How much food do I order for the party tonight? This is one of those eternal and important questions which seldom has the right answer. It belongs to a philosophical set of questions such as:
a. What is the meaning of life?
b. Is there a God?
c. Why do we wear ties? (seriously)
Another critical question but of lesser importance, for Data companies and Chief Data Officers is – How much data should I collect?. This is where I like to use the ‘Pizza Rules’ for Data Asset planning. Most of us don’t realise that buying a single large pizza works out to be substantially cheaper (2x area per dollar), faster (cooking + delivery time) and better (only 1 box to manage) than buying 2 medium size pizzas. Similarly, when it comes to building data assets, running analytics, dash-boarding, predictive models or visualization – it makes sense to identify, collect and manage more than currently leveraged data. Hence, the systems, processes and technologies must be aligned to a reality, where more than required data is being processed. It is said about great parties (and war) – “Spectacular achievement is always preceded by unspectacular preparation”… this is also true for the Data Assets.
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