Big Data initiatives should focus on outcomes first.
The value of Big Data is the potential change in outcomes. Companies should first evaluate which areas of their business and decision making are receptive to change.
Receptiveness to change dictated or directed by models, black box algorithms needs to be accepted by managers, execution staff (i.e. call these prospects and discuss x becuase the model says so).
This is a cultural change, a mind set change and a governance change. Advanced modeling must also bear the responsibility of scenario testing and multiple outcome hypothesis and simulation testing.
8. Teaching Big Data to The non-Data Scientist
The Everything Spreadsheet (part 1)
Big Data Jujitsu an Illustration Using the Everything Spreadsheet
What does big data promise? Big data promises everything, all data, all the time.
Technologists, database designers, managers and executives all struggle with the concept of big data.
The following illustrative example of the Everything Spreadsheet is provided to provide a means for all
interested parties at a company to develop a shared understanding of big data and its potential
applications in order to scope the types of questions and applications where big data might be applied.
We use the concept of an empty data spreadsheet, like a Microsoft Excel spreadsheet and workbook, to
illustrate big data concepts since most managers, executives and technologists are familiar with how
spreadsheets work.
1. Let’s start with a blank spreadsheet
The Everything Spreadsheet continued in next slideshow…
Big Data Jujitsu encourages businesses and IT to focus on identifying the questions that will have the greatest outcome or business impact in the form of, “What question, if I had the answer, would ensure I meet or exceed my goal…or dramatically change my business?”
The promise of “big data” is to reduce the barrier to answering questions by expanding data scope beyond a traditional, internal system walls (breadth) while also expanding the amount of internal data (granularity, time series, metadata). Remembering that big data is just a cost until it is used to change an outcome.
Simply adding a value dimension, in this case “cost” for each analytics asset, changes perspective and creates a dimension for managing analytics rationally.
Analytic value is derived from the change in outcomes affected by analytics used by the audience, or decision makers, that they would not have made without analytic insight.
CxC’s Analytics Inventory Service captures outcome value and potential outcome values with each analytic asset to provide strategic and relational management of analytic resources.