I spoke on a panel last night on the subject 'data as the new black gold'. There are three challenges I think this metaphor poses to the data world.







First, that of crude oil. Data is everywhere in organisations, but too often left in it's crude form: gloopy and unusable. The oil industry had to work this out before it could be mainstream. It had to refine oil to a form that works for consumers day-to-day and it had to make it available to consumers in ways that fitted in to their daily life. It's trivial to stop by a petrol station and pick up some oil in a format you can instantly make use of. Data doesn't yet work the same way: it's rare to find an organisation that appropriately refines it and then makes it available to it's people in a way they can access and make use of as part of their day-to-day work.


Second, I think we need to demand higher 'miles per gallon' from our data. Often we gather fantastic raw data, capable of being a really powerful part of decision making ... but then business leaders don't ask interesting questions of it. They don't demand smart analysis and challenge the data to offer insight. It's like demanding that cars offer higher miles per gallon from the oil they are burning.


Finally, I think we need to embrace hybrid technology. In cars that's about oil being only part of the story for how the car gets powered. In data it's about saying that data is only part of the story for how organisations get powered. We need to be honest and bold about the role of skills & judgement alongside data in powering organisations. Too many people believe / pretend that data alone can power organisations to greatness. Everything I've seen tells me that data is necessary but not sufficient: smart people to use the data alongside their expertise is ALWAYS required. The data world should be honest about this and build data and systems around that truth. I've always found that has a much greater impact :)
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