For any business to strategically grow, using predictive or insights-based business decisions is key, and data and its analytics play a crucial role. Data analytics also helps businesses glean insights from the immense amount of data they collect in order to track whether they are going in the right direction or act as an early indication to course correct to get back on track.
Picture credit: iStock
Here are nine must-read words of wisdom from data analytics experts to motivate you to utilize data efficiently and make data-driven and informed business decisions.
- “There were 5 exabytes of information created between the dawn of civilization through 2003, but that much information is now created every 2 days.” - Eric Schmidt, former executive chairman, Google
- “The key to good decision making is evaluating the available information – the data – and combining it with your own estimates of pluses and minuses. As an economist, I do this every day.” - Emily Oster, economics professor, Brown University
- “Information is the oil of the 21st century, and analytics is the combustion engine.” - Peter Sondergaard, senior vice president, Gartner
- “With data collection, ‘the sooner the better’ is always the best answer.” - Marissa Mayer, co-founder, Sunshine, former Yahoo! president and CEO
- “We’re entering a new world in which data may be more important than software.” - Tim O’Reilly, CEO, O’Reilly Media
- “The core advantage of data is that it tells you something about the world that you didn’t know before.” - Hilary Mason, data scientist and founder, Fast Forward Labs
- ”Data are just summaries of thousands of stories - tell a few of those stories to help make the data meaningful”- Chip and Dan Heath, authors, Made to Stick, and Switch
- ”Everything is going to be connected to cloud and data. All of this will be mediated by software.” - Satya Nadella, CEO, Microsoft
- “The goal is to turn data into information and information into insight.” - Carly Fiorina, Former CEO, Hewlett Packard
Grow with Data and Analytics
Data and analysis are nothing new; the technologies and tools used for analyzing data have shifted to a new paradigm. Every business can boost its profits by analyzing different trends and patterns gathered from data. In these tough times, only data and analytics can help a company sustain and grow if put to proper use.
How Nisum Can Help
For data and analytics leaders who maximize the potential from data, Nisum’s Insights and Analytics business is a flexible and holistic partner who provides clients accelerated competitive edge by delivering smarter insights at scale. To learn more about our services, contact us.