MANAGING in the

NEW WORLD

Not doing anything is certainly not an option, yet over analysis may also not be a business solution. With the onslaught of Big Data, companies are conducting high level number crunching to deduce the figures. Yet not all trends which come out need be accurate. There exists a major gap between raw data and actual business insights. A lot of so called insights may simply be coincidences. That is why business leaders have such difficulties in gauging genuine insights about their customers. Most of the trends captured are simply rehashes of demographic or psychographic analysis. The co-relation may hardly exist between a person’s ethnicity and the newspaper read for example. Answers to genuine questions may also be multiple. The likes of Apple and Google have reached a stage where their innovations are questioned by the market. Yet even such giants struggle to process the raw data they extract to form coherent business intelligence.

source:http://www.forbes.com/sites/rogertrapp/2016/10/27/why-leaders-face-a-tough-job-finding-what-customers-really-want/#6a27123703ca

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