OCDQ Blog
NOV 18, 2011 12:41pm ET

Related Links

IBM Introduces Watson to Consumers in Service for USAA Clients
July 23, 2014
Majority of Organizations Claim ‘Advanced’ Data Environments, Practices
June 5, 2014
C-Suite Tweets about Profit Performance
June 4, 2014

Web Seminars

How Customer Analytics Can Lower Costs and Raise Revenue
July 29, 2014
Improve Omni-channel Shopping Experience with Product Information Management
August 21, 2014

The Speed of Decision

Print
Reprints
Email

In a previous post, I used the Large Hadron Collider as a metaphor for big data and big analytics where the creative destruction caused by high-velocity collisions of large volumes of varying data attempt to reveal elementary particles of business intelligence.

Get access to this article and thousands more...

All Information Management articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to:

  • Full access to information-management.com including all searchable archived content
  • Exclusive E-Newsletters delivering the latest headlines to your inbox
  • Access to White Papers, Web Seminars, and Blog Discussions
  • Discounts to upcoming conferences & events
  • Uninterrupted access to all sponsored content, and MORE!

Already Registered?

Advertisement

Comments (2)
I think the relationship between decision speed and data quality needs to consider many other variables beyond speed; eg decision scope, time horizon, consequences of being incorrect etc. I agree organizational ability to recognize and adjust to errors is an important factor. An incorrect decision based on poor data could still get you to the best answer sooner if a constant continuous improvement mindset (as you point out, fail fast but learn). Individuals, especially children, operate that way but it is much more difficult for organizations. Organizations need to see the entire cycle, from data to decision, in order to find and address the constraint to being faster and better decision makers. Cliche, but I think the issues this blog raises really illustrate that partnership across functions, connecting the white space, asking "when" instead of yes or no questions, is important to getting data driven decision making, BI and data quality to the next level.
Posted by Ed U | Sunday, November 20 2011 at 6:22PM ET
Thanks for your excellent comment, Ed. Especially your point, "an incorrect decision based on poor data could still get you to the best answer sooner if a constant continuous improvement mindset" is being used. I believe that the biggest obstacle to taking data management and business intelligence to the next level is that the organization is inherently biased against believing that poor data quality and poor decision quality are prevalent. Instead of a constant continuous improvement mindset, most organizations prefer a constant continuous blissful ignorance mindset. Which is why so many organizations complain when they are blindsided by data management disasters and business intelligence blunders. Although the business world will never be totally predictable, we can not turn a blind eye to either the need for data management and business intelligence best practices, or the reality that no best practice exists that can completely eliminate the potential for poor data quality and poor decision quality. A key concept of statistical process control and continuous improvement is the importance of closing the feedback loop that allows a process to monitor itself, learn from its mistakes, and adjust when necessary. The importance of building feedback loops into our decision making is too often ignored. Best Regards, Jim
Posted by Jim H | Monday, November 21 2011 at 9:52AM ET
Add Your Comments:
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Twitter
Facebook
LinkedIn
Login  |  My Account  |  White Papers  |  Web Seminars  |  Events |  Newsletters |  eBooks
FOLLOW US
Please note you must now log in with your email address and password.