Author(s)

Lirong Wan ¹, Jiayong Xu ^1,2

Affiliation(s)

¹ The Graduate University of Mongolia (GUM), Ulaanbaatar, 14200, Mongolia
² Beijing Polwision Technology Development Co., Ltd., Beijing, 100101, China

Corresponding Author

Jiayong Xu

ABSTRACT

This study explores the impact of data-driven product decisions on operational efficiency improvement. In the digital age, data has become a key element of enterprise decision-making. Through the collection, analysis and application of large amounts of data, enterprises can more accurately understand the market demand, optimize product design, improve production efficiency and improve operational strategies. This study used the empirical analysis method and combined with the cases of several enterprises to deeply study the function mechanism of data-driven product decision-making in improving operational efficiency. The results show that the data-driven decision-making method can significantly reduce decision-making errors, improve the efficiency of resource utilization, shorten the market time of products, and enhance the market competitiveness of enterprises. This study provides theoretical support and practical guidance for enterprises to use data-driven product decisions to improve operational efficiency.

KEYWORDS

Data-driven; product decision-making; operational efficiency; data analysis

CITE THIS PAPER

Lirong Wan, Jiayong Xu, Research on data-driven product decision-making and operational efficiency improvement. Financial Engineering and Risk Management (2024) Vol. 7: 139-145. DOI: http://dx.doi.org/10.23977/ferm.2024.070219.

REFERENCES

[1] Zhang Yadong, Li Haijun. Data-driven product decision research [J]. Management Review, 2020, 32 (6): 25-27.
[2] Jiang Hui, Shao Dandan, Xu Jun. Research on data-driven product pricing strategy [J]. Exploration of Economic Issues, 2018, 37 (6): 97-99.
[3] Gao Jianxin, Qiu Jianhua. Research on data-driven product innovation strategies [J]. China Science and Technology Forum, 2019, 32 (10): 98-100.
[4] Chen Qi, Meng Xianyi, Wang Hua. Research on data-driven efficiency improvement of product operation [J]. Modernization of Management, 2017, 33 (3): 84-86.
[5] Li Yan, Fu Zhiming, Peng Guoqiang. Data-driven product competition strategy research [J]. Modern Industrial Economy and Information Technology, 2018, (12): 85-87.
[6] Zheng Lin, Liu Lili, Yang Yuqin. Data-driven Product Life Cycle Management Research [J]. Science and Technology Information, 2020, 15 (5): 103-105.

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