Cartoon posted with the kind permission of Timo Elliott
Opinions Are Good. Data is Better.
It’s true companies today are spending less time arguing about who has the better opinion. They are able to make better informed decisions based on the data they have on hand. When companies turn their existing business into a “data business.”, it’s called Datafication and that is the direction most big businesses are going today. These are businesses that have got serious about their data and have realised that leveraging the data they possess can be of enormous value. What’s interesting is that even non-traditional businesses are going down the datafication path. Here is an interesting article on The Datafication of the NFL. It talks about how the eight NFL teams are using devices to track and log information like movement, speed and acceleration of players. This data is than datafied and used by coaches and managers to improve player performances.
Read the full article here