Poor data accessibility is like a witty comment you think about long after the conversation has ended. Like that time when you woke up 3 hours after the party was over, and you had the perfect punchline to that joke that was going to make everyone die laughing. Only now, the conversation is your business, and far too often, the joke is your data.
Clive Humby of the Kellogg School once said, “Data is the new oil!”
We are talking about 2008 $144 a barrel oil prices, not the namby-pamby 2015 less-than-$50 a barrel oil prices. Data, much like oil, permeates our personal lives (thank you Google), helps us make better decisions as business leaders and is used to enhance how we think about the world at large (see The Rise of Big Data).
But whether or not the data-to-oil metaphor works – I can tell you what data is not like. Data is not like a fine wine that gets better with age. Fresh, relevant, and poignant data is what is most valuable to your organization. Fresh data can be an invigorating tonic of motivational knowledge which serves as a catalyst for organizational change.
However, with data constantly at your fingertips, a new problem emerges. Analysis paralysis keeps us reaching for more and more data without making decisions.
Analysis paralysis or paralysis of analysis is an anti-pattern, the state of over-analyzing (or over-thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome.
To stave off analysis paralysis you need to make sure that your data strategy is setup correctly and that you can get access to your organization’s data when you need it, how you need it, and the way you want it.
When it comes to helping you get your barrel of data out of the ground and refined in the right way, Asemio is your data expert. Take action on your data. Check out our website. Give us a call. Read our clients’ responses to what we’ve done for them. Don’t take our word for it. Come see what people are saying.