In the past decade, there has been an explosion in the types, amounts, and variety of insights we can now gain about consumers. People are sharing more information about themselves than ever before, and the companies benefiting most from this scenario are those that know how to draw actionable intelligence from raw data and take action.
While it’s easy to believe the latest and greatest product or service is the answer to the Big Data conundrum, there is a more critical piece of the puzzle. CEOs need to challenge company leaders to incorporate data into their day-to-day, as well as short and long-term goals, and make them accountable by integrating data-driven decision making into KPIs. I’ve seen many companies that are eager to break into the world of big data, so they purchase a platform that’s incredibly robust and usually quite expensive. Then the platform collects data and sits stagnant because no one understands how to leverage it or feels compelled to do so.