Welcome!

@DXWorldExpo Authors: Yeshim Deniz, Zakia Bouachraoui, Elizabeth White, Pat Romanski, Liz McMillan

Related Topics: @DXWorldExpo, Java IoT, @CloudExpo

@DXWorldExpo: Blog Post

How to Transform Data into Insight By @MMoscovici | @BigDataExpo #BigData

Data collection without perspective is almost as dangerous as collecting no data at all

In many businesses, leaders at higher levels feel pressured to collect data from every direction: sales numbers, customer support resources, client health scores - anything and everything that might tell them something about their company that isn't apparent outside of the metrics. They measure and measure without understanding why or having a plan for what they might find.

Data collection without perspective, however, is almost as dangerous as collecting no data at all. Vanity metrics, those that look impressive but don't lead to real insight, simply tell you what you already know. You won't get the results you want by collecting data indiscriminately and running an algorithm over all of it.

Even more frustrating than using data to make decisions for the future is utilizing data to analyze the past. If you don't know  tie your data back to your growth, you risk misattributing your success to the wrong factors and making mistakes that could have easily been corrected if you looked at the available information under the proper lens.

You need more than data to make better decisions; you need insight.

Transforming Data Into Insight
None of the struggles that companies have with data should indicate that they don't need it or that data-driven decisions are overrated. On the contrary, good data is critical to success in the information age. Companies that use data effectively are five times more likely to make faster decisions than companies that do not and twice as likely to reach the top 25 percent of financial performers within their industries.

Data isn't the enemy; the trick is to use it the right way. You can start by following these guidelines:

  1. Be strategic from the outset. Build a data analytics plan, and see how each piece fits into the next before you start to measure.

What works for one business likely won't work for another. Create a personalized data-collection strategy for your business, or you'll find yourself struggling to understand a pool of numbers meant for someone else.

Keep your data clean at the collection stage. If you start by populating charts and spreadsheets indiscriminately without a larger goal in mind, the charts won't end up telling you much. Remember, numbers without a defined purpose are just vanity metrics.

Data is an infinite resource, so volume doesn't matter quite as much as curation. Curate the right data before creating charts and visuals - it might not look as impressive on the back end when you only have 25 percent of the volume you could have collected, but when you assemble the right information, your uses for it will have more impact.

Once that data is part of a visual, you might see that your sales are up from this time last year or that your marketing campaign generated more spam than results. If you didn't set out to measure those things specifically, you would have trouble identifying the root cause of the changes in the sea of information. Data provides the raw material, but insights create an invitation for further questioning.

  1. Review your strategy. Once you've made a plan for your data, collected it, and gathered some great insights, do a meta-analysis of that process to see why you got the results you did.

Unless you're exceptionally talented or exceptionally lucky, your first plan to draw insights from your data won't be perfect and will likely contain some meaningless or misleading metrics.

Every piece of data you gather needs to serve a purpose. If you find some information that doesn't, purge it from your analysis to make things go more smoothly next time. The more you eliminate unnecessary data, the easier it will be to gain insights from the metrics that really matter.

  1. Integrate your insights. Don't let your quality insights sit on a shelf; make a plan to put that information to work as soon as possible.

Coffee giant Starbucks asked its decision scientists to crowdsource ideas from customers through its My Starbucks Idea program, which allows customers to communicate with the company about ideas they have for growth. Starbucks gathered business data specifically to prepare for this initiative, so when customers have good ideas for the business, decision scientists for the company have the resources they need to analyze the suggestions and decide whether they're feasible.

Some companies like to use a push intelligence layer to find anomalies in data and alert regular business users through a simple interface on their phones or computers. How you decide to do this depends on your business processes, but you must take action somehow. The worst thing you can do with your hard-earned insights is nothing.

The technology to collect data came before the knowledge of how to make good use of it, so some business leaders have been victims of our own technological progress. Now that you know how to prepare for data collection and curate it carefully, transform that raw information into insights that will help your company grow without being the victim.

More Stories By Marius Moscovici

Marius Moscovici is the founder and CEO of Metric Insights (http://www.metricinsights.com/). He founded the company in 2010 with the goal of transforming the way business intelligence is performed so that organizations of any size can quickly and easily deploy powerful analytics. Marius has over 20 years of experience in analytics and data warehousing and was previously the co-founder and CEO of Integral Results, a leading business intelligence consulting company that was acquired by Idea Integration. Marius also formed and led the data warehousing and real-time analytics group at Linden Lab, the creators of Second Life.

DXWorldEXPO Digital Transformation Stories
ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of computational needs for many industries. Their solutions provide benefits across many environments, such as datacenter deployment, HPC, workstations, storage networks and standalone server installations. ICC has been in business for over 23 years and their phenomenal range of clients include multinational corporations, universities, and small busines...
DXWorldEXPO LLC announced today that Nutanix has been named "Platinum Sponsor" of CloudEXPO | DevOpsSUMMIT | DXWorldEXPO New York, which will take place November 12-13, 2018 in New York City. Nutanix makes infrastructure invisible, elevating IT to focus on the applications and services that power their business. The Nutanix Enterprise Cloud Platform blends web-scale engineering and consumer-grade design to natively converge server, storage, virtualization and networking into a resilient, softwar...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve fu...
Only Adobe gives everyone - from emerging artists to global brands - everything they need to design and deliver exceptional digital experiences. Adobe Systems Incorporated develops, markets, and supports computer software products and technologies. The Company's products allow users to express and use information across all print and electronic media. The Company's Digital Media segment provides tools and solutions that enable individuals, small and medium businesses and enterprises to cre...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...