What is the relationship between KPIS and Big data?

LINK : https://www.bernardmarr.com/default.asp?contentID=1790
Connecting the dots between big data and KPIs
The increasing datafication of our world has changed what we can measure, and how. What do I mean by datafication? I mean the huge volumes of data that we are generating every single day – every time we go online, every time we pay for something with a credit card, every time we touch in with an Oyster card on the London Underground, every time my seven-year-old asks Alexa to play their favourite song for the hundredth time that day…
This exponential increase in data means that companies have more options for measuring performance than ever before. They have more data at their disposal (and, importantly, more real-time data). And they have more options for analysing and reporting that data. As a result, there are many new types of indicators for tracking performance.
Big data has helped to overcome two major limitations of traditional KPIs: firstly, that too many KPIs are standard proxies (such as generic surveys) and, secondly, that many are lagging indicators, telling us what’s already happened. The value of proxy tools or lagging indicators in today’s fast-paced business world is increasingly limited.
Now, instead of using a standard survey to monitor staff engagement, you can monitor actual employee behaviour. While surveys are useful as a starting point or for benchmarking purposes, they have their weaknesses. For starters, people often lie on surveys – whether it’s because they’re wary of reprisals if they tell the truth, they feel they should tell the company what it wants to hear, or it’s simply not in the individual’s interests to tell the truth.
Big data technology means it’s possible to track actual behaviour. Or, to put it another way, we can understand what people really do, not what they say they do.

Comments

Post a Comment

Popular posts from this blog

How Big Data Can Boost Weather Forecasting

張岳庭 D0741017 Source:  https://www.wired.com/insights/2013/02/how-big-data-can-boost-weather-forecasting/ Considering the number of variables involved and the complex interactions between these variables, weather forecasting has always been extremely challenging. The significant increase in data collection and processing capabilities has greatly improved the ability of weather forecasters to pinpoint the time and severity of hurricanes, floods, snowstorms and other weather events. Globally, more and more evidence of climate change is prompting governments and scientists to take action to protect people and property from its effects. But to take effective measures, they need to know more about the weather-from everything that will happen tomorrow to what will happen next year. According to the professor of economics and finance , Alan Anderson, PhD , “Example of an application of big data to weather forecasting is IBM’s Deep Thunder. Unlike many weather forecasting systems...
Read more

How Big Data is Changing the Production Industry

Blog#4 : How Big Data is Changing the Production Industry Name : Aileen 蔣慧玲 Student ID : D0726917 Source :   https://www.productionhub.com/blog/post/how-big-data-is-changing-the-production-industry Information technology plays a major role in Hollywood. Producers have to use big data analytics to get the right consumers and communicate with them well. Big data technologies will help filmmakers figure out the best ways to share their ideas and deliver messages, develop movies and content that involve ethical and societal issues. Therefore, information that we can get from the help of big data can help filmmakers make key decisions. Big Data is Changing the Production Game Big data technology can help filmmakers to connect and engage with consumers more directly using social media, mobile devices and traditional advertising outlets. Using this technology, producers can develop promotions that reaches the right consumer at the right time. It is not enough just to mainta...
Read more

Big Data case study: 5 relevant examples from the airline industry

D0740712 Connie  吳霈晴 Website: https://blog.datumize.com/5-relevant-examples-of-a-big-data-case-study-from-the-airline-industry With the summer vacation coming, travel is the one that people love to do during vacation, especially long vacation, going abroad may be the first choice for many travelers. So this makes me think of what is the relationship between big data and airplanes? How will it apply on the airline industry? This article tells about the benefits of big data on airlines, which covers three main advantages. 1.      Smarter maintenance 2.      Safer flights 3.      Improve service The first one includes the fuel of airplane, by analyzing and predicting, the article takes some specific airplane company as an example, giving the real number and how much they save the cost. Second, safety. Like this kind of transportation has a higher risk to take, if have the big data’s help, th...
Read more