Decision on Data

Data keeps growing. There’s no shortage of data.

Some data is valuable than having no data at all. However, a lot of data doesn’t necessarily mean better decisions and outcomes.

It comes down to making decisions on the data that you have. Decision making skills play a critical role here.

How much data is needed to make a good decision on it?

What insights can we gather from the data we have?

How did we collect the data?

What’s the quality of the data?

These are some helpful questions to make decisions on data.

 

Getting through the data noise

An authentic brand story will help your company get through the data noise.

How much data noise is really out there?

Domo’s Data Never Sleeps 10.0 presents some numbers.

Some notes from Domo:

Over the last ten years, digital engagement through social media, streaming content, online purchasing, peer-to-peer payments and other activities has increased hundreds and even thousands of percentage points.

As of April 2022, the internet reaches 63% of the world’s population, representing roughly 5 billion. 

According to Statista, the total amount of data predicted to be created, captured, copied and consumed globally in 2022 is 97 zettabytes, a number projected to grow to 181 zettabytes by 2025.

There will be more data generated in the coming days, months, and years. How will your startup or corporation get through the data noise? Will your company keep spending more money on ads, social media marketing , PR and others? Or will you invest in a long term strategy such as identifying your authentic brand story and leveraging it?