Whether it is a drop-off of repeat customers or shifts in consumption patterns or even attempts at breaking into a new geographical market, big data and its application through advanced business analytics has been seen as the panacea. The business world today understands the formula of ‘more the better’ when it comes to data. However, once probed deep, data cannot explain the motivations behind individual behaviours. That is why team leaders must help their colleagues understand what data can do and what it cannot achieve. One has to understand its true strengths and weaknesses. One thing it can best do, is reveal the “what” of any problem. But it rarely determines the “why”. To understand this “why”, a qualitative approach is necessary. One also needs to factors in the temporal issues such as those influencing behaviours. And finally, one needs rigorous testing before identifying a solution.

Source:https://hbr.org/2018/10/help-your-team-understand-what-data-is-and-isnt-good-for

Uploaded Date:16 October 2018