14
Nov

Philips Making Sense of Chaos

Aligned in a parallel universe, this week we were delighted to see Philips bringing SenseMaking and CoCreation to the forefront of their point of view on the Big Data wave in a new just published white paper entitled “Making Sense of the Chaos, From Data Mining to Data Meaning”

Across every industry, we are seeing more and more large organizations recognizing the power of Visual SenseMaking and CoCreated ChangeMaking as the so-called Transformation Economy, or Social Business Economy takes hold.

We would highly recommend reading this Philips paper. Here are a few highlights:

The data world is still very much in its infancy. The debate about exactly what it is, where it is going, and how everyone will get there has just begun.”

Data is the new natural resource. Media pundits, scientists, and futurists the world over are hailing the information gathered by connected devices as more important to this century than oil was to the 20th century. Just as crude can be used to make anything from plastics to petrol, so data has the potential to fuel global economies. By bringing us potentially limitless information about ourselves, our communities, and our world, data promises to transform the way we live and work.”

“But as the analogy (which is now well known in the data world) implies, it needs to be refined to give it meaning and value. Raw data on its own is nothing but a senseless bunch of numbers, letters, or words. And as anyone who has tried to read through spreadsheets of thousands of figures will know, it can be tiring and confusing. For consumers and companies lacking the know-how to interpret that data, this can become a source of anxiety too, as they struggle to keep up with the latest changes in the world.”

“But the biggest revenue streams will not come purely from technical solutions. Instead, the key to making dollars out of data lies in finding the insights among the chaos and white noise by moving from data mining to data meaning. Companies which manage to turn complex data into seemingly simple services and platforms that make sense to people — improving their relationships, health, happiness, and connection to the world — will create strong bonds and enduring connections to their customers.”

“Designing these complex propositions requires a co-creative mindset.”

See more here:

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