Is it DATA or is it "Insights"?
Data and insights do not mean the same thing.
How can we make collected data more meaningful? Many studies have been completed on how much data is being generated every day.
The most recent numbers indicate that people created 1.7 MB of data every second in 2020, and by 2025, 200+ zettabytes of data will be in global cloud storage.
My point is.... there is a lot of data.
So many organizations pursue hopes of getting actionable insights from their data. Forrester reports most firms (74%) want to be "data-driven", but only about 50% are successful in driving outcomes.
As an example, my health app gives me information about how many steps I have completed today, and whether I have met my goals. At this moment, my device says I have taken 6884 steps today. This single fact is useless unless I put it in context using trending and analysis. If I dig a little deeper, I can see trends about my activity and where I stand compared to yesterday's steps. I have to choose whether to take action on this insight.
As we end the year, look for the insights and analyze to make positive steps into the new year!
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