View profile

You have some data. Now what?

In business we understand data is essential for decision support systems, as a rationale for change a
Disruptors Handbook
You have some data. Now what?
By Disruptors Handbook • Issue #118 • View online
In business we understand data is essential for decision support systems, as a rationale for change and as a mechanism to drive engagement with customers. And because there are ever-expanding opportunities to collect data, with the rise of sensor based technologies in the workplace, tracking technologies for both goods and people, as well as alert systems for changes to markets, customer behaviours and even search terms, the volume of data you can collect at little to zero expense is significant.
But what do you actually do with a that data once it’s collected? How do you know the data you have collected is useful for your business, or even statistically significant?
You could store the lot in a bunch of spreadsheets or databases, but they are not going to provide you with much in the way of useful insights unless you can identify relationships between data elements.
What you need is to be able to easily identify what factors are influencing outcomes. And we humans are visual beings. So data visualisation is key.
There are a few tools you can use to help you visualise the data you have collected. That can help to determine potential correlations and be a launchpad for more detailed processing. And while you will need to invest some time in learning how to use these tools, the best of them are seeking ever-more intuitive mechanisms to control how data is processed and displayed, in order to unearth the nuggets of gold that can be hiding in a data array. You’ll have to watch out for spurious correlations, but so long as you apply a little common sense and test each finding, you will generate valuable empirical evidence.
The trick with data turns out not to be a trick. It’s part of your day-to-day business activity to seek out where correlations might exist, and to find ways to capitalise on those connections.

For: Corporate Innovators
How to Build Great Data Products
For: Your Crowded Diary
LinkedIn Local Sydney - PANEL EVENT
For: Tech Entrepreneurs
Illuminating the 'dark web'
For: The Global Executive
What you need to know about sustainability
For: Innovation leaders
The Disrupt Podcast
Disrupt Podcast - Disruptor's Handbook
And the Hackathons!
Big List of Hackathons in Australia - Disruptor's Handbook
Did you enjoy this issue?
Disruptors Handbook

Latest news on corporate innovation and enterprise startups from the Disruptor's Handbook.

If you don't want these updates anymore, please unsubscribe here
If you were forwarded this newsletter and you like it, you can subscribe here
Powered by Revue
Level 4, 91 Campbell Street, Surry Hills, NSW Australia