What’s Big Data Missing? Agility and a Little of that Human Touch

Featured article by Guy Levy-Yurista, Head of Product, Sisense

In today’s Big Data and Business Intelligence landscape, the amount of data continues to increase at exponential rates in every industry – from healthcare and financial services to retail and marketing. In the past two years,more data has been created than in the entire previous history of the human race. And it’s happening at organizations of all sizes – a one-year old startup has more data today than a Fortune 50 company had 20 years ago.  Over the past year, the number of organizations that have deployed or implemented data-driven projects has increased by 125 percent.  At the same time, data is also changing, in terms of both where it comes from and how we access it.  The challenge that arises for companies across all industries is how organizations can extract insights that are actionable and ultimately add business value.  To do this you need more than just the data, you also need human interaction.  The key to solving this puzzle is providing agile technology that works hand in hand with a human business analyst.

Agility

There is a need across industries for businesses to make smart decisions faster. A retailer, for example, can no longer wait weeks or months to analyze sales and inventory data – they need those data insights to be ready the same day or even within a few hours to better adjust their sales strategy. The problem, however, for the average retailer, is they don’t have the IT budget or resources of say, Amazon or Walmart, to analyze the overwhelming amount of messy data they are aggregating. Even large companies that do have the budget and resources, can’t afford to wait around for IT to organize their various data sets and prepare them for analysis. Typical BI tools still require IT to prep the data they need, and organize it nicely (think days of modelling, physical blending etc.) to be able to analyze and visualize it. However, this built-in delay in the process could be costing companies millions of dollars and their agility.

In order to achieve this agility, we are starting to see a shift in the data market towards technology solutions that help businesses of all sizes better analyze their data, in particular, self-service technology applications that enable faster, more effective analysis – without the need for heavy IT involvement. By removing the IT bottlenecks, business users can analyze data and make adjustments in hours instead of days – driving more ROI. When you have a gut feeling or Eureka moment – there’s no time to wait.

As the pressure continues to mount for companies in every industry, the need to have an agile system for analyzing data is paramount in order to stay competitive. However, technology is not the end all when it comes to making sense of messy data. While technology is crucial to aid companies in being more agile in their approach to Big Data, the computer can’t completely replace humans yet.

The Human Touch

We continue to see technology innovation in the business analytics market, and it is becoming increasingly available to help companies improve agility and efficiency. As technology continues to improve, however, more individuals and businesses alike expect that technology can solve all their problems. While the algorithms being used in the field can work well, when paired with the critical thinking skills of a human, these algorithms can be improved to make connections that wouldn’t otherwise be seen simply by a machine.  In the healthcare industry, medical professionals are increasingly relying on technology to aggregate and analyze data to help triage patients and identify trigger signs for medical intervention. However, data alone cannot provide the full picture in the same way a doctor sitting in the room can– there is still an element of human connection needed to optimize the treatment.

A computer can be programmed to account for the routine, and in some cases even predict the unexpected, but there is still a grander, more holistic picture that only a human can see, and that is where companies in every industry have a true opportunity to get ahead of the competition – though it isn’t always easy to achieve.  The solution is finding a way for humans to work intelligently with technology, in all scenarios. When dealing with complex data, though, this often means complex tools and complicated analysis – a job that requires heavy IT lifting and puts strain on the human and technology relationship. For man and machine to work together in an impactful way, analytic tools need to be accessible to average business users. You need the right tools to arm humans with the ability to makes sense of the data.   When you do, your business users and analysts can ask the right questions, quickly find the answers, and benefit from both the speed/breadth of computer algorithms but also the intuitive sense that only a human brings to real problem solving.  In the end it is this combination that distinguishes the most successful organizations.