Earlier this week, I read an article in a technology publication about several University of Washington professors who are launching a new course designed to overcome what they call “bulls**t in the age of big data.” The 160 seat seminar starts in late March and filled up in the first minute of online registration. The course covers the rush to apply machine learning algorithms to big data that is oftentimes corrupt and yielding less than accurate results. Beware of the overhyped big data and its potential for revolution, warned one of the professors.
Yesterday I posted a recent interview I did with a business development consultant, John Sydnor, who warned about the emerging challenge of ‘fake data.’
The throwback article for today I wrote on March 11, 2014 and in it I warn about questionable data (i.e. fake) and the failure by many Fortune 500 companies to exploit big data for competitive advantage (i.e. hype). I also give some advice for how to upgrade your big data inputs to get more strategic outputs and go from big data to knowledge.
CLICK HERE to read “Going Beyond Big Data To Knowledge.”
————————————————— Gary Drenik is CEO of Prosper Insights & Analytics, a company that prides itself on turning data into evidence-based solutions for the C-Suite. www.ProsperDiscovery.com
“We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light.” – Plato
While struggling with the topic and content of this column, the trickle of underwhelming Brick & Mortar sales results from many retailers’ holiday season began to hit the press. Many of these retailers have only now seriously begun thinking about creating a sustainable business model for the future. For some the ship may have sailed. All of which got me thinking about an article I wrote for this column three years ago. It is just as relevant today as it was in 2014. So rather than beating my head against the wall trying to reinvent the wheel, here is the article from 2014, its warnings, and even prescriptions for a new retail marketplace. Continue reading…
It’s a new year and many leading companies have new plans when it comes to their data and analytics initiatives. Target announced some organizational changes in December that include a Center of Excellence which will be led by an SVP of Enterprise Data, Analytics and Business Intelligence. Many other companies have already or will likely follow suit. However, the ideal analytics initiative will utilize many meaningful external data sets, and not just rely on internal data such as SKU’s, current customer demographics and so on. Continue reading…
In the 1960’s movie The Graduate, a recent college grad played by Dustin Hoffman is counseled by a well-meaning family acquaintance to think of one word for his future job aspirations—plastics. “There’s a great future in plastics. Think about it,” said Mr. McGuire. He asks “Will you think about it?” to which Hoffman’s character replies, “Yes I will.”