In Defense of Little Data

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If you have a pulse and you're active in the business world you have, inevitably, heard of the incredible power of big data – how it can reliably predict outcomes, provide insight, solve problems and will soon rule the world. Big data has saturated business, and also sports, politics and even the US Olympic team uses big data to improve athlete performance.

Big data is game changing for anyone able to harness its awesome power.

But, what if you’re too small for big data? What if big data and its corresponding big price tag are out of reach for your business, department or project? Do you gamble on your instincts, go with your gut and give it your best guess?

I’m not doubting your experience, acumen or business instincts, but please don’t do this. Ever.

Too many variables affect your results, and decisions made without data analysis can have unexpected and significant costs.