With more data available than ever, are companies making smarter decisions?

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in December 2014 I wrote a post titled Finding the Illusive Big Wisdom in Big Data. We’ve made great strides since then in storing, processing, and generally handling large amounts of data in a digital context, but humans still have trouble when it comes to reliably finding relevant nuggets that improve business results. can do. I am revisiting the idea of ​​how far we have come and how far we still have to go.

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Baseball is the best example of how data can affect a business. book and film “Moneyball” showed how Oakland Athletics GM Billy Bean changed the game by introducing advanced statistical analysis instead of relying on reports from human scouts. Today, baseball is ruled by analysts as much as seasoned baseball professionals – but can there be too much data?

Alex Spier writing at The Boston Globe Sunday Baseball Notes Column Recently reported that Boston Red Sox manager Alex Cora will have 11 coaches for 26 players this year. Compare this to Terry Francona in 2011, who had six for 25, and you can see that number has almost doubled.

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Spier attributes this to the increasing amount of data the team is collecting, which requires more people to observe, interpret, and implement a plan to take advantage. As Spier wrote, “The result? Many teams now have three hitting coaches, and the staff keeps growing in an effort to turn mountains of information into a digestible form for the 26 players on a roster.”

“Startups that rapidly analyze data and extract insights have garnered immense interest from investors in the public and private markets.” Deepak Jeevankumer

Baseball is like a laboratory for advanced statistical analysis, and businesses can learn a lot from observing how the game deals with expanding datasets.

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Companies shovel data into data lakes, tinker with machine learning models, and use this information to make decisions, but they still face fundamental decisions every day that involve their ever-growing mountain of information. it happens. Sure, machines and software can help solve this — in fact, they’re getting better at it — but anyone who’s dealt with poorly targeted advertising or email marketing knows that there’s a lot of work to be done.

The difference in the game now compared to 2014 is that companies are now focused on gaining insight to those who need it, says Deepak Jeevankumar, managing director of Dell Technologies Capital. “Big data has become less relevant than ‘fast data’.” E-commerce shoppers, streaming media consumers, gamers, stock/crypto traders and enterprise marketers are increasingly demanding insight and sharper knowledge,” Jeevankumar told me.

They believe that data should be analyzed at its source while streaming, and in real time after a query is made, and startups build solutions that allow companies (and baseball teams) to do so. If they are, they will be more successful in the long run.

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