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Data is just like your senses: only interesting when attached to a brain. Key take-aways: - Data - as such - is meaningless. It’s an eye seeing something. A contextless observation. - Therefore, KPI dashboards are just meaningless data on one screen. - The value of Big Data lies in the patterns and relations it holds. - The problem is: there is a huge amount of patterns to be discovered. - As a consequence a lot of processes could be enriched with data. - The key is not to start with the data, but to start from the process you wish to enrich. - You will only find answer in data when you’re asking specific questions.
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Data: your sixth sense.
“A man who dares to waste one hour of time has not discovered the value of life.”
~ Charles Darwin
This quote by Charles Darwin suits the start-up life. We’re trying to find a scalable & repeatable businessmodel before our money, hence our time, runs out.
People inside Darwin need to know very clearly what the impact is of financial investments on our runway.
321DAys
The amount of days Darwin will survive, if no extra clients are signed and no unforeseen costs are reported.
If someone considers an investment, he can calculate the amount of Darwin days this investment will cost.
The calculator fits the mission of Darwin Analytics: more insights with less metrics. Smart investments with only one metric.
The tree from our logo is a great metaphor to describe how we see big data.
observation
At Darwin Analytics, data from tools like Google Analytics and Facebook Insights is just the beginning. It’s an eye seeing something. No more, no less.
KPI dashboards are full of observations.
observatie
interpretation
An observation without context is meaningless. Only by combining large amounts of observations, we can detect meaningful patterns and relations.
observation
interpretation
action
Darwin translates these relations and patterns to suggested marketing actions: Facebook likes drive sales, so try to increase your Facebook likes.
observation
interpretation
action
By measuring the effect of your actions, we’re also able to interpret the effect of your actions. This creates a feedback loop, which gives the ability to evaluate our own advice.
observation interpretation action
Using these steps in this specific order will not help you use big data better. In fact: starting from the huge amount of observations will just confuse your more. There are just too much possibilities, which all take a lot of time to explore.
observation interpretation action
By starting from the action you which to enrich with data, the process gets a lot easier. Action: “people need to make smart investment decisions”; interpretations: “they need to know the impact an investment has on our runway”; observation: “by putting the data from our business plan in Google docs, we can calculate the runway left”
Thank you.
@anthonybosschem
darwinanalytics.com
Big data is just like your senses: only interesting when attached to a brain. You will only find answers in data when you’re asking specific questions.
Darwin is doing exactly that: building a marketers’ brain. Contact me if you’re interested.
