There is much hype over big data and new analytical technologies, some of it justified, much of it not. In this article, we explore the possibilities and the limitations of technology, and discuss how it can practically improve your business strategy.
We believe man’s ability to think and formulate hypotheses is an art that is difficult for machines to replace. Analytics cannot yet do your strategizing for you. Nor can artificial intelligence (AI) and cognitive computing engage creatively and emotionally with employees and stakeholders. The human-computer symbiosis should be collaborative, with machines helping people work better and quicker – but talented humans are still needed at the heart of strategy formation and implementation. Get the balance between investing in humans and analytics wrong, and you are likely to have made an expensive mistake.