FOR APPLYING BIG DATA PATTERNS TO DECISION MAKING

STEPSFOR APPLYING BIG DATA PATTERNS TO DECISION MAKING

STEPS

The method for applying big data patterns to decision-making consists of seven steps, each step building on the one before.

Depending on your end goal, you may need to spend more time and energy on some of the steps than others, but it is important to consider each step in turn.

UNDERSTAND DATA ASSETS

Locate, catalog, and assess the potential of all relevant data assets. These assets could be inside or outside the organization.

1. UNDERSTAND DATA ASSETS

EXPLORE THE DATA

2. EXPLORE THE DATA

Explore the data assets discovered in Step 1, applying a rigorous methodology of searching for statistical significance.

DESIGN THE FUTURE

3. DESIGN THE FUTURE

Use the implications of the data exploration to either make better decisions, design a new business model, or redesign current business processes.

DESIGN A DATA-DRIVEN BUSINESS MODEL

If appropriate, design a business model to take advantage of the new data discovery.

4. DESIGN A DATA-DRIVEN BUSINESS MODEL

TRANSFORM BUSINESS PROCESSES FOR THE DATA ERA

If appropriate, redesign existing business processes to capitalize on the new insights from Steps 1 and 2.

5. TRANSFORM BUSINESS PROCESSES FOR THE DATA ERA

DESIGN FOR GOVERNANCE AND SECURITY

6. DESIGN FOR GOVERNANCE AND SECURITY

Understand the impact of leveraging new insights and data assets, comprehending the implications of privacy and data usage.

SHARE METRICS AND INCENTIVES

7. SHARE METRICS AND INCENTIVES

Develop a system to ensure that appropriate key performance indicators are measured and that stakeholders continue to leverage fact-based decision-making or utilize new findings.

For more on identifying patterns in data and applying patterns to decision making, check out

BIG DATA REVOLUTIONROB THOMAS & PATRICK MCSHARRY