85% of 569 business executives and IT leaders report obstacles in managing and analysing data

This is one of the results that Global Survey: The Business Impact of Big Data produced.

It’s not surprising. In the survey’s definition, “Big Data” comprises – in descending order of sources:

  • email
  • Word documents
  • spreadsheets
  • customer databases
  • presentations
  • online portals / corporate sites
  • instant messages
  • social media news feeds
  • other
  • RSS feeds
  • Friend Contact Lists.

For me, there is a big difference between

  • numerical
  • verbal
  • and image data.

Everything else is actually ‘information’ that should lead to ‘knowledge’, i.e. numerical data in verbal contexts.

Enterprises have an opportunity to leverage their data to create new revenue streams and generate new businesses.

Who says so? Why should that be true?

The proposed solution is to

  1. identify content producers
  2. filter information for relevance
  3. distribute information in an automated and intelligent fashion
  4. apply the right data in the right case so that data analysis moves to insight and prediction
  5. companies must develop a ‘data culture’ so that data turns from information into business insights.

Wisely put! But in the reality of current economic and political climate conditions, a bit of  a dream, methinks! A kind of ‘seduction’, just as all ‘cloud’ talk: to get people to ‘think fantasy’ rather than ‘perceive reality’.

Or am I too close to reality with my analysis?

If only companies with too many time series or other complex data came to talk to me! I could certainly help with ‘business insights’ from that kind of ‘reality data’!

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About Sabine Kurjo McNeill

I'm a mathematician and system analyst formerly at CERN in Geneva and became an event organiser, software designer, independent web publisher and online promoter of Open Justice. My most significant scientific contribution is www.smartknowledge.space
This entry was posted in Data, Information, Knowledge, Time series and tagged , , , , , , , , , , . Bookmark the permalink.

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