More Date = More Data... NOT More Insights
Simplicity isn't having less; it's essence and efficiency
Simplicity isn't having less; it's essence and efficiency
More and more and more data....isn't that what we are generally told? the newest trend, always "on", never miss a thing.....like a hamster on Red Bull trapped in the never ending story.
But hey, let's wakey wakey a little and look at Why more data is not really more insights, more knowledge or more leverage.
My fundamental believe is the following:
More data = More noise = less insights = sub optimal outcomes
let me give you a few analogies:
๐๐ผ๐ผ๐ฑ: ๐ง๐ต๐ฒ ๐๐๐ณ๐ณ๐ฒ๐ ๐๐ป๐ฎ๐น๐ผ๐ด๐
Imagine walking into a buffet with an endless variety of dishes. Just because there's more food available doesn't mean you'll have a better dining experience. In fact, the overwhelming choices can lead to decision fatigue, and not all dishes are to your taste or of high quality.
The key to a satisfying meal isn't the quantity of food but selecting dishes that you genuinely enjoy and are of good quality.
Similarly, in data, having tons of data points isn't as useful as having the right, quality data that leads to actionable insights.
๐ฅ๐ฒ๐น๐ฎ๐๐ถ๐ผ๐ป๐๐ต๐ถ๐ฝ๐: ๐ง๐ต๐ฒ ๐ฆ๐ผ๐ฐ๐ถ๐ฎ๐น ๐๐ถ๐ฟ๐ฐ๐น๐ฒ ๐๐ป๐ฎ๐น๐ผ๐ด๐
Consider your social circle; having hundreds of acquaintances doesn't equate to meaningful relationships. It's the depth and quality of a few relationships that provide support, joy, and value to your life.
Having too many shallow connections can even be draining, diverting time and energy away from deepening bonds that truly matter.
In data, accumulating vast amounts of information without focusing on relevance and context can distract from gaining real, actionable insights.
๐๐ฎ๐ฟ๐ฑ๐ฒ๐ป๐ถ๐ป๐ด: ๐ง๐ต๐ฒ ๐ฃ๐น๐ฎ๐ป๐ ๐๐ฎ๐ฟ๐ฒ ๐๐ป๐ฎ๐น๐ผ๐ด๐ (PS: I hate gardening)
In gardening, giving a plant more water, sunlight, or fertilizer than it needs doesn't guarantee it will grow better. Each plant has specific needs, and overdoing it can be just as detrimental as neglecting it. The key is understanding what each plant needs and providing the right amount of resources.
This mirrors the data principle where collecting more data isn't as crucial as understanding what data is needed and how to analyze it effectively for insights.
Reading: The Book Collection Analogy
Owning a vast collection of books doesn't make one more knowledgeable or wiser. It's the books you actually read and understand that contribute to your knowledge.
Similarly, hoarding data without analyzing or understanding it doesn't yield insights. The focus should be on collecting relevant data and extracting meaningful information from it.
Fitness: The Exercise Equipment Analogy
Having access to every piece of exercise equipment doesn't ensure a better fitness level. It's the consistent use of a few, effective tools that suits your fitness goals and routine that makes a difference.
Likewise, amassing data without a strategy to analyze and apply it effectively won't lead to insightful outcomes.
On that note, I am off to the gym.
