"Information overload is both a puzzle for individuals and a huge challenge for companies," said Steve Lohr of The New York Times. Like everyone else, corporations are swimming (when not drowned) in the waves of data: the most sophisticated computer tracking shipments, sales, suppliers, customers, e-mails, and Web traffic observation of social networks.
According to some estimates, the volume of corporate data doubling every 1.2 years ... "Yet the data explosion is also a huge opportunity." Because information is becoming "the main asset, the raw material for new products and services, such decisions." At the time of the information economy, they become the competitive advantage of companies.
But the data they generate a productivity gain? Yes, says a study by Erik Brynjolfsson, an economist at the Sloan School of Management and Productivity Group Manager at Digital Business Centre on digital Massachusetts Institute of Technology and author of Wired for Innovation (Connected to innovation, how technology Information reshaping the economy), Lorin Hitt, professor at the Wharton School of the University of Pennsylvania, and Kim Heekyung student at MIT.
According to these researchers, who studied 179 large U.S. companies that have adopted models of decisions driven by data, productivity would be 5 to 6% higher than other companies. A difference that could not be explained by other factors, such as investment in technology, say researchers ...
In the study, "Decision driven by data" characteristic of companies that not only collect data but also also used to make decisions, create a new product or develop a service, rather than referring to the experience and intuition of its management. "However, a difference of 5% of output and productivity is significant enough to distinguish between winners and losers in most industries," said Brynjolfsson.
"Companies whose decisions are guided by data analysis are now the harbinger of a fundamental trend in the way managers will be asked to make decisions. The conclusion that companies that rely heavily on analysis of data might be better than others is not new. Google, whose success is based on data mining is the most shining example.
That was the about the latest book by Thomas H. Davenport, professor of information technology and management at Babson College, Jeanne G. Harris and Robert Morison Analytics at Work: Smarter Decisions, Better Results (The analytical work: better decisions, better results which follows analytics, new strategic tool).
But according to Brynjolfsson "this study is the first quantitative evidence of the anecdotes we hear" ... And this should be just beginning as the tools of data analysis will become more democratic, says the author. The productivity gains of technology occurs only when people adopt new skills to manage and new ways of working, "said Steve Lohr.
The electric motor for example, introduced in 1880 and took 40 years to produce productivity gains: while their use is spreading and that firms reorganize work according ... In 1987, 10 years after the computer revolution Personal economist Robert Solow (Wikipedia) rightly pointed that the computer had not yet shown its impact in the productivity statistics.
It was not until 1995 that the productivity of the U.S. economy began to climb through computers until 2004. There is always a lag in productivity gains in the absorption of technology, said Robert J. Gordon, an economist at Northwestern University. "It's never pure technology that makes the difference, but a reorganization of things - including how the work is done." Since 2004, U.S.
productivity has slowed again. It decreases when the innovation based on new core technologies exhausted, "says Robert Gordon. The steam engine and railroads fueled the first industrial revolution, the second was driven by electricity and the combustion engine. The internet is regarded as the third industrial revolution - but it was much shorter than the previous two.
"I think we see this trace that shows we are still in the Internet revolution." Meanwhile, the software industry is doing the bet that the decision built on the data is the future. IBM, Oracle, SAP, Microsoft have collectively spent more than $ 25 billion in acquisitions of companies specializing in the field.
"The biggest change that companies face is the explosion of data," says David Grossman, a financial analyst with Stifel Nicolaus. "The best business is now helping clients analyze all this data." 
According to some estimates, the volume of corporate data doubling every 1.2 years ... "Yet the data explosion is also a huge opportunity." Because information is becoming "the main asset, the raw material for new products and services, such decisions." At the time of the information economy, they become the competitive advantage of companies.
But the data they generate a productivity gain? Yes, says a study by Erik Brynjolfsson, an economist at the Sloan School of Management and Productivity Group Manager at Digital Business Centre on digital Massachusetts Institute of Technology and author of Wired for Innovation (Connected to innovation, how technology Information reshaping the economy), Lorin Hitt, professor at the Wharton School of the University of Pennsylvania, and Kim Heekyung student at MIT.
According to these researchers, who studied 179 large U.S. companies that have adopted models of decisions driven by data, productivity would be 5 to 6% higher than other companies. A difference that could not be explained by other factors, such as investment in technology, say researchers ...
In the study, "Decision driven by data" characteristic of companies that not only collect data but also also used to make decisions, create a new product or develop a service, rather than referring to the experience and intuition of its management. "However, a difference of 5% of output and productivity is significant enough to distinguish between winners and losers in most industries," said Brynjolfsson.
"Companies whose decisions are guided by data analysis are now the harbinger of a fundamental trend in the way managers will be asked to make decisions. The conclusion that companies that rely heavily on analysis of data might be better than others is not new. Google, whose success is based on data mining is the most shining example.
That was the about the latest book by Thomas H. Davenport, professor of information technology and management at Babson College, Jeanne G. Harris and Robert Morison Analytics at Work: Smarter Decisions, Better Results (The analytical work: better decisions, better results which follows analytics, new strategic tool).
But according to Brynjolfsson "this study is the first quantitative evidence of the anecdotes we hear" ... And this should be just beginning as the tools of data analysis will become more democratic, says the author. The productivity gains of technology occurs only when people adopt new skills to manage and new ways of working, "said Steve Lohr.
The electric motor for example, introduced in 1880 and took 40 years to produce productivity gains: while their use is spreading and that firms reorganize work according ... In 1987, 10 years after the computer revolution Personal economist Robert Solow (Wikipedia) rightly pointed that the computer had not yet shown its impact in the productivity statistics.
It was not until 1995 that the productivity of the U.S. economy began to climb through computers until 2004. There is always a lag in productivity gains in the absorption of technology, said Robert J. Gordon, an economist at Northwestern University. "It's never pure technology that makes the difference, but a reorganization of things - including how the work is done." Since 2004, U.S.
productivity has slowed again. It decreases when the innovation based on new core technologies exhausted, "says Robert Gordon. The steam engine and railroads fueled the first industrial revolution, the second was driven by electricity and the combustion engine. The internet is regarded as the third industrial revolution - but it was much shorter than the previous two.
"I think we see this trace that shows we are still in the Internet revolution." Meanwhile, the software industry is doing the bet that the decision built on the data is the future. IBM, Oracle, SAP, Microsoft have collectively spent more than $ 25 billion in acquisitions of companies specializing in the field.
"The biggest change that companies face is the explosion of data," says David Grossman, a financial analyst with Stifel Nicolaus. "The best business is now helping clients analyze all this data."
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