Wednesday, November 16, 2016

Business Lessons From Donald Trump's Win

Trump's win holds two lessons for businesses:

1. Limits of Big Data - Pollsters predicted a Hillary win – in part because they didn't do a better job of surveying rural voters. Is your business listening and interacting with its customers, or simply crunching available data? The best decisions are made by using a combination of hard data, customer feedback, and experienced executive decision-making.

2. Need for rapid change and innovation - The election shows how voters can decide to suddenly shake up government. At this time, we don't know exactly how Trump's Administration will differ from Obama's.  We do know that, since Republicans now control all three branches of government, laws will change must faster than during Obama's presidency.  Businesses need to be ready to interpret and react to change faster than their competition.