The failure of polls on the presidential election in the US shows that in order to get the right information, data must be collected and analyzed with scientific rigor, free from any bias caused by the personal interest of pollsters and analysts.
Friday, November 11, 2016
EDITORIAL
Only 1 out of the 20 main pollsters, newspapers and television stations in the United States who possessed all the tools needed to properly manage the demographic data and surveys, was right in indicating who the next president would be.
Why was there such a tremendous failure?The only explanation is that the quality of data collection and data management was severely affected by the agenda of each of these predictors, explained in a few cases by their political and philosophical basis, and others by the need to be politically correct.
Entrepreneurs today have more opportunities than ever to meet their information needs. The technological revolution has given birth to fantastic ways to use the vast amount of data available to refine management, both internally and externally.This is the concept of Big Data, that must be embraced and implemented, if you want to remain competitive.
What entrepreneurs can learn from what happened in the US elections is that the information used to make decisions, must come from sources that are not only highly specialized in Big Data, but also absolutely detached from any interest in that information.And within companies, only the owner is the person who is that condition.
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Does it make sense to keep doing surveys to evaluate, for example, the ranking of a brand, when all the real, honest, and unbiased information can be inferred from people's behavior on the Internet?
"... Traditionally, when teachers or business people needed data, they commissioned surveys.
Technology and tools for analyzing large volumes of information used by large corporations to make business decisions are also available to businessmen and small companies.
Finding the best location for a new sales point, finding the areas where potential customers move and analyzing their purchasing power and their behavior as consumers are just some of the things that can be done today with the help of new technologies.
When using data to make business decisions, companies must understand that having a lot of information is not the same as having real, verified and high quality information.
EDITORIAL
Every day more and more companies are using new methods of analyzing information to make their business decisions, but on the path towards change it is all too easy to make the mistake of believing that having a lot of information,real, is the same as having real, verified and high quality information.
The success of companies increasingly depends on their ability to integrate data analysis both for strategic and operational decisions.
Both the availability of data and the ability of technology to use it for analysis, have increased exponentially in recent years.More sophisticated algorithms have been developed and computational and storage power has steadily improved. The convergence of these trends is fueling rapid technological advances, aiding better business management.
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