Great WSJ article on the issue of information management and decision making. Although the article is specific to the scientific community, the same issues exist in the business world (see article @ http://tinyurl.com/nscpq9)
My favorite quotes are:
○ “Our ability to collect data now outstrips our ability to maintain it for the long run”
○ “The problem is to actually capture the way scientists interact with the data,” Dr. Szalay says. “Today’s graduate students are starting to use instant messaging in their scientific work. We have to figure out how to capture these”
Sound familiar? As the research in our book, Drive Business Performance, has shown – the #1 issue organizations face is NOT shortage of data but they:
○ Have too much data that is poorly organized (leading to more exploration and fewer decisions).
○ Have too little of the right data (leading to wrong conclusions).
○ Lack a system – or sometimes even the willingness – to capture the data they really need (leading to “impaired decisional vision”).
In our book we offer ways to handle these issues starting by graduating through the “Increase Visibility” stage.
○ More on the model @ http://tinyurl.com/nvy5la
○ More on the self-assessment @ http://tinyurl.com/lpms9z
How do you identify to this issue? Would you say your organization has too much data, too little of the right one..or both?
Join the conversation @ http://ping.fm/ZTFaU