Throughout the last decade pretty much all capital market participants have been involved in digital transformation in some way, shape, or form.
The TechCrunch article below highlights the 180-degree shift in approach and makes the argument that “big data” has become less relevant than “fast data” for delivering actionable insights. “Now there is movement away from data mining and toward decision intelligence”.
Nowadays digital transformation is broken down into 2 parts: 1) data-aggregation-for-analysis and 2) analysis-for-action. The elements are correct, but in this order it’s a bottom-up approach that creates mountains upon mountains of “big” data that just serves to exacerbate the critical gap in capability.
This gap is that our current technology is not evolved enough to mine the mountains of data to generate insightful nuggets that can be acted upon.
As the article lays out, much better results are being obtained by running the established process backwards, starting with “what are the actions that I want to optimize” and using that to drive the data architecture your organization needs.
Link to the original article here.