Data Alone Is Not A Winning Proposition

I was fortunate enough to be asked by Ari & David Goldberg to speak at their State of Style Summit which was held today at the 92st Y in Tribeca.  They threw an A+ event and the turn-out of attendees was awesome; it looked like standing room only from the stage.  Job well done, Goldbergs.

On stage, I talked about data and the application of data for marketing along with Joe Zawadzki from MediaMath and Albert Azout of Sociocast.  I was on a tangent a bit and gave the crowd a laugh with the following quote:

It got re-tweeted a lot.

Looking back at it, it is immensely important.

Data is at all of our finger tips.  When you step on the scale each morning, look at your fitbit stats, log into your Mint.com account, or even review your Amex charges, you are looking at data that can then be turned into insights and then be actioned upon.

However, data alone does not mean action.  When I step on the scale in the mornings and am trending towards Alec Baldwin rather than Ryan Gosling, I’m not actioning data.   This is important.  Data alone does not make decisions.

An organization built for the next century is one who has to be able to wonk through large datasets, find insights and action them.  Just having data alone is not a winning proposition.  It’s the application of data, the extrapolation, and understanding that will lead to competitive differentiation.

If I was actioning the data from the scale, I’d not be eating this delicious chocolate chip cookie and tea from Mae Mae Cafe as I wrote this post.

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  • http://twitter.com/thinkdavid David Chen

    …but decisions should be based on sound data.

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