Why More Data Doesn’t Guarantee Better Decisions (Part 2)

With all this data, why do we continue to make bad business decisions? Truth is, more data doesn’t guarantee better decisions. Here’s why.

Source: blogs.sap.com

If it’s not timely, it’s too late

It doesn’t do much good to have all the data we need if it’s not timely. Businesses can no longer afford to wait for traditional transformation cycles that churn data for hours or days. New technologies such as cloud, mobile, and in-memory are fueling this paradigm of demanding more data points faster.

Here is the reality:

To compete effectively, you need to get there faster than your competition.To efficiently mitigate risk, you need to proactively eliminate it before it becomes a liability.To grow faster, you need to identify opportunities before they are ripe.To drive profitability, you need to constantly shift and reallocate resources to manage at optimal levels

See on Scoop.itData Nerd’s Corner

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