Thursday, August 30, 2012

Finding the Right Tool to Unlock the Power of Data

Published: August 29, 2012 in Knowledge@Wharton
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In the last few decades, statisticians and computer scientists have produced a dazzling arsenal of extremely powerful tools to help managers translate data into business decisions.

Having access to a wide array of versatile solutions is not ordinarily considered a problem in the world of business. But the rise of "big data" has also brought along with it the explosion of mathematical models made possible by today's low-cost computing and storage platforms. Ironically, this poses a number of substantial challenges to managers trying to making sense of ever-growing quantities of information. 

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