jason atchley
The ability to collect, access, and analyze massive amounts of data has reached the point where no single entity can do all the work; great data collaboration is a necessity for success at any level of business. According to article, “Andreas Weigend, who directs Stanford University’s Social Data Lab, is a longtime proponent of the societal benefits that come with the socialization of data. If the last century was marked by the ability to observe the interactions of physical matter—think of technologies like x-ray and radar — this century, he says, is going to be defined by the ability to observe people through the data they create, share and consume.”
Data Collaboration is Necessary for Business Success
The ability to collect, access, and analyze massive amounts of data has reached the point where no single entity can do all the work; great data collaboration is a necessity for success at any level of business. According to article, “Andreas Weigend, who directs Stanford University’s Social Data Lab, is a longtime proponent of the societal benefits that come with the socialization of data. If the last century was marked by the ability to observe the interactions of physical matter—think of technologies like x-ray and radar — this century, he says, is going to be defined by the ability to observe people through the data they create, share and consume.”
Such a socialization of data and the collaboration that comes with it has many sides though, “On one side, businesses now require smart machines to blend vast amounts of data together for analysis. Two-thirds of organizations are already trying to blend together five to 15 sources of data for analysis, according to a recent Harvard Business Review study (PDF), and the majority who use manual analysis with Excel docs realize it’s not a viable solution anymore.
On the flip side, once that complex data blending has been done, there are significant benefits to the wisdom of the crowd, aka data analysis collaboration. Various experts in different disciplines can review and weigh in, external partners can collaborate on shared data insights, and new answers can be asked in a groupthink manner with iterations within the data analysis.”
- Published: 3 days ago on December 29, 2015
- By: Charles Roe
- Last Modified: December 29, 2015 @ 8:10 am
- Filed Under: Big Data News, Big Data News, Articles, & Education, Data Daily | Data News,Data Education, Education Resources For Use & Management of Data
- Tagged With: data collaboration, socialization of data
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