Data, Data Everywhere but Not an Answer in Sight

Awash with data, how many decisions made actually use it to add value?  Too few one suspects and partly because decision-making systems are not designed for this volume.  Much is made about Big Data and the value it can add to a business.  However, there is little said about the software applications and compute power that are necessary.

Data, like information is a continuous feed from a variety of often conflicting sources. How this often subjective data is normalized which can lead to skewed results.

One has only to look at daily news casts about any given subject to find a variety of ‘opinions’ as opposed to actual non-bias reporting.  One can argue that there is no objectivity with most analyses.

So it is true with data analysis.  Data bias is a well known phenomena and clouds objectivity.  This matters most when organizations are making critical decisions.

As we enter into the ‘Smart’ era data issues will not only be on the Critical Path, they will be the possibly be a major point of failure and significant operational losses and perhaps significant injury or even loss of life.

In the last blog we discussed the difference in a methodology (The Science) vs new and often conflicting data.  We expand on the data mess, confusion, apparent flip flop, bias(es) and political agendas.

While all of this might be political sport for a pandemic.  Can you run an organization based on this data?  Probably not a successful one!

This author has addressed organizational governance issues for decades. We saw Sarbanes-Oxley, Asset Integrity, and now ESG.  It is time data had a seat at the board room?

Decision Maker Beware

Management is paid to make decisions based on uncertain, incomplete and often conflicting inputs.  It pays to have an understanding of the limitations of data and the software application decision makers.  Your carrier may depend on it.

How Do You Know that the Data Upon Which You Make Decisions is Valid and Reliable?

For More Information

Please note, RRI does not endorse or advocate the links to any third-party materials.  They are provided for education and entertainment only.

For more information on Cross Cultural Engagement, check out our Cross Cultural Serious Game

We presented, Should Cross Cultural Serious Games Be Included in Your Diversity Program: Best Practices and Lessons Learned at the Online Conference, New Diversity Summit 2020 the week of September 14, 2020.  Check Out this timely event and contact the organizer for access to the presentations!!

You can contact this author as well.

 

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