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Big Data’s Management Revolution – Data-driven decisions tend to be better decisions.

Big data has the potential to revolutionize management.

Simply put, because of big data, managers can measure, and hence know, radically more about their businesses, and directly translate that knowledge into improved decision making and performance. Of course, companies such as Google and Amazon are already doing this. After all, we expect companies that were born digital to accomplish things that business executives could only dream of a generation ago. But in fact the use of big data has the potential to transform traditional businesses as well.

We’ve seen big data used in supply chain management to understand why a carmaker’s defect rates in the field suddenly increased, in customer service to continually scan and intervene in the health care practices of millions of people, in planning and forecasting to better anticipate online sales on the basis of a data set of product characteristics, and so on.

Here’s how two companies, both far from Silicon Valley upstarts, used new flows of information to radically improve performance.

by Erik Brynjolfsson and Andrew McAfee

Full Story: http://blogs.hbr.org/cs/2012/09/big_datas_management_revolutio.html

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