Impotence from Knowledge

"I never learned anything while I was talking." --Larry King

Data insights refer to the deep understanding gained from analyzing information on a specific issue. These insights go beyond surface-level observations and help organizations make better decisions based on evidence rather than relying solely on intuition.

Raw data is collected directly from the source and typically requires transformation (data integration) to become business-ready information. The goal of analytics is to answer specific questions, discover new insights, and make data-driven decisions. Insights occur when an analyst or business user discovers a pattern or relationship in data that was previously unknown.

Practically every retail Big Data and analytics case study over the past decade explicitly referenced Tesco as "best practice." With the notable exception of Amazon, no global chain was thought to have demonstrably keener data-driven insight into customer loyalty and behavior.

Tesco was transformed into the market leader in the UK—with more than 30pc market share—by being able to respond to the demands of its customers.

Tesco’s decline presents a clear and unambiguous warning that analytics capabilities cannot ward off the competitive advantage of lower prices and a simpler shopping experience.

Data insights empower organizations to make informed decisions by going beyond raw data and traditional analytics.

There’s nothing new or unusual in a one-time business strength turning into an organizational weakness or an industrial irrelevance. But Big Data, predictive analytics, and customer insight aren’t a substitute for business competitiveness.

Sometimes we all have to go back to the fundamentals...........

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