Big Data and data-driven marketing are two of the most prominent business buzzwords.
New technologies are giving businesses access to larger amounts of data and tools that help us analyze data faster, in larger volumes than ever before. It feels empowering in our quest for the answers. We want data to illuminate the way for us.
Data enables us to make the right decisions and to bulletproof our plans – Or does it?
[quote]”It is possible to be drowning in data and still none the wiser” – Paul Laughlin[/quote]
A couple years ago, one of the World’s most innovative companies was about to launch a massive project. They invested in a research project as large as they come, hiring three of the top consulting companies at the time, and spending 8 figures to interview 200,000 people in 54 cities and 22,000 individuals at 3000 corporations. All this research and data should have guided the project and ensured success, right? Continue reading “The Mirage of Data”