Most of our businesses today produce or can produce an incredible number of data points. How do companies around the world use data to create or improve their business?
It is important to differentiate between data, information and insight.
- Data: Is the raw material, what we record.
- Information: Is the interpretation of the data to know something, it is about transparency.
- Insight: Is the interpretation of information or data to understand something you can act on to create value.
We at fluidminds / Orange Hills have created a new tool that should inspire you to leverage data in your business in new ways. The “Big Data Inspirator” has been designed to help you grasp the full spectrum of business value that can be unleashed through data.
Start by identifying for which business purpose you would like to leverage data and get inspired by the 40 real life examples that explain each pattern how to derive value from data.