“Not everything that can be counted counts, and not everything that counts can be counted.”
– Albert Einstein
We have so much data today; but we don’t have enough insights derived from the valuable data to support business decisions or actions.
Kelle O’Neal‘s excellent article “ 5 critical success factors to turn data into insight” on the CIO magazine has put together a list of 5 key factors that data analytics can drive business success:
It is the understanding of the business purpose for the activity and assessment and recognition of the value that the activity provides to the organization.
It is the knowledge that you have about the data, it’s content and location.
It is the meaning of the data and whether it is accurate for the purpose being used.
It is the Centralization of project management process, systems development process, and operational process by applying Data-centric processes.
It is to drive the need for better data-oriented knowledge and skills among the staff.