You may not need big data after all insights by shesha

1. By Jeanne W. Ross, Cynthia M. Beath and Anne
Quaadgras

2. o Big Data is gaining
popularity these days a lot.
o Most of the decisions are
being taken based on the data
available .

3. Companies are investing like
crazy in data scientists, data
warehouses, and data analytics
software.

4. But many of them don’t have
much to show for their efforts.
It’s possible they never will.

5. Big data has been hyped so heavily that
companies are expecting it to deliver
more value than it actually can.

6. Analytics-generated insights
can be easy to replicate

7. Turning insights from data analytics
into competitive advantage requires
changes that businesses may be
incapable of making.

8. o Adopting evidence-based decision making is a difficult
cultural shift: Work processes must be redefined, data
must be scrubbed, and business rules must be
established to guide people in their work.
o The good news is that once companies have made the
cultural change, they usually don’t go back, and their
operating improvements are not easily replicated by
competitors.

9. Universal acceptance of one source of
truth is the first step in adopting a
culture of evidence-based decision
making.

10. It’s okay if the data are initially flawed,
because it takes time for people to learn
how to use a single source.

11. But over time, quality matters, so
companies will want to initiate
processes for improving data capture.

12. Perhaps the best way to teach people how to
use data to create business benefits is to
provide them with data about their own
performance.

13. It’s not enough to tell people what the new
rules or goals are.
You have to help them shift from basing their
decisions on instinct to basing them on data

15. Submitted for “Data Analytics” internship under professor
Sameer Mathur, IIML.
By
S Sheshasai Venkatesh
Vasavi college of Engineering