Column (blog is so passé)

Analyzing the Data (Sounds boring - right?)

15.10.10

Analyzing the Data:

Here's a bold prediction: The most profound changes in the next several decades will be the result of ongoing, real-time analysis of data.

New methods for the study of data will be core to everyone's thinking. Ever-growing volumes of data are freely available to the common man like never before. The complexity and granularity with which we ACCURATELY interpret data is paramount.

Organization of data, in all its diversity, is essential to understanding it's context and managing it's never ending growth. This must occur in real time.

More usable data, delivered in real time via new computational models like stream computing, will better equip u to make fact-based projections in a world where risk and opportunity are constantly at loggerheads. Doctors in Canadian hospitals will be able to treat high -risk newborns by identifying patterns within an array of physiological data to help detect life-threatening infections up to 24 hours sooner.

Through smarter data, we can make sense of information in all its forms - structured and unstructured, text and multimedia. Transportation systems will be better able to weigh variables to schedule rolling stock, staff and maintenance. Better able to predict weather patterns, passenger demand, fuel costs, improving operating efficiency and saving lots of money and the environment at the same time.

Lastly, through intelligent data, we can also see how information relates. Practically worthless alone, data points can be put in context, and that context can be analyzed in real time.

Thousands of companies are discovering that their data's hidden meanings don't just make them smarter, they also increase the growth, transparency, sustainability and knowledge of entire industries.

But statistics are boring to some, it's sometimes difficult to get small business owners to see what the data is telling them - and they are not always trusting - Number lie, they say. Number don't lie, worthless statisticians do.

Get on track with a knowledgeable analytics expert and start fine-tuning your business.