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The Role of Data Analytics in Transforming Decision Making Processes
Part I
What should I do right now vs. what can I delay or hold off on until the priorities are taken care of?
When you use data to navigate in a new city or check the weather in your current location, you have applied value to that insight. This is proven by you taking the action of bringing out your phone or glancing at your smart watch. When your gaze lands on the weather app icons, you have placed some trust into the weather insights and can make a decision based on current and trustworthy information.
Out of curiosity, would you wait up to 30 seconds for weather data for the trip you are taking next week? Would you wait up to a minute… or five? What if you had to wait an entire day for the insights? There is a balance between time, availability, usefulness, and accessibility when it comes to data-driven decision making. If I have to fumble through a series of clicks on my phone to get the weather forecast, I might just revert to the news on TV or a newspaper. If neither of those are available, I will just take my umbrella anyway!
There’s a common thread across every level of an organization - that is, we all want to make the best choice for the business, the customer, and the team. In some cases (Public Sector), there is a life or death scenario that must be factored into every decision when it comes to IT. If someone’s life depends on it, would you install a secondary (backup) internet connection? Did you know that there is very little (if any) regulation on how counties are to prepare the IT environment in the interest of human life. In other words, the jail’s internet connection goes down and risk goes up. What if there were a backup, secondary ISP (internet service provider) providing access so that the doors can be opened - allowing medical response personnel access to a detainee who is having a seizure.
If we are to put this much effort into our technology to prevent the loss of life, we surely need to be able to trust the data. If an ambulance does not have the correct information on the patient and how to get to them, they could increase the risk of someone losing their life. The ambulance needs to be able to not only navigate efficiently to the scene, but also navigate to the hospital while providing life-saving care.
We don’t have time to get into it, but all of this makes me think of entropy, likelihood, and possibilities. The possibilities are endless and equally exciting. The power of data analytics has transformed our day-to-day lives and will continue to do so. We are in the midst of something big. Web3, blockchain, decentralized systems, IoT, and AI are all emerging technologies that will change our world.
Endless, huh?…. So where does one begin? What is the best course of action?