As digital disruption unfolds, data gets to the core of value chain, and data as an asset, an important source of competitive advantage. The issue, however, is to make sense of ever-increasing diverse data. The problem is not recent as many of us may believe, here is an interesting poem written in 1939:
"Upon this gifted age, in its dark hour,
Rains from the sky, a meteoric shower Of Facts…….. They lie unquestioned, uncombined.
Wisdom Enough to leech us of our ill
Is Daily spun; but there exists no loom to weave it into fabric."
Edna St. Vincent Millay, 1939
Required Insight is fragmented in diverse data, which is disparate and many times broken and not complete.We need right solutions to weaving it together. Human abilities and existing tools are not capable of connecting and making sense of it.Some people call it 'Variety' aspect of 'Big Data' which becomes worse as it becomes dynamic gaining velocity.This results in several wasteful strategies in the digital world, whether it is the problem of promotion effectiveness in Consumer & Retail sector, or distribution, or Credit Modelling in Finance, or multi-channel advertising.
The new digital world needs more and more dynamic ability to deal with unconnected data to make smarter decisions.
The purpose is to take decisions now, so the need is to real time weave the insight embedded in diverse data sets and help see evolving future scenarios as new events happen, and data gets generated.
Creating a new set of silos of analytics, big data stores, data lakes and so on may have little impact on timeliness or quality of data-driven decisions and actions.
The strategy and architecture of underlying tools, techniques, and platforms need to focus on synthesizing insight and augmenting the human ability to decide smarter and faster.
At Singular Intelligence, we are building this new paradigm that significantly reduces, information, decision, and action latency by bringing the power of Advanced Data Analytics using Big Data and Artificial Intelligence, directly in the hands of the business user.
I would be happy to hear your views and discuss further on this.