How to Drastically Increase the Impact of Your Data Decisions

Posted by erikemanuelli under Strategy
From http://www.inc.com 3181 days ago
Made Hot by: pvariel on August 12, 2015 10:29 am

Entrepreneurs are often inundated by too much data. You need to cut through it in order to make strong decisions from it.

At least 2.5 quintillion bytes of data is produced every day (that's 18 zeros). In 2012, the entire World Wide Web was estimated to contain approximately 5 billion gigabytes of data. By 2020, the number is expected to grow to over 400 billion gigabytes.

To solve this problem and help you make better decisions using the data, this post suggests four simple steps to follow.

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Comments

Written by Amitkr404
3180 days ago

I personally feel that in order to make strong decisions about Data, people feel very confused. Although, it's a quite tough job too. I would say the first point is really appropriate because whenever we think about any kind of particular data analysis and data decision then we must think much deeply about which kind of problem being defined by it and what problem can be solved through it.

Thanks for this amazing guide !!

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Written by GrowMap
3181 days ago

Too much data is worse than no data - to say nothing of bad data. We had a saying in IT: garbage in - garbage out. Companies need to hire data analysts with common sense who understand their industry. Only then will they draw the correct, actionable decisions from the data they collect. That expert can create graphs to make it obvious what they're recommending.

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Written by nikhilganotra
3181 days ago

Great Share, Erik!

I truly agree with the 4th points that is to create visualizations. Metrics can be easily understood in the form of visualizations than the rough data. Even I make use of visualizations for my small blog to understand behaviour of my readers.

Thanks for sharing! :)

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