Rich Data, Poor Data: What the Data Rich Do - That the Data Poor and the Data Middle Class Do Not! - Shelly Palmer
▻http://www.shellypalmer.com/2016/05/rich-data-poor-data-data-rich-data-poor-data-middle-class-not
Generally speaking, there are two kinds of companies in the world: data rich and data poor. The richest of the data rich are easy to name: Google, Facebook, Amazon, Apple. But you don’t need to be at the top of this list to use data to create value. You need to have the tools in place to turn information (data) into action. That’s what the data rich do that the data poor and the data middle class do not.
– The Data Rich Treat Data Like Cash
– Data Is More Powerful in the Presence of Other Data
– The data rich have data councils that meet regularly to evaluate and modify corporate data governance policies.
– Data rich companies have data science departments that are tasked with turning information (data) into action. These departments are built on three foundational skills: computer science, math and domain expertise.
– The data rich make their data actionable by using very sophisticated machine learning and AI algorithms.
– Data-driven thinking is the key to acting data rich.