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BSS004-1 Using Data to Build Business Practice

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As per the course BSS004-1 Using Data to Build Business Practice, the term business practice refers to a business in the first stage of its operations. It can be founded by one or more entrepreneurs who need to increase a product or service for which they know there is a demand.

Following are key takeaways to use data to build business practices under course BSS004-1 Using Data to Build Business Practice:

  • Business practice is often financed by its founders, and the startup attracts outside investment.
  • There are several ways to fund business, including family and friends, venture capitalists, crowdfunding, and credit.

The role of data in building business practice is to empower business owners to make decisions based on facts, trends and statistical numbers.

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