Economy of Social - Social Media Tips, Marketing and Business

If he isn't one, he better be. With the proliferation of Big Data for better insights and decision making within an organization, it is very important for startups , small businesses and big businesses to understand analytics for better decision making.

You heard it right! Nelson Mandela managed to successfully campaign against apartheid not because he was equipped with Big Data . He simply told a strong and powerful story.

I am NOT a BIG Proponent of BIG data for business use especially in identifying consumer behavior. It has a lot flaws that are being neglected in the present big data narrative. The interesting part that most of us neglect is "How is it useful?" It tells us what people are doing. Inferring why they are doing is up to the skill of the researcher and that is where most people fail. To give a short example it was only a few economists including the now famous Nouriel Roubini who predicted the 2008 recession. While all economists had access to the same data, most of them failed. There were cases where the predictions were almost divergent.