The potential of big data still largely remains untapped. While analysts and software platforms are finding ways to transform troves of data into usable bits, organizations should also remember that big data still has its limitations.
At the same time industries are uncovering what big data can do, it is equally, if not more, important to understand what it can't do, according to a CIO report.
The following are three mistaken assumptions of the usability of big data, according to the report.
1. Big data can't predict the future. While analysts and software can look at data and try to extract trends, data can't provide predictions because data is an object of the past, according to the report. "Instead of trying to predict the future, use big data to optimize and enhance what's currently true," suggests the report. "Look at something that's happening now and constructively improve upon the outcomes for the current event. Use the data to find the right questions to ask. Don't try to use big data as a crystal ball."
2. Big data can't replace company or personal values. The role of a CIO or an executive is to take the data and reconcile it against company values, according to the report. Data is quantitative, so it is not a replacement for qualitative measures. Even if data indicates a certain course of action would be the most financially profitable for an organization, one must make sure that decision still falls in line with company and personal values.
3. Big data can't solve everything. One shortcoming of big data is its inability to quantify individual's behavior, according to the report, which says, "it's impossible to apply math to a single individual." Instead, research can only observe trends of behaviors applying to a whole group of people with similar characteristics.
The article's third point calls to mind recent reports of healthcare providers accessing and using consumer data to identify high-risk patients, predict patient behavior and intervene in their health behavior patterns to prevent illnesses or complications. While providers' thought is to keep people healthy and out of the hospital, it begs the question of whether this type of intervention is worth it.
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