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“Simplicity is the ultimate sophistication”~ Leonardo Da Vinci These words are wisdom, but wisdom is a virtue of few. The rest need to develop it. Tata Docomo recently launched an ad campaign asking people to “Keep It Simple, Silly,” which became an instant hit. Organizations have found that it is easier to sell simple ideas than “Data is what distinguishes the dilettante from the artist.” – George V. Higgins Yet, reliable data is so hard to find in the Indian business context, that very few companies operating in the country factor it into their decision-making; most are forced to rely more on gut feel and anecdotal evidence. Why is data so hard to All competitors have access to the similar data and information. But only a few of them are able to leverage it to ink success stories. While data constitutes fragments of information that are unconnected to each other or the environment, information is the knowledge build by putting several data points together. Intelligence is understanding the implication McKinsey has estimated that half the global population is unbanked. This poses a tremendous opportunity. Not a big surprise – this is fairly well known to many people. The last para of their report is interesting: “This is just a start. Updating and refining these analyses (and perhaps even refuting them) requires more detailed household and/or adult-level Practitioners of competitive intelligence (CI) in most developed markets are accustomed to applying analytical and statistical tools to in-depth information which are available in standard database formats and collected from reliable sources. However, India can overwhelm even the most astute CI practitioner, as many traditional methodologies don’t work in the Indian context. More… - published in |
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