xsevensinzx (9/30/2014)
I didn't really agree with this article because I felt it put too much emphasis on predictive or making decisions rather than mentioning data that represent results.For me, making decisions based on data or making predictions on what the data is telling you right now versus showing what the data is done or the results are two separate things. Showing what we have done versus what we are going to do may entail two different values to a company.
In digital marketing, especially in an agency environment where reporting data on results is justification for your entire existence and relationship with your client. Therefore, it's not easy to say that data, regardless of the use in predictive analytics or decision making, is not like our oil when our business model needs it to thrive.
But, that's just me.
Extracting useful information from terrabytes of data could perhaps be compared to extracting gold from sand. It takes an exceptionally rich source of sand to begin with, plus people with know how, plus investment, plus hard work. Of course there have been many commercial failures and outright scams over the years resulting from the quest to get a return on investment on this type of thing; both data and sand.
"Do not seek to follow in the footsteps of the wise. Instead, seek what they sought." - Matsuo Basho