Speculation is a poor form of investment. Data-driven decision making is a better alternative. However for some reasons Companies usually make a half-hearted effort in capturing the full value of their data. Sometimes they lack the leadership vision, sometimes the internal capabilities, sometimes they don’t know how to invest in systems that really generate value. Machine and Deep learning, Big Data, Artificial Intelligence, often misused terms, seem to be everywhere, their applications are growing in leaps and bounds. Data and information management play an increasingly crucial role in any strategic decision and the competition is Darwinistically raising the bar. Leaders can’t afford to be the last in the pool and need to be prepared for the upcoming revolutions by starting making better decisions on their systems today.
This chapter purveys concrete ideas to make the most out of these precious intangible assets. It delivers a simplified, non-technical, overview about how data should be handled and used.
By reading this chapter you will understand the basic concepts related to Data Warehouses, Cubes, Lakes and visualize the big picture when choosing the right Systems, have a say in analytical versus sample testing, grasp the core concepts of modularity and finally be able to discern among Business Intelligence options.