The Data Grab Bag Game

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Re: Historical data and predicative analytics
  • 9/28/2015 12:59:34 PM
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Jim agreed it has to be storage within a specific realm we obviously don't need data on the purchasing habits of consumers in the fifties for do our modeling today.However we do need data from points in time in the past to determine trends and anomalies. There is no set timeframe because it depends on the businesses and their purchasing cycles, every business needs t make their own judgements based on their models and legal requirements.

Re: Historical data and predicative analytics
  • 9/25/2015 4:04:52 PM
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@Jamescon on the other hand, I've heard a few stories of organizations doing spring cleaning and deciding to throw out boxes of historically-important documents, which the early employees of the companies painstakingly compiled because they were going to be important references for later generations. Unfortunately, sometimes, newer employees don't have enough discretion because they don't quite understand the organization as well as their predecessors did. There should be a way to prevent a similar mishap for computer data.

Re: Historical data and predicative analytics
  • 9/25/2015 2:08:51 PM
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@Maryam. I'll disagree to a point. Holding onto old data is fine as long as you not only know what you are holding it and as long as doing so doesn't take you off track in completing your corporate mission. (Storage may be cheap but the people cost in managing it and organizing it isn't)

Yes, there are gems to be found, including some that could lead to bottom line gains down the road. But, most of what we save "just in case" is simply junk. On a personal level, downsize your housing and see how many items have sat unused for five, 10, 15 years, maybe since the last move. In the corporate realm, some guy named Fred resigns and a manager decides that someone should keep Fred's old documents, and they even forward Fred's calls and emails to you. After a month you realize that you will never tap into anything that Fred left you.

All of this is why I'm a big proponent of some sort of triage for long-term storage. That gives you an opportunity to  1) Evaluate whether someone sees potential for a data set and 2) If they do see potential then be sure to carefully label and organize that data so that when the potential becomes real some future employee can actually find it.

Re: data
  • 9/25/2015 1:45:55 PM
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Magneticnorth, absolutely and also the budgets and manpower to maintain an analytics infrastructure long term.

Re: data
  • 9/25/2015 1:48:46 AM
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@CandidoNick it's true that the technology is available, but using analytics in a business isn't just about that. It takes a lot of managerial work to put the system in place. Not all organizations have the resources (manhours, skill), not to mention the desire, to lay down the groundwork for analytics to flourish.

Re: data
  • 9/23/2015 2:02:45 PM
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Terry, absolutely some business cases are very one sided to drive approaval not to better the business.

Re: data
  • 9/6/2015 1:47:24 PM
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True, Maryam... or they're just stabbing wildly in the dark, hoping to find something -- anything -- to build a business case or create "an actionable insight." The cartoon is testimony to the desperation (and foolhardy-ness) that plagues some organizations when it comes to data management and analytics.

Re: data
  • 8/31/2015 2:34:44 PM
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It's word to hear, especially because we ina digital age, where it could easily be stored and located on any device... cmon people!

Re: data
  • 8/31/2015 2:27:14 PM
NO RATINGS

 

I would love to think so Nick, but I have seen many companies make decisions with no analysis into the past indicators either because they couldn't mine the data or didn't have it.

Re: data
  • 8/31/2015 2:05:37 PM
NO RATINGS

Don't we already? Studying trends of the paSt is integral when analyzing the future.

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