4 Simple Truths Third Nature's Mark Madsen Taught Me

Have you ever gone to a bar where they specialize in mixology, or a brewery or a wine bar, with more options than you could have ever dreamed of? You’ve been to a bar, so you walk in confidently. You walk up to the counter, get the bartender’s attention and ask for that IPA you’ve been wanting all day. And then the conversation goes a little something like this:

Bartender: “What kind would you like?”

You: “Whatever is on tap.”

The bartender gives a sideways grin, “We have *insert a ridiculous amount*, what would you like?”

STOP!

You stare like a deer in headlights as they gesture toward the taps. When did beer get so complicated? Why are there so many different options? What ever happened to having a limited amount on tap, to make it easier for you to decide?

That’s kind of like the Big Data space. It is constantly crowded by information about what the best option is, how to manage it, etc. Sometimes you just want someone to tell you plain and simply what the keys are to understanding and leveraging your data. Well, that’s what Mark Madsen of Third Nature did for me, and let me tell you something, they’re all true.
 

1. Everything around you is Data, Everything Becomes Data

Pictures, Color, Text, Audio, it is all data, and can all transmit insight. Whether a link is a certain color can affect whether someone will click it or not, and in turn can actively change how effective a campaign is or how sales are effected. It is important to utilize everything around you to influence aspects of your campaigns and initiatives. Mark Madsen, goes into detail on how things should be recorded, and how everything is data, even if it doesn’t seem like it is.

2. Data Architecture and Data Modeling… What?

They sound like they are the same thing, so let’s just say they are. Except they aren’t, and that’s no way to think. Data architecture is pretty complicated but Mark Madsen makes it simple and explains why it is different than data modeling. For one, architecture is more of production and collection to distribution and consumption. Data architecture is about positioning data to work for your benefit.  

3. Business Intelligence and Data Science Are Different… I Didn’t Know That Either

Business Intelligence is all about asking questions, getting answers... wash, rinse, repeat. It is a constant stream of counting the data, looking at the data, and getting answers to questions we know in advance.

Data Science has no repeatability. It requires specific algorithms which all require their own way of treating the data. It’s almost like BI has gray area and Data Science is binary. So, the repeatability has to be in storing the data so that it can be used for different techniques that a number of people can use.

4. Organization is your best friend

Structure, Form, and Format - these 3 things should be your best friend when it comes to data. In this video, Mark Madsen goes into detail about data’s form and structure, and how the bottom line is that they simply need to be mapped. Use cases dictate where and how data is used. He discusses how to approach the question of ‘How do I go from here to there’ or ‘What’s the sequence of events that leads to this particular outcome.” These questions can’t be answered in relational databases.

Keep yourself informed, and ahead of the game so that you aren’t caught in the headlights.

Not sure how to stay informed?  Check out these tips and tricks in order to get  the upper hand in your next big data and analytics discussion.