Data is considered a business’s most valuable asset, so it’s understandable that organizations often strive to collect as much of it as they can. The more data you have, the more opportunity for insight, right?
That mentality has spawned the era of big data — which is the attempt to analyze and extract patterns, trends or associations from data sets that are too large to handle through traditional computation. Yet in my experience working for a company specializing in driving data in real time, I’ve found that for many organizations, fixation on endlessly collecting more and more data in the belief that it will magically generate value can be a fool’s errand. Simply accumulating every bit of data available to the business isn’t always the key to better results.
Author: Karthik Ramasamy