Ingenuity and Data Analytics

It is amazing to see that the world is in a rush to capture the data and termed ‘Data is the new oil’. All of the industry is skewed in collecting and analysing the data, but give less preference to the ability of individuals to ask the more pertinent question for problem-solving.

It is encouraging to assimilate all the possible touch points, but the real problem-solving remains in what are the real problems involved and how does the data collected provide enough insights to the same problem and solution. Data should often be used as an enabler of problem solutions.

In this digital era, we often undermine the activity of thinking. It’s the pure thought processes that would open up venturing into unchartered territories and enable path-breaking innovation. This is often reflected with no major discoveries happening in recent memory other than cool gadgets and processes improvement with data.

It is easy to get lost in the vast sea of data. The vast treasures of data often amuse anyone. The data to an analytical adult is like a toy for the child. The child often amuses in getting a new toy, will again go in search of a new toy, once he losses interest in the present one.

The date often helps to understand the pattern, outliers, monitor and provide the feedback loop on the system. A truly inspiring and visionary business cannot be developed or harnessed based only on date. Similarly, a new product or service that provide a meaningful impact on humankind cannot be solely built on data alone.

The new business or the unicorns sprouting may find it difficult to clearly differentiate between the core business, but they boast of how they manage and harness data. The sole competitive advantage built on data will have fewer entry barriers.

Being submerged in the data often makes you omnipotent, but inputs you in a vicious circle of tunnel thinking. It's often very difficult to move out from the vast ocean of data and to have a birds view of the complete problem and prioritise the same.

?Data plays a critical role for any management similar to the readings of vitals for the surgeon during a crucial operation theatre. The vital readings keep the surgeon aware of the present situation, but the success of the surgery depends on the skills of the surgeon, not solely on the data which is thrown to him in all the seconds.