If you are bad at something, doing more of the same thing without improving what you do will only make a bad situation worse.
This logic appears to have been lost on many in the data industry now discussing ‘big data’ opportunities as if the past few years of customer data mistakes never happened.
Data errors are plentiful and occur daily, ranging from the comical to criminal.
From a consumer’s perspective this is already an age of big data. A recent study by Experian QAS highlighted the average consumer has lived at eight addresses, has four functioning email addresses and two mobile phones.
Yet business’ inability to keep up has led to three out of four consumers receiving errors in recent communications, nearly half are annoyed by data errors and a third worried about what else is held incorrectly. Consumers will see big data as a big problem.
Business leaders are overwhelmed too. According to IBM, 90% of the data we produce has been created in the last two years, leading to one in three business leaders not trusting the information they use to make decisions.
So with consumers and business leaders skeptical, efforts are needed to get the present ‘Little Data’ houses in order and demonstrate capabilities to the board and consumers to convince them that the ‘Big Data’ era is worth participating in.
Posted by Christopher Brooks.
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