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Business Consulting For The 21st Century Via A Holistic & Intelligent Approach

Even data has its limits

Consumed => “Using Enterprise Data to Fuel New Business Ideas” by Joab Jackson on CIO.

=> Value add (i.e., left a comment)…

Interesting idea. However, it should be mentioned that it too has its limits. That is, “Credit card transactions offer a better glimpse into the value of an eatery” isn’t entirely true.

The main problem is the “universe” they’re starting with. It’s not all possible customers, it’s Citi card holders. It’s not every transaction of an establishment, it’s the one of those who hold and use Citi bank cards. There can certainly be bias in both of these subsets. Does this make in intell unusable? Probably not. None the less, in terms of authenticity it would have been helpful if the article had at least one disclaimer.

I would imagine the most useful resource for The Guests (i.e., consumers) would be one that combines both methods – subjective and objective.

BTW, I’m not expecting perfection. I’m just noting that even good clean and accurate data has its limits. So before making data based decision be certain to understand the caveats.

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