- Opinion & Analysis
- Read Time: 10 min
These days, lots of people in business are talking about “big data.” But how do the potential insights from big data differ from what managers generate from traditional analytics?
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IBM SecondSight is being used at Wimbledon to track how players move on the court. Measuring and tracking balls and players in any dimension with real time analytics, its goal is to add a new dimension to understanding the science of tennis.
One of the stars at the annual MIT Sloan Sports Analytics Conference was Kirk Goldsberry, who has applied his knowledge of geography to the ecosystem, or “court space,” of the basketball court. The event drew 2,200 people to Boston earlier this month.
The capabilities of computers are now improving so quickly that concepts can move from the realm of science fiction into everyday life in just a few years, rather than a lifetime. Rapid advances in information technology — computer hardware, software and networks — are yielding applications that can do anything from answering game show questions to driving cars. But to gain true leverage from these ever-improving technologies, companies need new processes and business models.
In this second joint MIT Sloan Management Review and IBM Institute for Business Value study, we see a growing divide between those companies that, on one side, see the value of business analytics and are transforming themselves to take advantage of these newfound opportunities, and those, on the other, that have yet to embrace them.
Financial Times journalist Tim Harford and author of “Adapt: Why Success Always Starts With Failure” argues that companies that have a God complex look for smart people (what he calls “little Gods”) to solve complex problems — when what they should really be doing is establishing systematic processes of trial and error.
Almost all executives want more and faster information, and almost all companies are racing to provide it. What many of them overlook, though, is that the real aim should be not faster information but faster decision making — and those aren’t the same things.
How the smartest organizations are embedding analytics to transform information into insight and then action. Findings and recommendations from the first annual New Intelligent Enterprise Global Executive study.
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