Small business owners rejoice: the latest approach to faster, cheaper business apps encourages developers to kick up their feet and lie back on a cloud.
Roses are red
Violets are blue
Without big data
Your company is through
It might surprise you to know, that poem was written by a skilled (and charming!) data scientist. I’d introduce you to this analytics heartthrob, but they’ve already found their perfect match in a company that has them leveraging big data for powerful insights.
Note: This article is intended to inform our readers about the current data privacy and security challenges experienced by companies in the global marketplace. It is in no way intended to provide legal advice or to endorse a specific course of action. For advice on your specific situation, consult your legal counsel.
Ah, the good old days. Back in my day, the movies and music were better. Say! Even the big data was better.
There’s nothing quite like big data circa early 2018. Of course, that was before the General Data Protection Regulation (GDPR)—perhaps the most famous data privacy regulation ever—came into effect on May 25, 2018.
For a quick refresher: GDPR rewrote the rulebook for how businesses can use EU consumer data for things like analytics. GDPR has shunted responsibility for data privacy away from individual consumers and firmly to the business, bringing global attention to how businesses handle (or mishandle) the processing of personally identifiable information (PII).
But all this comes at a cost: GDPR’s red tape and costly fines have limited organizations’ ability to use consumer data sources and big data as freely as before. GDPR is a win for data privacy, but it also limits the potential of big data analytics—and with it, data-driven business solutions that drive innovative customer services, products, and experiences.
Is the golden age of big data over?
Do stories in your newsfeed look like this:
“Every robot has its day—and that day happens to be your last day at work”
“I went to the robot invasion and all I got was this lousy USB drive … oh yeah, and I got fired”
“AI Advice: Ask for the human’s job”
In our always ticking digital economy, kids grow up fast. Just this weekend—embarking down the same path as many entrepreneurial greats before her—my 4-year-old opened her very own lemonade stand.
And it’s with a heavy heart and the love only a father can have for his daughter that I must say: Darling, your business is in trouble. I have no choice but to give it a one-star review.
Just know it’s not your fault, and I can blame only myself. Let me try to explain.
When life gives you lemons, you buy security software … wait, what?
Now for a thought experiment: the alien abduction.
It’s a typical day at work. That is until a flying saucer—straight out of a science fiction novel—whizzes past. You’re suddenly immersed in a magnetizing blue light. Around you, the workplace and all its contents begin sliding upward. Suspended, in zero gravity, the room—and that includes you!—moves toward the floating disk.
As you get closer to the extraterrestrial craft, a green, bigheaded alien leans out of the cockpit. It motions to you. It’s trying to ask you something:
“Take me to your IT leader.” The alien says—or perhaps transmits telepathically. Regardless, it’s clear that this meeting won’t be for discussing faster-than-light travel or eating Reese’s Pieces.
How would your business respond to aliens?
What’s not to love? Small Business Saturday provides exactly what is written on the front packaging: a day dedicated to small business patronage. And good news, your small business is the honored host.
More than 100 million shoppers in the United States will spend an estimated $15 billion or more supporting local retailers on Small Business Saturday—if trends follow the results of previous years. Small Business Saturday should be an answer to ailing sales in small brick-and-mortar retailers, just as Black Friday has been to retail giants. But …
Have you ever told anyone at work to “trust their gut?” That was probably bad advice. You should have told them to trust their data and practice data-driven decision-making.
According to findings reported by the Business Application Research Center (BARC), 58 percent of companies base half or more of their regular business decisions on gut feel, intuition, or experience rather than on data and information.
Here’s a compliment sure to make any business blush: “I bet your database cleans up nice—what a great opportunity for data scrubbing!”
From my experience, this moment will resolve itself with either high fives or a puzzled look that says: “What is data scrubbing?”
I’m glad you asked: Data scrubbing, or cleansing, is the act of checking business data for inaccuracies, duplicates, and outdated and incomplete entries. Data scrubbing is the process of cleaning out all the things that make data dirty and unviable for use in business intelligence (BI) software and data analytics.
Has your business gone to a fiery inferno? Not yet? Let’s keep it that way. I’m about to conjure up advice on one business pain point you might be agonizing over: data quality problems.
Today’s companies are vying to become data-driven using business intelligence (BI) software to analyze data insights to make better decisions. According to Forbes Insights, 84 percent of CEOs are concerned about the quality of the data they’re basing their decisions on. When the lights dim on your data integrity, who knows what records or variables have been tampered with, duplicated, deleted, or forgotten about.
Bad data leads to bad decisions.