Nicolas Copernicus was a mathematician and astronomer who just before his death in 1543 launched his theory that the Sun was at the center of the universe, rather than the Earth. At the time, scientific theory was regarded about two notches above magic and witchcraft. It was his book, “On the Revolutions of Celestial Spheres" which propelled the emerging scientific revolution. Why was this theory so important? Did the farmer, fisherman and tailor really need to know this? Indeed every person’s way of life was affected as we have all learned over the past 5 centuries that through science we learn more about who we are, why and how we exist, and how we can improve the many aspects of life for ourselves and for generations to come. What does this have to do with “Business Intelligence and Analytics?” Everything. Today’s technology now allows for the collection, tagging and analysis of microscopic bits of data, simultaneously processing them to give us a different view of how and what really affects our business. It could be something simple like for each degree of temperature over 88 degrees, how much more iced coffee is sold at Dunkin’ Donuts vs Hot Coffee, or it could be something more complicated like, which are my top 3 busiest hours of the week (based on store traffic). People are creatures of habit. They are driven by their needs and in today’s Omni channel society our minds are constantly bombarded by a host of influencers telling you what you need. Our cell phones and mobile devices have become jukeboxes not just for advertisers but our entire social network with information and influencers. We are in the next phase of the “scientific revolution.” In ten years from now we will look back at this time and say “yes, this is when it began, this when rules and formulas changed.” The question is, are you ready to learn these new rules, and how these new methods of measuring will give you the insight to win over the competition? Or, is complacency just so comfortable that “playing it by ear” will have to suffice? Stay tuned to Pawnlink.org as the next entries will explore and define the types of analytics, who needs it and why. The Universe is changing once again, that’s a fact, not an assumption.
Competing with Analytics – Part I
Competing with Analytics – Part I
2014-07-29
Marc Cohen
User Rating: 5 ( 1 votes)
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Nicolas Copernicus was a mathematician and astronomer who just before his death in 1543 launched his theory that the Sun was at the center of the universe, rather than the Earth.
At the time, scientific theory was regarded about two notches above magic and witchcraft. It was his book, “On the Revolutions of Celestial Spheres” which propelled the emerging scientific revolution.
Why was this theory so important? Did the farmer, fisherman and tailor really need to know this?
Indeed every person’s way of life was affected as we have all learned over the past 5 centuries that through science we learn more about who we are, why and how we exist, and how we can improve the many aspects of life for ourselves and for generations to come.
What does this have to do with “Business Intelligence and Analytics?”
Everything.
Today’s technology now allows for the collection, tagging and analysis of microscopic bits of data, simultaneously processing them to give us a different view of how and what really affects our business. It could be something simple like for each degree of temperature over 88 degrees, how much more iced coffee is sold at Dunkin’ Donuts vs Hot Coffee, or it could be something more complicated like, which are my top 3 busiest hours of the week (based on store traffic).
People are creatures of habit. They are driven by their needs and in today’s Omni channel society our minds are constantly bombarded by a host of influencers telling you what you need. Our cell phones and mobile devices have become jukeboxes not just for advertisers but our entire social network with information and influencers.
We are in the next phase of the “scientific revolution.” In ten years from now we will look back at this time and say “yes, this is when it began, this when rules and formulas changed.”
The question is, are you ready to learn these new rules, and how these new methods of measuring will give you the insight to win over the competition? Or, is complacency just so comfortable that “playing it by ear” will have to suffice?
Stay tuned to Pawnlink.org as the next entries will explore and define the types of analytics, who needs it and why.
The Universe is changing once again, that’s a fact, not an assumption.
