How to become an informed business
“Data is not information,
information is not knowledge,
knowledge is not understanding,
understanding is not wisdom.”
A business' lifeblood is its data, but collecting data is only the start. Data needs to flow to the teams and individuals who can use it to make good decisions in a timely manner. An informed business is one that has the right data, tools and culture to be able to turn raw data into actionable insights.
I'll talk about the challenges businesses face when using data to help with decision making and how data, experience and intuition need to co-exist to get the best outcomes.