Various projects and operations fail due to the lack of sufficient amount and good enough data. Poor decisions lead to poor outcomes and these are usually made based on “gut feel” and emotions. Often today, gathering data isn’t the problem as we seem to be generating way more than we know what to do with through standard day to day operating alone. The challenge is to analyse the data, put it into context and be data-driven when making decisions. Today, it is people who are employed to gather, analyse and present information in ways which mean something.
Although the talented individuals who can interpret data in those ways are fantastic to have, highly competitive businesses implement Artificial Intelligence embedded within a data analytics software which does the pattern recognition and interpretation for them. This then allows the people to get smarter with the data, make strategic decisions their competitors aren’t expecting, putting the business ahead of others.
“Getting smarter with the use of data” doesn’t necessarily mean that anybody is learning, it does, however, guarantee that decision making is much more reliable due to the larger amount of data supporting it.