Big Data Experimentation: a Business Model for the 21st Century
December 17, 2013
The article Big Data Demands Nonstop Experimentation on Infoworld targets old school executives living in what the article sums up as a conservative dream world where experimenting with Big data is a radical time waster. The article suggests a shift in the fundamental approach to Big data from the “causal density” model to a continual and ideally randomized experimental model.
The article explains, quoting blogger Michael Walker:
“Under this approach, business model fine-tuning becomes a never-ending series of practical experiments. Data scientists evolve into an operational function, running their experiments 24-7 with the full support and encouragement of senior business executives… Any shift toward real-world experimentation requires the active support of the senior stakeholders — such as the chief marketing officer — whose business operations will be impacted. As Walker states: ”…Business and public policy leaders need to support and adequately fund experimentation by the data science and business analytics teams.”
This may just be the information cash-strapped, revenue-hungry firms need. No one said Big Data was easy or quick, but what is clear is that a commitment to experimentation is needed, lots of experimentation. The article cites Google and Facebook as 21st Century success stories already embracing this model, in fact founded on the idea of experimentation.
Chelsea Kerwin, December 17, 2013
Sponsored by ArnoldIT.com, developer of Augmentext
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