4 Steps to Launching a Data-Driven Startup

Big data isn’t just a buzzword–or the basis for understanding customers’ proclivities. It can help you hone your entrepreneurial path, too. ¬†(This first appeared in Inc.com here.) The Lean startup methodology popularized by Eric Reis and Steve Blank leans heavily on making product decisions using customer feedback. To most, this appears to be obvious. Gather copious amounts of relevant data from your perfect, targeted customer segment and they will, without much work, provide you insights that steer your product roadmap. Sounds easy enough, but good luck. I’m pretty sure it isn’t that easy for a majority of the companies in their first year(s) of operation. Why? Let’s break down the previous statement. First, “copious amounts of relevant data” are hard to come by. The companies I work with atThe Startup Factory¬†don’t have customers yet, or only have a limited number of customers–certainly not enough to provide copious data. Without that, it’s understandably tough to build out a product customers want. This is a big deal. You read the books on startup dos and don’ts. You listened to your mentors–the ones who really understand the needs for copious amounts of relevant data. But you can’t easily find or get enough customers

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