This week has been a busy one at Open-i Advisors Inc. Here are some of the things our consultants have been reading. A lot of it this week focuses on the fact that neither people alone, or data alone, can get the job done. Only together are they most effective. Here’s our reading list:
Data Without Context Is Bogging Your Team Down
Why do our clients in the Internet infrastructure industry like to work with us on how they use their data? It’s because we understand the context and how to tell stories with internal and external data. This means they can not only establish KPIs, but use actionable intelligence to answer the right questions that will lead them to growth. All the data in the world won’t get that for you – you need to know how to apply it smartly.
We’re always interested in the future and forecasting where things are going. We like the vision of the future put forth by Anne Räsänen of Tieto because it combines the societal benefits of a data driven culture with the continual need for human expertise to use that data in ways that put people first. We’re pretty convinced that the smarter society they speak of isn’t that far off.
Surprise, surprise – efficiency is king. That’s the real core of this article (which plays a bit of buzzword bingo) but it’s not wrong. When we’re talking about big data in this context, we’re talking about maximizing efficiency by mapping initiatives to goals in measurable ways and tracking what’s working and what’s not. That’s not just useful, it’s increasingly the table stakes for making it.
Today’s data driven world has given rise to a new role, CDO
We haven’t yet worked with any Chief Data Officers (or “CDOs”), but we fully approve of the title and hope that we see more of them in the Internet infrastructure industry.
We love human intuition and know how important it is – but if you can’t measure it, then what good is it? Data plus human expertise can combine to do a way better job than just ‘going by the gut’. We say: dream it, then prove it.
Just as ‘going by the gut’ isn’t going to get you there alone, neither is using data alone. This article points out the value of common sense. Many pieces of information go into making successful business decisions, not just data based decisions. This article also calls attention to the fact that data is often of poor quality or skewed. You need human eyes on it to make sure it’s accurate.