In today’s modern age of information and data analysis, it seems we can never consume enough of it. We’re constantly being inundated with data and we often wrestle with business analytics to determine how we should run things. Companies can spend fortunes on gathering and interpreting this data.
Big data is the new buzzword and according to Google, it’s basically a term that refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions. Big data can be analyzed for insights that lead to better strategy with respect to business decisions.
Get Your Data
We have seen this trend explode recently in the network marketing industry. Your software vendor and application software should be able to provide you with this data in all its unfettered glory. If used properly and effectively, it can be a valued asset that can reap generous rewards.
However, we have often seen this data used in ways that can create self-imposed limitations and lead to what is called analysis paralysis. Wikipedia says that analysis paralysis is a state of over-analyzing or overthinking a situation so that a decision or action is never taken, in effect paralyzing the outcome.