BIg Data: Best Used as a Means to an End?

Is “big data” a means to and end or an end in itself?

Big data / data collection / data analysis seem to be “the next big thing” and what has lots of people talking these days. Much is being written about the copious amount of data being collected, how little of this data is actually being analyzed for any useful purpose

All this begs the most basic question: Does “big data” really support better decision-making, improved outcomes, less risk exposure, and more efficient deployment of scarce resources – all to help drive long-term profitable growth for businesses?

A recent article in the WSJ talked about how Auto Zone is using data analysis to optimize its retail supply chain and improve the chances store visitors will walk out with a purchase. Another example was given around optimizing wind-turbine performance. All good, but hardly earth shattering developments.

Another article focused on the data-crazed vibe around SXSW last week entitled  “Who Rules the Data?”  Many tech firms are rushing to collect all sorts of data, display it close to the body (Google Glass) and even placing devices to track conference participants whereabouts and even how much time they spent sitting or standing in the porta-potties on site. Here the focus was on privacy issues, pardon the pun.

Chances are if both IT and marketing types spent a little more time linking data collection / analysis with informing smarter decision making (and tracking outcomes to inform future actions) for senior management – we’d all be in a better place: More efficient businesses that will grow, create jobs and fuel economic prosperity.

Now that’s a data point worthy of further consideration.