Magazine article Management Today

Everything You Know about Business Is Wrong: Bigger Data Is Better Data

Magazine article Management Today

Everything You Know about Business Is Wrong: Bigger Data Is Better Data

Article excerpt

What do you do if your business is falling off a cliff? When customers are staying away in droves, profit is plunging and everything you used to do doesn't work any more? A popular response is to say: 'We need more information,' especially as in the age of Big Data there are infinitely greater amounts of it available. But how much, if at all, can more data inform more effective action?

The attractions are several. First of all, it is a good displacement activity. 'We need more data' is a wonderful way of putting off an uncomfortable decision. It involves doing, rather than thinking. It's easy to look and feel busy while collecting and analysing data Thinking, on the other hand, can sometimes be confused (by your boss, for example) with doing nothing.

Making a bold choice, committing to one course of action and closing off others, causes anxiety. Data, we hope, will add certainty, and make us all feel more comfortable. The bold choice will also create discord. It's very unlikely that we will all agree on what to do. Data offers us the promise of settling the question in an objective, non-contentious way.

But there is a problem with data, one that makes it useless just when we most need insight. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.