The business of running businesses is getting a wake-up call. From flattened hierarchies to an explosion of information, Big Data is reinforcing some old business assumptions and upending others. If you’ve got a business degree, and you haven’t figured out how to apply Big Data to administration, you’re vulnerable. In this opening session, Strata chair Alistair Croll sets the stage for JumpStart with an overview of business in a data-driven economy.
The abundance of data made it easy to collect and analyze data from online user behavior and discussions. Although it is encouraging to see businesses using such data and making data-driven decisions, we often see decisions based on flawed analyses, or simply using data that measure the wrong things. Panos will illustrate cases, where simple reading of available data points into one conclusion, while a deeper study uncovers a different truth. Examples will be drawn from online reputation systems, online reviews, crowdsourcing, and other case studies.
19th September 2011