In my “Improving Data Quality is Key” post last month, I mentioned that if you don’t improve your data quality, you can forget about the fancy stuffs such as machine learning and AI. Inc.com just published an article by Howard Tullman, Executive director, Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship, Illinois Institute of Technology on “Every Business is a Data Business”.
The article captures very well the essence of having quality data in every business, similar to what I preach about, albeit in a greater length and more detail. Howard Tullman highlighted that “you need to be collecting better information about your customers–so they can make your business better. This doesn’t require expensive technology, or A.I. or machine learning. It does require a plan”.
Essentially, you have to solve the foundation problem first before investing your money into sophisticated software to run all sorts of algorithms to provide insights for your company. Your insights will be as good as your input, i.e. data – garbage in, garbage out.
So I’m just going to reiterate the importance of having quality data. Do read the article and my post if you haven’t done so.