In the modern world, we are
inundated with a flood of data and information. Traditional editing systems designed
to help us sort through this clutter--like newspapers--are endangered and may not
survive. But the increased flow of information makes it more important than
ever that we learn how to convert the myriad data streams that surround us into
useful knowledge and insights we can act on. I would even go so far as to say
that we are seeking wisdom out of all
those facts and numbers.
How can we accomplish this? The
wise use of data depends on our ability to link it to real life, to real people
and their experiences, to human transactions and interactions. History is
littered with examples of companies that went awry because they did not
understand the context and realities associated with the data they were
supposedly analyzing. In other cases, leaders did not "ask deeply" enough. They
knew what, how much, and where their customers were buying, but they didn't ask
the right questions to ascertain why
their customers bought what they did or what those people were really looking
for. Often, what we sell is not what the customer is buying (something Peter
Drucker points out in Innovation and
Entrepreneurship).
In order to understand customer
behavior, we must first understand human behavior--we
must be able to relate the numbers on a spreadsheet to human motivations and
what's really going on in the marketplace. This usually necessitates that we
broaden our thinking and explore less conventional ways of gathering and
processing information. In working with my students at the University of Texas
at Austin, I often find that I need to teach them how to learn. They're
intelligent and excel in traditional classroom settings, but they significantly
underestimate the importance of diverse learning methods and of integrating various
types of knowledge (you can read more about this in the post "How We Learn" from my own
blog, Hoover's World).
Often, the answers we seek are
right under our noses, but we go right by them in our rush to be organized,
objective, and "scientific." Objectivity and science are important, of course,
but we've gone too far in that direction. Ultimately, acquiring meaningful knowledge
involves focusing on the human side of what we do, being broad-minded and
curious, and looking in unexpected places. It is about having a fundamentally "liberal
arts" approach, regardless of what we majored in. Everyone has access to data,
but the ability to aggregate and synthesize those facts to derive new patterns,
insights, and ideas is what separates the true innovators from the rest of the
pack.
I will be talking about these
concepts in more detail next month when I keynote at APQC's
2010 knowledge management conference. I hope to see you all there so that
we can explore different modes of thinking and learning together.
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Gary
Hoover is an author, consultant, and entrepreneur-in-residence at the Herb
Kelleher Center for Entrepreneurship at the McCombs School of Business at the
University of Texas in Austin. A lifelong entrepreneur and innovator,
Hoover's business accomplishments include creating the pioneering book
superstore BOOKSTOP, which was acquired by of Barnes & Noble for $41.5
million, and beginning the company that became Hoover's, the world's largest
Internet-based provider of information about enterprises.
Hoover will be among the keynote speakers at APQC's 2010 knowledge management conference, Driving Business Performance: The New Face of Collaboration. You can learn more about the conference by clicking here.
I agree with your point of view "Everyone has access to data, but the ability to aggregate and synthesize those facts to derive new patterns, insights, and ideas is what separates the true innovators from the rest of the pack." The onus is now on us to find solutions and mechanisms to actually pull out these patterns and insights from the mountains of data: information optimization. It's about getting relevant, quality information at the right time. Great read!
Great points. Sometimes we just need to examine human psychology and behavior. Everyone acts for a reason, u just need to tap into it. And that involves psychology. -AznHisoka of Snubbr