The passing data train: enough talk, it’s time for action

The passing data train: enough talk, it’s time for action

30 November 2017

cothinking
Big Data

At the end of October, around 200 customers, professors, students, IT experts and other guests gathered in Ghent for our event, ‘Co-Thinking about the Future’, to consider the technology of the future. You will find a number of ideas and topics discussed during the event in this series of blogs.

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The passing data train: enough talk, it’s time for action

Once again, the cow is being left stood gaping at a passing high-speed train. This is how most Belgian companies are currently dealing with their data. Increasing digitisation means we’re collecting more and more data but, apart for a few notable exceptions, we’re still doing much too little with it. In the meantime, the data train is racing past as companies simply stare at it wide-eyed – amazed and fascinated, but scared to jump on. Why? Because the destination is still uncertain.

Why don’t we just get on with it?

There are several reasons why lots of companies aren’t getting on board. A lack of in-house knowledge is one of them; people don’t know what to do with all this data, or how they can use it to create added value. Others claim they don’t have enough data to be able perform really useful analyses. And some are anxious about setting up a project without knowing if it will produce the desired result. Not having any room for experimenting is another excuse that often crops us.

So there are lots of challenges getting in the way of us effectively turning data into gold. Wouldn’t it just be easier to simply set it all up and see how it goes? Definitely. But we strongly doubt this is the best option; the possibilities of a good data strategy are tremendous, after all.

Take the plunge

Just do it is someone else’s slogan, but it’s definitely the right attitude here. Take the plunge and experiment. All the challenges described above are relatively easy to resolve. How? Co-creation.

Innovation is co-creation

Do you not have the expertise you need in house to make the most of your data? Then call on someone who does have this experience. Do you not have enough data available? Then find out if another company has more data, and see if they’re prepared to set up a pilot project together. No budget for experimenting? Perhaps someone else would be interested in collaborating on a project with you and sharing the cost…

It’s time to take the first steps. Define an objective, put a team of people with a variety of skills together, and see what comes out. Do you get stuck? Then look for the right partners to help you out. People and companies are often more open to sharing information than you might think. It’s a question of knocking down the walls and creating a win-win situation.
 

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