Name: The human insights missing from big data
Uploaded: 2017-07-19T15:02:04Z
Duration: 16 min 2 s
Description: Why do so many companies make bad decisions, even with access to unprecedented amounts of data? With stories from Nokia to Netflix to the oracles of ancient Greece, Tricia Wang demystifies big data and identifies its pitfalls, suggesting that we focus instead on "thick data" -- precious, unquantifiable insights from actual people -- to make the right business decisions and thrive in the unknown.

Tricia Wang: The human insights missing from big data

The human insights missing from big data

Why do so many companies make bad decisions, even with access to unprecedented amounts of data? With stories from Nokia to Netflix to the oracles of ancient Greece, Tricia Wang demystifies big data and identifies its pitfalls, suggesting that we focus instead on "thick data" -- precious, unquantifiable insights from actual people -- to make the right business decisions and thrive in the unknown.

Big data promises clear answers, yet over 73 percent of projects fail to deliver profits or breakthroughs. When Nokia ignored small but powerful human stories about smartphone demand, it missed a turning point and lost its lead. Even the ancient oracles needed interpreters to transform trance-like visions into actionable advice. True understanding comes from blending large-scale patterns with the deep meaning found in lived experience.