Looking back over the last decade, it is plain to see that Big Data exploded seemingly out of nowhere. From a strange new term to a household name overnight, Big Data undoubtedly has more to offer in the coming years, but how to extract its many secrets? The Business Intelligence industry as a whole may indeed be hitting some road bumps with the speedy rise of Data Analytics. As described by Information Age, “just as consumers suffer from an inability to make decisions when faced with too many options (a phenomenon known as analysis paralysis), so too will some businesses when faced with the sheer enormity of a big data undertaking.”
Many companies are struggling to take advantage of Big Data. They are dealing with many new data sources and data types while the amount of data they have is rapidly increasing. The demand for a real-time response is also increasing. But there is a huge gap between the potential of this new data and the ability to deliver better business results. Because the basic approach to big data hasn’t changed – store the (big) data, fix the (big) data, centralize the (big) data and report on the (big) data.
Doing the same thing the same way and expecting different results is often used as a definition of insanity. A different, saner approach to Big Data is needed – one that closes this value gap and tackles the “sheer enormity of a big data undertaking”.
By focusing first on the decision-making, the data efforts become equally focused and simplified. This proven approach that starts with decisions is the core of decision management, and decision modeling the cornerstone technique. Putting decisions first means identifying and modeling the decisions that impact your KPIs, decisions that today are buried in your operational systems and processes. It means understanding how to improve these decisions BEFORE you spend money on analytics or new data sources and infrastructure.
If your company is ready to bridge the gap from data to actionable insight, we encourage your to learn more about our standards-based software offering, DecisionsFirst Modeler, or contact us for a free consultation.