Raw Data Analytics Are Worthless Without Intuition, and Wisdom

It is amazing how business enterprise software today is able to give an abundance of facts and information to the executives which run these companies. The raw data analytics that are available to most modern corporations are absolutely unheard of, if you asked anybody 20 years ago, it would be considered science fiction. In fact, when Bill Gates wrote the book “Business at the Speed of Thought,” many people really didn’t get it and thought that he was a visionary, but pushing the limits of future realities.

Today, we see he was exactly right with where he thought IT was going, it’s here, all of it is here now and you can look at Oracle software, or the software for enterprise systems of SAP and you can see it in almost every major modern Corporation. Still, lots of data is worthless without Intuition and wisdom, it’s also worthless without action. Before retirement, I was the franchisor of a nationwide franchise chain, which I founded. We didn’t have the serious IT networks as many of the other larger franchisor’s with 1000+ outlets.

Nevertheless, we had lots of data, just like they had, which allowed us to compete on an even scale. However, it occurred to me after hiring some MBA students out of college to help out in my company that without the experience, observations, and background in business, all the data in the world didn’t do them much good in making business decisions. In fact, I could look at the data and see something totally different that they would’ve never considered, but that was because I built my company from scratch and understood every aspect of it, along with the industry, and all the markets we did business in.

Therefore, I would like you to please hold back your arrogance, and unearned ego when it comes to all your wonderful knowledge of statistics, raw data, and computerized analytics. The reality is you don’t know a hill of beans, unless you actually run the company and know what all that data really means to the consumer, the managers of your outlets, the employees of the company, and the future progression of your business as you try to attain greater profits, larger market share, and a strengthen brand name. Please consider all this.