Big Data and Starfish…

Does looking at all the available data REALLY MATTER?  With the velocity of data and the constant deluge of new sources can you even make a dent? Can the cost of the journey be offset by the value of the destination?  starfish

My Dad used to tell me a story when I was younger.  A man is walking down a beach that is littered with beautiful starfish.  As the man came across the beached starfish he would pick them up and gently toss them back into the surf.  He continued on for quite a while when a man coming from the other direction stopped and asked him.  “Do you really think you can make a difference when there are so many beached starfish?” The man reflected for a minute, then looked down at the dying starfish in his hand.  He looked back up at the man who asked the question and said… It makes a big difference to this one.

While working for a CPG company as part of a key corporate project team, we encountered a HUGE stall point due to the format and quantity of all the data.  How would we work with it?  How could we add additional data?  How could we connect the data? By understanding the value of each “Starfish” we were able to chart a course that, IN FACT, made a difference. The result: millions in potential savings through improved spending models.