Meaning ● A Minimal Viable Data Set (MVDS) represents the leanest collection of data points necessary for a Small and Medium-sized Business (SMB) to test a hypothesis, launch a product, or automate a process efficiently. ● In the context of SMB growth, automation streamlines operations, and successful implementation hinges on accurate, pertinent data; the MVDS ensures a focus on only what truly drives actionable insights and validated learning without the costly overhead of excessive data collection. ● It permits rapid iteration, allowing for informed decisions on scaling automation initiatives or pivoting strategies based on practical results in SMB environments. The use of MVDS accelerates product development, marketing campaigns and business implementation timelines.
