The process for using data to solve your problem

Big Data is a buzzword we hear every now and then. Yet, we don’t know what it means and how it helps us in any way. The most useful feature of Big Data is generating insights about your business and customer and leverage it in decision making process. It can be said that it can provide solutions to any unanswered questions.

Here are the steps of using data to answer unsolved questions.

1. Leave all your assumptions aside: Before using this process, you have clear out all your assumptions about your business from your mind. If you can not leave it out, you are likely to make biased decisions in the process.
2. Set Objective: It’s important that you set the objective of why you are conducting this process. This objective will guide you throughout the process as to where you are heading and where you should go.
3. Collect  Data: It is first step of this process as without data, we can not figure out what unanswered questions we have about our business.
4. Problem Statement: Now it is time to know what problem do you have. Without knowing it, we won’t be able to take efficient measures.
5. Again collect the data: Now collect the data that is only relevant to your problems and see if there are any changes to the data that was collected before.
6. Analyze: Now you use different tools to figure specific informations that will help us make a decision.
7. It is an iterative process: Do the activities a couple of times to solve the problem according to your resources and customers’ need.
8. Information needs to presented in efficient way: Create charts, graphs, pies etc. to easily find gaps and odd trends.
9. Set bars to measure: You have to set standards with which you can measure the information you generated. It will help you see trends that are normal and abnormal.
10. Continue this process to make data driven business decisions.

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