PU Big Data Analytics and the Path Discussion
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This discussion is based on the article “Big Data, Analytics and the Path from Insight to Value” by Hopkins, LaValle, Lesser, et al. from MIT-Sloan Management Review. This article can be found in the Purdue Global Library. Make sure to read this article before starting the discussion.
Hopkins, M. S., LaValle, S., Lesser, E., Shockley, R., & Kruschwitz, N. (2011). Big data, analytics and the path from insights to value. MITSloan Management Review, 52(2), 21–32.
This week, you will look at a survey on how leading organizations are using statistics and you will compare the findings to your experience with respect to your own organization.
- Most companies that are evolving tend to use intuition rather than analytics in their decisions. Looking at the 11 categories listed in the first chart (p. 23) titled “Analytics Trumps Intuition,” select three and comment on which side your organization is on (clearly label as “Analytics” or “Intuition”). For each of these categories, give an example in which the decision makers use intuition or analytics.
- Looking at the 11 categories listed in the chart on page 25 titled “Impediments to Becoming More Data Driven,” select three obstacles that you think are preventing a focus on analytics in your company. For each, explain the issue. For example, if you selected “concerns with data,” you would describe what those concerns are. How does this obstacle manifest itself and impact you in your work? Finally, make recommendations to overcome the obstacle you identified.
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