Please respond to this in a summary-discussion format with a follow up question :) thank you

Amazons use of predictive analysis and conditional probability is a huge part of their success, and many online retailers have benefited from similar practices. This use of analysis may be utilized in my industry for determining which companies are likely to benefit from our services, but I believe that subjective and empirical probability are better suited. This is due to most of our services being conducted in person regarding negotiation and close, therefore relying heavily on subjective probability, and our offering one service prevents the need for predicting other types of purchases.

Subjective and empirical probability are both widely utilized in business, and different industries will have different uses for both. In my industry, we attempt to use empirical probability to predict growth in certain areas in a means to focus advertising and marketing in underperforming regions and maintain areas where we are seeing positive results. However, our industry is based on sales representatives in the field using their judgement to gauge the customers demeanor and likelihood of closing the sale, which would fall under subjective probability. Both are used for different reasons, and both types are essential for our growth and repeatable results.

Each type of probability may be extremely useful for businesses, and provided they give due diligence to which is most suited to their needs, will benefit greatly from their implementation.