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Big Data - Hype or Essential for Success?

12/21/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Big Data is a much-discussed topic and has both advantages and disadvantages. On the one hand, companies can achieve many benefits through the use of Big Data, such as better decisions, more efficient business processes, improved customer satisfaction and improved product quality. On the other hand, the use of Big Data can also lead to problems, especially with data privacy and data security.

So it's difficult to say whether Big Data is essential to success or not. It depends on how a company uses the data and how it ensures data protection and data security. If these aspects are properly evaluated, Big Data can be an important ingredient for success.

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How to create a digital product and sell it on autopilot

12/20/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Decide what product you want to sell. It can be an e-book, a video course, an online course, a software program, or any other digital product.

2. Develop your product. If you are creating an e-book, make sure it is well-researched, interesting, and informative. If you're creating a video course, make sure the videos are educational and look professional.

3. Create a sales page. You should create a professional sales page that highlights the benefits of your product and includes a simple order form.

4. Create an email marketing campaign. This will allow you to make your target audience aware of your product and keep them updated on new features and offers.

5. Use affiliate marketing. You can allow others to promote your product and receive a commission for each sale.

6. Use automation tools. Automation tools like autoresponders and social media tools can help you run your sales on autopilot.

7. Measure and optimize your campaign. Use the data you collect about your campaign to optimize it and increase your sales.

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Make better decisions with statistics & data science driven by data

12/20/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Data science and statistics offer companies the opportunity to make data-driven decisions. By processing large amounts of data and extracting relevant information from it, companies can gain important insights for their decision-making.

By developing algorithms and models, companies can adapt their actions and strategies to improve their outcomes. With Data Science, companies can not only better understand their existing data, but also identify patterns that can help them make better decisions.

Data Science can also be used to gain new insights into customer interactions, which can give companies a competitive advantage. In addition, applying Data Science can also help improve a company's profitability by reducing costs and increasing efficiency.

Statistics helps companies draw important insights from the data they have. By using hypothesis testing, regression analysis, and other analytical methods, companies can gain important insights and make better decisions.

Data science and statistics can help companies gain new insights and make better decisions. Companies that use these techniques will be able to adapt more quickly to changing market conditions and thus improve their results.

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The 80/20 Rule - The Pareto Principle as a Lever Tool for Every Successful Entrepreneur

12/19/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The 80/20 rule, also known as the Pareto principle, is an important tool for any successful entrepreneur. It states that 80% of the result is achieved by 20% of the effort. In other words: By focusing on the 20% of activities that produce the most result, you can get the most benefit from your efforts.

The Pareto Principle can be applied to many areas of entrepreneurship. For example, you can use it to figure out which advertising tools work best. By measuring results and figuring out which advertising mediums deliver the best results, one can focus on those that provide the most benefit.

You can also use it to figure out how to best use your time. By focusing on the tasks that provide the most benefit, you can make your time more efficient and productive.

The Pareto Principle can also be used to figure out which clients get the greatest results. By analyzing the data and figuring out which customers bring in the most revenue, you can focus on those that bring in the most value.

The Pareto Principle is a useful tool to help business owners maximize results and make their efforts more efficient. By focusing on the 20% of activities that bring the most value, you can maximize results and make your business more successful.

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What to consider when implementing a live support chat?

12/15/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Make sure your live chat system provides high availability and a secure connection.

2. Ensure that your live chat support team responds quickly to requests and delivers a professional response.

3. Schedule regular maintenance to keep your system up to date.

4. Use a simple and intuitive interface that is easy for users to navigate.

5. Use an automated chatbot feature to answer simple questions and route queries to a human when necessary.

6. Make sure your support team has sufficient knowledge and experience in handling various questions and issues.

7. Monitor chat history to get a better understanding of customer needs.

8. Pay attention to the GDPR / data protection laws and list the provider in your privacy policy.

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