The terms ‘big data’, ‘data science’, and ‘data driven insights’ are all familiar buzzwords in business analytics. Businesses have endless amounts of data and are scrambling to determine how to use it. Management screams ‘we want insight from our data!’ But what does that really mean? Endless data and the desire to be on the cutting edge of business analytics can be overwhelming. Failure to identify an analytics approach to develop insight will result in aimless wandering:
Comic by Nicholas Oleh on blogspot (CC)
A poorly defined data approach may yield some insights. Unfortunately, you also run the risk of ‘analysis paralysis’ due to the lack of clarity and direction. Despite unlimited access to your own data and insights, you’ve hit a Data Dead End.
So how do you avoid ...