A State of Business
Is Cultural-socio-economic progress of the state impacting your business more than ever?
Historically business was not done for profit. Manufacturing and trade happened even in the stone age . Then, the barter system defined the value of a product purely based on its need. The the industrial era or the age of mechanization attributed 'a' certain value to the product based entirely on how much the business produced. (Hypnotic) Advertising of the product to improve consumption of the product became the norm. Barter was replaced with Business(selling to make profit). Business was soon replaced with Consumerism (voluntary buying of products to keep up with the Jones). Thanks to Technology and the evolution of mankind with the Gen X and Gen Y brain, Consumerism is slowly and surely getting replaced with 'shared economy'. Yes, we can still call this transformation 'business', as the service provider is working for a profit, however the business model is best defined by the consumer.
Businesses today need to deep dive and introspect, backed with intuitive qualitative data analysis to increase their reach. Experienced, traditional 'Market Researchers' are our most valued advisory. Do you have one sitting next to the data scientist?