As the manager of your company, you probably know the significance of data to your business. You rely on it when making decisions and have hired a data scientist to take advantage of it. As a data-driven business, you’d think that you’ve perfected everything, right?
Well, take a step back for a minute and check out the possible mistakes that might put your business in jeopardy:
- You believe that your data is complete. It doesn’t matter if your company is huge because your data doesn’t really record all of your customer’s actions. Keep in mind that even the NSA and Google don’t have a complete picture of what their clients are doing in the real world. Analytics can’t fully read people’s minds, well not yet, that is. The key here is to retrieve more data that you can use, and to avoid being contented with what you currently have.
- You assume that your data is correct. Data is messy and anyone who has worked with it knows that. Data scientists understand that data cleaning makes up 80 percent of the work, while complaining sums up the remaining 20 percent. This is why some of the numbers that you depend on when making decisions aren’t actually precise. Although, it’s essential to remember that your data isn’t totally useless. Just don’t rely on data that seems too good to be true for it probably isn’t.
Don’t be too confident with your business because something can always go wrong. Always stay watchful eye when it comes to your business systems, especially data.