Comments
When Data Hoarding Makes Sense
View Comments: Newest First | Oldest First | Threaded View
Page 1 / 2   >   >>
Re: To hoard or not to hoard
  • 7/29/2014 8:27:39 AM
NO RATINGS

@Hospice_Houngbo. Keeping as much data as your budget allows sounds good on the surface, but you aren't doing much for data quality if you spend money on junk. Plus there may be apps that require more data than the budget allows, which means going back to senior management to ask for more money.

Re: To hoard or not to hoard
  • 7/28/2014 11:15:52 PM
NO RATINGS

I guess all the advice for tossing out unused items from the garage won't help sift through the data, no matter how old.

Re: To hoard or not to hoard
  • 7/28/2014 10:32:33 PM
NO RATINGS

@JamesCon:

"Storing huge volumes of Youtube videos or maps or photos or social media streams?  Consider the relevance before doing so. "

Right! One "relevant" solution would be "keep as much data as your budget will allow". What do you think about that?

Re: To hoard or not to hoard
  • 7/28/2014 10:12:43 PM
NO RATINGS

@Phoenix

"Data stored today might not be relevant at a future date when you finally analyse it."

Good point, but how long do you think the data should be kept before it can be disposed of? Is there any standard assessment tool or technique that can help determine the period of validity of the data?

Re: To hoard or not to hoard
  • 7/28/2014 1:22:00 PM
NO RATINGS

@Pierre. I agree about timeliness. We're not talking about six month old sales data or customer buying patterns here. That stuff is going to get saved anyway, and does help to put today's numbers in perspective. Storing huge volumes of Youtube videos or maps or photos or social media streams? Consider the relevance before doing so. 

Re: To hoard or not to hoard
  • 7/28/2014 12:02:40 AM
NO RATINGS

Data stored today might not be relevant at a future date when you finally analyse it. People may no longer buy the same product or that product could be obsolete. It would make sense to see what data you are actually storing and whether future innovations could make it useless.

Re: To hoard or not to hoard
  • 7/27/2014 8:11:59 PM
NO RATINGS

Jim, that's an excellent contrast, people vs data storage.  Storage may be coming down in costs, but having analysts making sense of the data becomes critical.  And the scenario can be self-feeding - store data in the hopes that it will be useful someday once we have people on board.  But timeliness is what brings value for an analysis.

Re: To hoard or not to hoard
  • 7/27/2014 8:09:09 PM
NO RATINGS

I agree about the memory cost associated with data storage.  It's like cheap gas and the American propensity to drive more when gas feels affordable.

Re: To hoard or not to hoard
  • 7/26/2014 8:32:38 AM
NO RATINGS

The cost of data storage makes keeping everything attractive. The problem lies in affording to make use of it. At some future date, it might make sense to form a department to go back and incorporate that "old" data , and formulate some ideas for it's use. But, probably most companies that store everything probably can't make full use of it right now.

Re: To hoard or not to hoard
  • 7/25/2014 8:10:49 PM
NO RATINGS

On this issue, there is no right/wrong position. Goals, needs and circumstances vary by industry and organization with change being a constant. Aimlessly gathering and endless storing without clearly defined objective is wishful thinking, not sound practice. Data doesn't turn bad as perishables, but range of use and max value may diminish over time.

Page 1 / 2   >   >>


INFORMATION RESOURCES
ANALYTICS IN ACTION
CARTERTOONS
VIEW ALL +
QUICK POLL
VIEW ALL +