A Big Data Disconnect. Who Knew
August 2, 2016
I read “Advisors and Big Data: The Disconnect.” Stunned am I. Consultants not listening to their clients. Systems with severed communication channels to those to who their licensing bills. Unbelievable.
I learned:
But while many companies have big dough invested in this ongoing project, they still rely far too much on intuition and gut instinct instead of using their data to operate. This is often due to a fundamental disconnection between the actual needs of the business versus what the data analytics are designed to deliver.
The write up makes a number of statements which suggest there is some snake oil laced with ineptitude in the Big Data world; for example:
- Analytics enable. What if analytics enable poor decision making?
- Algorithms are not a “magic kit.” I thought algorithms were really smart.
- Bad data are bad. Really?
- Data are not insights. I thought data were chock full of insight.
- Moving big data from Point A to Point B is not a slam dunk. What about a three point shot?
If these points resonate with you, you are probably not getting with the Big Data program. I thought Big Data was a silver bullet and a magic potion blended in one tasty for fee meal. Stunned, I tell you. Stunned. Imagine. Disconnect advisors.
Stephen E Arnold, August 2, 2016
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