for their product.

Financial companies use data to match the right funding tool to the right candidate.

By looking at credit scores and other data sources, the financial company can determine how much to loan and at what price.

Ridesharing services use data to predict how long a ride will take.

By capturing data streams from traffic sources and reviewing historical data for the time of day and day of the week, the ridesharing service can better estimate the time of a ride.

Consider how data can improve your product, sales, or service. 

 

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.