Avoiding the Phantom Dot
There are people who invent things. They can dream, conceive and create things that others have not been able to do so. For everyone else, we just need to learn to ‘connect the dots’ to be equally effective. It’s easier said than done, given a tendency for connecting phantom dots.
In the last decade, we have had a significant jump in automation, computation and machine processing capabilities to handle exponential growth in data volumes but still organisations are struggling with a simple question,
‘where do we even start with analytics?’
Our typical reactions to this challenge has been identifying potential use cases or art of possibilities like ‘you could try doing this or this may give you some benefits’. We are really trying to take a punt with our perceived notion of what a real client problem is, a phantom dot, based on what is already in place. While this sounds tactical and a starting point for a client, but they don’t necessarily bring the right value to their organization if not sufficiently vetted for ROI.
With the advent of IOT, businesses are evaluating modern technologies and APIs like AR, VR, emotion, object and face recognition in delivering value to customers. Would a refrigerator that orders milk or groceries on low stock really take off? Which part of a business problem of a consumer does it solve? Is that a phantom dot?