Final answer:
A company makes data-driven decisions by using statistical data and market analysis to adjust marketing strategies and set prices competitively. Examples that are not data-driven include launching products without research or expanding based on intuition. Also, market forces can incentivize businesses to act less discriminatorily to maintain profitability and reputation.
Step-by-step explanation:
Real-world examples of how a company might make data-driven decisions include:
- Adjusting marketing strategies based on customer feedback, which leverages direct input from consumers to refine marketing efforts.
- Setting product prices based on competitors' pricing, drawing on market analysis to stay competitive.
On the other hand, introducing a new product without market research or expanding operations into a new geographic area based on intuition are not examples of data-driven decision-making, as they do not rely on statistical data or market analysis.
Answering the question on market forces reducing discrimination:
- A local flower delivery business might cater to a diverse customer base to maximize profit, minimizing the owner's personal biases.
- An assembly line struggling to hire may begin employing women to tap into a wider talent pool.
- A home health care service provider could adopt equal pay practices to avoid legal challenges and maintain a positive reputation.