Why Blending Analytics and Gut-Feeling Benefits your Business

Why Blending Analytics and Gut-Feeling Benefits your Business

Why Blending Analytics and Gut-Feeling Benefits your Business

Understanding the impact of Big Data is not self-evident for many companies. Big Data offers endless possibilities and as such organizations are overwhelmed. Big Data requires different technologies, new IT systems, new processes and a different way of working. In addition, Big Data requires a different culture and changing your company culture is always hard. Especially when new technology is involved.

In order to be successful with big data, you need a culture that incorporates data-driven decision-making. That does not mean, however, that organizations should only focus on big data analytics and ignore gut-feeling. Gut-feeling, or intuitive synthesis, is an important aspect of decision-making and successful companies are capable of combining the two in what has become known as design thinking.

In the past decade, design thinking, also known as a human-centered approach to innovation, has become a popular practice at organizations from around the world to generate innovative and competitive strategies. Although the history of design thinking can be traced back to the 1960s, the adaptation of design thinking for business purposes followed in 1991 by the founder of IDEO, David Kelley. Specialized design thinking firms such as IDEO help organizations create new products and services using the design thinking methodology.

Read Also:
The hive mind: the need for humans in an AI and data world

The core of design thinking is to drive innovation, create human-centered products and services and help organizations deal with open and complex problems. Creativity is an important aspect of innovation and design thinking requires a multi-disciplinary team of people in order to stimulate this Creativity and develop radical new solutions. In order for creativity to flourish during a design thinking project, you need data, lots of data. Tim Brown, CEO of IDEO, describes design thinking as a thorough understanding of the needs and latent needs of (potential) customers through direct observation, prototyping and feedback loops. This begins with obtaining a holistic, 360-degrees view of the product, service and customers’ (latent) needs. The objective is to approach customers from multiple angles. Big Data can help, or even speed-up, to obtain this deep understanding of your customers, products and services.

 



Sentiment Analysis Symposium

27
Jun
2017
Sentiment Analysis Symposium

15% off with code 7WDATA

Read Also:
Big Data Governance: Harnessing the Horses
Read Also:
Big Data Is Revolutionizing The Way We Develop Life-Saving Medicine

Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

28
Jun
2017
Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

15% off with code 7WDATA

Read Also:
How to make digital transformation a reality

AI, Machine Learning and Sentiment Analysis Applied to Finance

28
Jun
2017
AI, Machine Learning and Sentiment Analysis Applied to Finance

15% off with code 7WDATA

Read Also:
Too Much Data, Too Little Results? How to Accelerate Your Company’s Big Data ROI

Real Business Intelligence

11
Jul
2017
Real Business Intelligence

25% off with code RBIYM01

Read Also:
The hive mind: the need for humans in an AI and data world

Advanced Analytics Forum

20
Sep
2017
Advanced Analytics Forum

15% off with code Discount15

Read Also:
Internet of Things: Opportunities for the pharma and health care industries

Leave a Reply

Your email address will not be published. Required fields are marked *