For our European readers, here’s a company that does a better job articulating what we feel about business analytics than we do.Â It is like they are in my head.
On the increasing amount of data...
The amount of complex data is growing faster than our capabilities to analyze it. Large investments are put into collecting data and building data warehouses. How to get something out, and use the potential of the data collection often comes as an after thought only.
...and the ineffectual tools for understanding this data...
The methods and the technology to keep an overview of this flood of data, to put it in context, and turn the resulting information into useful knowledge are still few and far. This distilled knowledge however is what will give a competitive advantage to companies trying to stay afloat in the emerging knowledge economy.
The tools that do exist are linear and machine-centered, and force people to formalize their thoughts and adapt their way of working to the rigidity of machines. It is in this gap that we see our opportunity to make a difference and be successful.
What is needed are tools that fit the fluid way in which we think and work and that are intuitive to use.
There are surprisingly few companies that really understand these problems and have started to chart a better path.Â We’ve spoken to a few - DecisionStudio, Perceptual Edge, and even Anant Dhingran at IBM - but we’d love to hear from more.