Data Metrics: Avoiding Sour Cream
How do you surface the cream from a complex mesh of data?
1. Choose metrics that relate to a clear set of objectives.
2. Old adage, garbage in garbage out. Aggregate primary sources well, review and update often.
3. Comparing results requires consistency over time. Apples with apples.
4. Arriving at decisions is the goal. Speed / Freshness is key. Analytics should sift intelligent options based on the metrics that are important.
+Michael Wu recent article on big data was the spark to this post and it follows the theme of yesterday's post on speaking data.
http://simbeckhampson.com/2012/01/30/do-you-speak-data/
From Big Data Analytics Reducing Zettabytes of Data Down to a Few
Since we do not have the resources to act on too many choices, good analytics must reduce the big data down to a few bits to facilitate the evaluation and comparison of their utility (i.e. value, ROI, engagement, influence, or whatever it is that we are interested). This would in turn help us make an informed and hopefully intelligent choice between the few available options. ~ Michael Wu
#bigdata #analytics #decisions
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Do you speak data?
Businesses need to make smarter decisions, quicker. The smart business of the future will correlate and compute a mix of demographics, psychographics, web analytics, social analytics and business intelligence to create predictive scenarios that can be delivered in real time at the point of need; this will enable those with access to make better informed decisions that more accurately impact performance in a positive way. This creates vital brand differentiation in the market place and sustains real competitive advantage. Continue Reading
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