“It is both staggering and exciting to imagine how data and analytic capabilities will transform entire industries.”
– Ariel Dora Stern
As promising as big data analytics sound, there’s still a huge gap between a company’s expectations with their data and the reality. In the article Companies love big data but lack the strategy to use it effectively, Harvard Business School shared some insights that they teach to executives:
When such behavior becomes part of an organization's culture, it gives rise to collective blindness to unethical ways, regressive thinking that ignores the future demands of your business and a propensity to ignore truth especially if it requires taking a hard stance.
Without the environment that encourages fresh perspectives, constructive conflict with a desire to learn new information, and a clear process for making decisions, it's easy to succumb to groupthink where herd mentality drives decisions instead of utilizing the collective power of group intelligence.