There is a lot of discussion about how the Internet of Things (IoT) will change our lives for the better. We can all help shape HOW we want it to change our lives.
The Internet of Things (IoT) is only useful when lots of data (variety and quantity) is being collected and is made available for someone or something to analyse that data and make sense out of it.
The actual use cases or problems still need to be defined by someone who has a need, and that would be us! Without a need, the effort and cost involved in collecting and storing all this data is going to be a waste.
Let’s start thinking about what problems we want solved and what we want our future to look like. We might just get what we need, rather than being given something we may not want.
An interesting take on the evolution of athletes, and how commercialisation, technology and advances in medical sciences have changed how we see them today. Maybe (un)natural selection plays an even bigger role?
And here’s a few books to add to your reading list 5 MUST-READS ON SPORTS HISTORY AND SCIENCE.
The following HBR article is a good read for those like myself, who enjoy pouring over (or analysing, for a better word) masses of data to uncover issues, trends, improvements, and so on, The beauty of what we do is not just the finding solutions part but also being able to ask questions and propose and test theories – the same as one would do when you take an educated guess. The difference is in this instance, it’s an educated guess based on data.
I published a post on “3 stand out points from the HBR case study on Data Quality issues at AT&T” yesterday.
The HBR article can be viewed here: Even the Tiniest Error Can Cost a Company Millions
We all know that data quality issues can cause frustrations, delays and hinder decision making. What we don’t always appreciate is that there a cost associated with these data quality issues. In order to elaborate this point, I’ve described 5 ways in which this cost manifests itself along with some examples of what happens in real life:
1. Cost of fixing data
Your team is always in fixing mode, ensuring all data issues reported by users are being resolved ASAP. That’s great news for the users!
Whilst this is a common situation in many organisation that I have come across, what these organisations (or their managers) fail to see is that they’re investing their technical resources to fix data problems instead of focusing on value creating activities within the organisation. In effect, these technical resources are merely expenses to the organisation. The cost to the organisation manifests itself through the hiring of new resources to perform the value creating activities or through delays to these projects due to their reliance on resources with other, more important, priorities. (more…)