Extracting Insights from Vast Stores of Data via Harvard Business Review (Rishad Tobaccowla & Sunil Gupta, authors)
Companies have invested millions of dollars in big data and analytics, but recent reports suggest most have yet to see a payoff on these investments. In an age where data is the new oil, how are smart companies extracting insights from these vast data reservoirs in order to fuel profitable decisions?
Companies that have been successful in harnessing the power of data start with a specific business problem and then seek data to help in their decision-making. Contrary to what Anderson preached, the process starts with a business problem and a specific hypothesis, not data.