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Opinion VOC Execution

Overcoming big data chaos to unearth great opportunity

A lot of people attribute the ability to lead a company through a difficult challenge as something related to ‘courage’. But it’s as much about being able to bring structure to what appears to be chaos. And giving team members a way to focus their efforts.

Difficult situations aren’t always crises. Sometimes, it’s just a conflict between a desire to pursue a strategy and a seemingly unmanageable set of options to choose from. An article from iPerceptions (link below this post) takes an interesting approach to tackling a problem that I can say with certainty demands a structured approach.

Big Data’s Two Avatars

When ‘big data’ presents itself, it takes on two avatars to most management teams.

One is all about opportunity — to understand the business and customers better, to make better decisions and to identify new opportunities that were previously hidden.

The other is a fear inspiring sea of chaos that could suck enormous amounts of resources and scarce time into a endless analysis loop that ultimately may not yield any results. Sound like an exaggeration? I’ve seen many discussions around it descend into exactly that degree of hyperbole.

Creating Opportunity From Chaos

Many companies are running away from their 'big data' because it's so dispersed and divergent. Either they pick and choose or they ignore it all together because they can't get their head around it. Both options are bad for the business.

We're recommending an article from iPerceptions (link below) as a read for any business that’s looking to create structure and a plan around mining their customer related data. It puts a framework around looking at all your data sources (which all look like they’re random collections) and allows  you to put them into meaningful buckets that tie into your day to day business decisions and challenges.

Mar 6, 2014 | Original Link

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