Smart Data - Not Big Data
If we continue with that mathematical path, we would reach the second part, which is "providing answers to the question." And the smart answers are in the forms of yes/no, probability figures or some type of scores. Like in the weather forecast example, the question would be "chance of rain on a certain day" and the answer would be "70 percent." Statistical modeling is not easy or simple, but it is the essential part of making the data smarter, as models are the most effective way to summarize complex and abundant data into compact forms (refer to "Why Model?").
Most people do not have degrees in mathematics or statistics, but they all know what to do with a piece of information such as "70 percent chance of rain" on the day of a company outing. Some may complain that it is not a definite yes/no answer, but all would agree that providing information in this form is more humane than dumping all the raw data onto users. Sales folks are not necessarily mathematicians, but they would certainly appreciate scores attached to each lead, as in "more or less likely to close." No, that is not a definite answer, but now sales people can start calling the leads in the order of relative importance to them.
So, all the Big Data players and data scientists must try to "humanize" the data, instead of bragging about the size of the data, making things more complex, and providing irrelevant pieces of raw data to users. Make things simpler, not more complex. Some may think that complexity is their job security, but I strongly disagree. That is a sure way to bring down this Big Data movement to the ground. We are already living in a complex world, and we certainly do not need more complications around us (more on "How to be a good data scientist" in a future article).
Stephen H. Yu is a world-class database marketer. He has a proven track record in comprehensive strategic planning and tactical execution, effectively bridging the gap between the marketing and technology world with a balanced view obtained from more than 30 years of experience in best practices of database marketing. Currently, Yu is president and chief consultant at Willow Data Strategy. Previously, he was the head of analytics and insights at eClerx, and VP, Data Strategy & Analytics at Infogroup. Prior to that, Yu was the founding CTO of I-Behavior Inc., which pioneered the use of SKU-level behavioral data. “As a long-time data player with plenty of battle experiences, I would like to share my thoughts and knowledge that I obtained from being a bridge person between the marketing world and the technology world. In the end, data and analytics are just tools for decision-makers; let’s think about what we should be (or shouldn’t be) doing with them first. And the tools must be wielded properly to meet the goals, so let me share some useful tricks in database design, data refinement process and analytics.” Reach him at email@example.com.