Monday, January 5, 2015

Are you collecting comprehensive data from your business?

While there are numerous studies that talk about the amount of data that gets generated at any time and how it doubles every 18 months, there is no denying that the capabilities of analyzing and leveraging the insights from the data is doing catch-up. The internet of things is only going to expedite the data creation intensity. That is not necessarily a bad thing... but lesser and partial data is bad for everybody.

While there are lot of people talk about STOP COLLECTING AND START ANALYZING (FOCUS on ANALYSIS), I am going to take a tangential route and talk about a slightly different topic. While we also advocate "START ANALYZING" and even help our customers on that path, we don't necessarily agree with the "STOP COLLECTING" part. If there is one thing that we want to tell... we would tell... COLLECT MORE DATA and make the collection more comprehensive across all aspects of your business. Because data that is not collected is lost forever. When there is no data, there is nothing to analyze and make decisions off of and even worse when only partial data is collected leading to half-baked conclusions from Analytics.

Are you collecting all the possible data from your business to drive business decisions that gives a full picture?

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