I spend my time trying to convince people on a daily basis that true business insight, real expertise, and competitive advantage can only be found in the details and specifically, how those complex details connect and interrelate. My competitors usually argue the opposite. They try to convince companies that summarized data stores and pre-canned reports are good enough. The reason is that my competitors’ underlying technology is not good enough to a) keep one true, integrated copy of the (big) data and b) allow any user to access and analyze that one true copy of data at any time.
This is not an easy concept for everyone to understand because most of us come from a long history of working from pre-canned, summarized, much of the value washed away reports. Its all we have had and we have gotten by — we did the best that we could with what we had.
I stumbled into this TED talk that illustrates the idea that “the true insight is always in the detail data” brilliantly, although that was not the goal these speakers had. This truth applies to any industry, for every industry is complex and ever-changing. It is well worth watching this short eight minute video — you will gain understanding:
The more the world architects for big detailed data and asks iterative questions of the detail data, the greater the advances we will see in our lifetime. Hail big data analytics! The world will be a better, safer place. We have only begun to invent.
I.M. Optimism Man