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7 Steps for Applying Big Data Patterns to Decision Making

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STEPS FOR APPLYING BIG DATA PATTERNS TO DECISION MAKING


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


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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.


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UNDERSTAND DATA ASSETS


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


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EXPLORE THE DATA


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


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DESIGN THE FUTURE


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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.


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DESIGN A DATA-DRIVEN BUSINESS MODEL


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4. DESIGN A DATA-DRIVEN BUSINESS MODEL If appropriate, design a business model to take advantage of the new data discovery.


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TRANSFORM BUSINESS PROCESSES FOR THE DATA ERA


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5. TRANSFORM BUSINESS PROCESSES FOR THE DATA ERA If appropriate, redesign existing business processes to capitalize on the new insights from Steps 1 and 2.


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DESIGN FOR GOVERNANCE AND SECURITY


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6. DESIGN FOR GOVERNANCE AND SECURITY Understand the impact of leveraging new insights and data assets, comprehending the implications of privacy and data usage.


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SHARE METRICS AND INCENTIVES


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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 decisionmaking or utilize new findings.


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For more on identifying patterns in data and applying patterns to decision making, check out BIG DATA REVOLUTION ROB THOMAS & PATRICK MCSHARRY


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