If you discover a big enough problem, it means that you will be ready to spend more time and money to solve that problem, and the reward to solve it is going to be much higher, than if you choose “low-hanging-fruits.” Moreover, once you solve that problem, you will have a more massive head start over your competitors that are slower in putting the needed investment to solve that problem. The bigger the problem, the higher the value of an answer to that problem. The next important fact about the examples below is that they don’t start with a technology or a solution, but with the customer problem that exists. People will always want things to be more comfortable, cheaper (lower cost), and faster. Jeff Bezos, Amazon founder, and CEO said many times that he never met a customer that wanted higher prices, slower delivery or smaller selection.
#Amazon issues today how to
This mechanism is always starting with problems of the customers (“customer obsession”) and continues with making it bigger (“think big”), without knowing if and how to build it.Ĭounter-intuitive fact is that the focus is not on the new hype technologies or the rapid changes around us, but on the human needs that are not changing. From the original problem of selling books over the Internet, to thousands of issues in logistics, personalization, global markets, 3rd party sellers, payments, advertising, cloud computing or personal assistance. 5 Big Business Problems Amazon is Trying to Solve with Machine LearningĪmazon has developed over the years a powerful mechanism to solve different types of business problems.
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