We Can Do What Data Can’t
Data analytics has woven itself deeply into the fabric of various organizations ranging from sports franchises, political consultancies, and medical research institutions to marketing agencies. Data-driven strategies are at the heart of companies who are trying to compete with peers and striving to innovate. Data-driven strategies lead towards the minimization of costs, possibilities of failure and can be deemed as the organization’s way of peeking into the minds of its existing and potential consumers.
Take sports, for example. Data analysis has unlocked ideas that were previously locked up in spreadsheets, never to be seen again. It has revolutionized the way people think about sport — for managers, players and competitors in particular. Anecdotes and intuitive narrations have been replaced by a more substantial, evidence-based approach. Data is extracted from wearable devices attached to players’ jerseys providing real-time statistics on each player, such as acceleration, arm bend, body movement and numerous others indicators. Collected data is then processed into resourceful information that can help trainers, physicians, nutritionists plan for improved training and conditioning in order to extract the best out of an athlete.
However, in many sports organizations and businesses, actual data-driven strategies do not have the perfect success rate. While the strategies do provide companies with answers to the questions they ask, the accuracy or inaccuracy of those answers is not guaranteed. Logic tells you that these strategies are fool-proof. If you are collecting countless data points, crunched over weeks and months, in preparation for a decision, you should be able to make that judgment with confidence, that satisfies your original objective.
But that is not always the case. All data collection and analysis methods have limitations. Data alone is insufficient and minds need to be engaged in the process. Data analysis, in contrast may excel at measuring the quantity of social interactions, but not the quality as, unlike our minds, it struggles with the social. Therefore, genuine data-driven decisions may be safe; however, they can never produce exceptional results.
We, at Amplify Solutions, whenever faced with complex challenges, break details and elements down into simplified parts that often go unnoticed and are sometimes hidden. Amplify engages with the market by becoming a part of it. This not only allows us to collect data with assured quality and usefulness, but helps us to better understand, at depth the target audiences and formulate strategies that cater to their needs. Data assists us in the decision-making process, it does not steer it.
Muhammad Mustafa Moeen, Marketing Strategist Associate.
