What Are the Challenges in Adopting Data-Driven Methods?
While data-driven methods offer numerous benefits, there are challenges as well:
Data Quality: Inaccurate or incomplete data can lead to faulty conclusions. Data Privacy: Ensuring customer data is protected and compliant with regulations. Resource Intensive: Collecting and analyzing data can require significant time and resources. Skill Gap: Entrepreneurs may need to acquire new skills or hire experts in data analysis.