Interview between Ali Riaz and Sid Probstein (Attivo), by Michael S. Hopkins
Companies have been trained to think about data all wrong, say Attivio’s Ali Riaz and Sid Probstein. “Analytics don't have to be based on super-precise data,” they say. “The report doesn't have to be perfect. It needs to capture the behaviour, not the totality of it."
This is not off topic for Digital Footprints as the same ideals are present. What is the least data you need to get the result?
The interview is worth reading in full, couple of key points:
- Proposition 1: Your company collects data. You want to act on it. First, though, you really, really want to make sure that data are accurate. So you focus on getting it right. Better to wait on a decision until you have the absolutely correct information than act based on partial information.
- The stifling downside of the quest for perfect data. The problem with focusing on getting the numbers too right is that most companies sacrifice speed for accuracy.
- “eventually consistent” is a concept every company should take to heart, and how to deal with the need for speed
- Make sure you understand the provenance of data.
Personal comment: The issue is the more data I give you the better, more confident and more risk you will take based on the historical data (even it is rubbish). More data does not improve decisions, only increases your confidence that you are right; irrespective of what is about to happen…..you cannot predict the future which has a dependence on people with any certainty
Therefore the question is; what is the minimum data you need to make a prediction, determine influence, provide insight, determine risk, provide a recommendation or have confidence that I am who I say I am (or am I a dog)?