Big data is being touted as precursor to next industrial revolution. It is Taylorism to the hilt or scientific management at its best. Informed decisions were always considered better than gut feel. But they depended on quality of information, which was limited by technological or our analytical power. Big data is integrating available hardware and software in such a way that real time quality information is available which helps in managing business processes on real time basis rather leaving it for postmortem. Second, such large churning of data helps in identifying real levers of driving a business. As a result, you are able to drive your business as a Ferrari rather than a Jugad. It wont be out of place to take a leaf out of an article written by Porter in 1986, appeared in HBR, suggesting operational efficiencies cannot alone sustain a business. Big data may answer very well the question how to do but what to do is still a domain of human insight. That component of management is still an art. So there always will be a space for Steve Jobs in all walks of life. The present write-up summarizes an article that appeared in McKinsey Quarterly. Additionally, it offers a list of quality articles on big data. Reading all of them was a treat.
Posted on: Sat, 29 Nov 2014 04:03:46 +0000