Having the right Business Intelligence Tools to harvest the velocity, volume, and variety of data makes a huge impact on how you make evidence-based decisions. In a post in the Harvard Business Review, The Value of Big Data Isn’t the Data, Kristian J. Hammond describes coupling the power of data with a contextual narrative to provide more concrete actionable results.
Here’s an example from the post from:
“For the most part, we know what we want out of the data. We know what analysis needs to be run, what correlations need to be found and what comparisons need to be made. By taking what we know and putting it into the hands of an automated system that can do all of this and then explain it to us in human terms, or natural language, we can achieve the effectiveness and scale of insight from our data that was always its promise but, until now, has not been delivered. By embracing the power of the machine, we can automatically generate stories from the data that bridge the gap between numbers and knowing.”
Let’s be fair though, not everyone needs the same “narrative” from their big data harvest. Actionable results can come from all kinds of triggers such as underutilized resources that need to be consolidated. Right-sizing the provisioning of network bandwidth at the enterprise level has a huge impact on customers and end-user experience. Business processes that support internal productivity can be adequately tweaked with or without a narrative.
Find out what others are doing—your peers using the solutions offered now—check out IT Central Station’s lineup of the most reviewed business intelligence solutions here.