Business Intelligence transformed the way we do business, but there is still unleashed potential within it. We are analyzing only a part of our data, not all of it. The insights we get are limited and in consequence, so are our decisions. This is mostly because of Dark Data and how hard it is to analyze. And also because of human bias that doesn’t exactly allows us to see outside the box, so to speak. Now, imagine if you could get insights on all of your data. Your use of BI would be much more meaningful and your decisions would be insight-driven. In order to get there, we must take a couple of things into account.
Written by Dan Radak. http://it.toolbox.com/blogs/hosting-facts/can-dark-data-become-a-part-of-companies-bi-efforts-73577
A few years ago, people from Gartner coined the term dark data to denote something all business intelligence experts have had experience with – vast amounts of data that are saved and stored without anyone even considering utilizing them. IBM has since come forward with a mind-boggling piece of statistic, which is that “about 90 percent of data generated by most sensors and A-to-D conversions on the market never gets utilised”.
We can all agree that this is a staggering percentage and that this kind of waste would probably not be tolerated in any other field. So, is dark data destined for an eternity in the shadows or is there a chance it becomes an integral part of companies’ BI efforts?
If you are familiar with data or business intelligence, which I’m guessing you are, you’ve probably followed the evolution of data. Today we have Smart Data helping us improve our business practices and make better decisions, but let’s not forget the guy nobody invited to the party but showed up nonetheless: Dark Data. Enterprises have been collecting, if not hoarding, data for years. Who can blame them? We all have a little Mr. FOMO inside of us (Fear of Missing Out).