Regardless of your industry, it’s virtually impossible you haven’t heard someone throw out the phrase “big data” over the past few years. But, truth be told, it’s not the size of the data that really makes a difference—rather, it’s the quality of the analytics. Kristian J. Hammond of Harvard Business Review had this to say:
“…what you want and what you need is to turn that data into a story. A story explains the data rather than just exposing it or displaying it. A narrative that gives you context to today’s numbers by exploring the trends and comparisons that you need in order to make sense of it all.”
In fact, tons of companies who tried to jump on the “data train” a few years back ended up doing little more than creating huge silos of numbers they don’t know how to use. As a result, their efforts have awarded them with very little, other than a historical head start when they finally get things right. Naturally, a number of companies have noticed this failure, and have created systems and services capable of combing through data to deliver actionable insights (including juggernauts such as IBM, and—on a more focused scale—us at CrowdComfort!).
Once an analytics ecosystem is in place, its applications are limited only to the quality of its data inputs and the imagination of its user…in some cases, analytics can provide cross-categorical insights that a company didn’t even know to ask. This versatility—combined with an increased desire from companies of all sizes to exchange “gut feelings” for evidence-based models—means that Big Data (and Big Analytics) are only going to increase their reach and efficacy across industries moving forward. In fact, if you’ve seen Moneyball, then you already understand how data has transformed even the game of baseball in just around a decade:
The truth is that good things happen when people put preconceived biases behind them, and instead focus on making decisions for the right reasons. But, as Hammond notes, this isn’t a question of eliminating people from the equation. In fact, it’s more about getting “human insight at machine scale.” And, as we at CrowdComfort believe, the best technology is that which enables people—not which tries to replace them.
Want to learn more about what analytics can do for your company’s facility management? Schedule a demo (or just a time to talk) and we can go over the basics together!