9 “Laws” for Data Mining

Analytics initiatives are not failure proof. In practice, they fail often. Bernard Marr, Forbes contributor and author of Big Data: Using SMART Big Data, Analytics and Metrics to Make Better Decisions and Improve Performance, predicts that “half of all big data projects will fail to deliver against their expectations.”

Michael Schrage, a research fellow at MIT Sloan School’s Center for Digital Business, speaks of frustration that analytics investments are not yielding expected results. Positive returns on analytics investment require management action. But many managers are reluctant to take action based on analytics, especially when the numbers don’t seem to match with their own gut understanding.

Author: Meta S. Brown

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