Posts tagged big data
When Big Data Can't Predict

Most people think that in the age of big data, we always have more than enough information to build robust analytics. Unfortunately, this isn’t always the case. In fact, there are situations where even massive amounts of data still don’t enable even basic predictions to be made with confidence. This challenge of big data that can’t be used to predict seems like an impossible paradox at first, but let’s explore why it isn’t.

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Data Preparation: Is the Dream of Reversing the 80/20 Rule Dead?

I recently had someone ask me, “For years we’ve talked about changing analytics from 80% data prep and 20% analytics to 20% data prep and 80% analytics, yet we still seem stuck with 80% data prep. Why is that?” To explain, we need to differentiate between a new data source and/or a new business problem and existing ones we have addressed before.

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Approach Big Data Analytics Like a Lego Kit

A few months back I was having a conversation with a colleague of mine, Brad Elo. We were discussing the importance of operationalizing analytic processes and the need for the use of repeatable and standardized components to enable success. As part of the discussion, Brad brought up a terrific parallel between Legos and analytics that clearly illustrates the importance of approaching the analysis of big data correctly.

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A Brief History of Big Data Analytics

I had the opportunity back in June to attend IIA’s CAO Summit in Chicago, where I sat on a panel discussing the topic “Creating an Analytics Culture.” The session was kicked off by Tom Davenport, the recognized ‘guru’ of analytics who has written several books and many articles on the subject. Tom founded the International Institute of Analytics, and I work with him and his team as a lead faculty specializing in Manufacturing for IIA.

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