Some analysts aim to substitute data for judgment in business decisions. Certainly, large quantities of data, from online and offline sources, along with powerful analytic tools, can greatly improve the information available for effective decisions.
We have plenty of data, but our sophisticated tools won’t eliminate uncertainty. Markets are increasingly volatile; the competitive landscape evolves rapidly; customers leave; new markets appear; new technologies cannibalize old ones.
In these situations, insights from data are not enough. The intuition and judgment of experienced executives, sales managers, and market analysts are more important, not less. You need tools that let you combine the most informative descriptive and predictive analytics with the expert judgment of your best people.