Present day digital search is based on asking the right question, feeding the specific keyword to get a list of possible clues.
What if we do not know what ALL to ask ?
Do we have ALL that we need to make intelligent decisions every single moment of every single day ?
Let’s consider the following real-life cases, name changed for obvious reasons.
Mr. Murthy is planning a multi-city business tour in the US. Reaching New York, he will move onto Virginia, St.Louis and end with SFO. He is looking forward to an active week, frequent flying and most-importantly closing deals which has been in the pipeline for a while.
Few hours before reaching New York a sudden blizzard forces American Airlines to cancel all ongoing flights. Hotels are overwhelmed, baggages are inevitably delayed and Murthy being a diabetic patient is stressed out on work delays, business costs, safety, health, missing medicines and upsetting food habits.
He is not alone in lamenting the economic effect of a snowstorm and wishing he had checked the weather before traveling.
Chris Christopher, a macroeconomist at the data-analytics firm IHS Global Insight, first estimated that Jonas’s economic impact would be between $350 million and $850 million —a number that accounts for the cost of not doing business as well as hourly workers' lost wages, among other things. On Monday, after seeing the storm’s impact (particularly on the Jersey Shore), he revised that up to between $500 million and $1 billion
Mr.Bansal runs a logistics company for the last 3 years. He has recently expanded to delivering to the North East of India having mostly covered South and Central India so far. A huge consignment of industrial parts sets its way to Guwahati. A statewide Bengal strike and a damaging flood situation in Assam upsets the delivery by two full weeks. One of the trucks had a minor accident damaging few boxes and angry customers have slammed huge bills owing to delayed and damaged delivery.
Operational efficiency, workforce protection, risk assessment and risk mitigation are regular worries of any global organisations.
Even on a local scale, a political rally can harm a business or delay individual work in more than one ways. So why we should not choose to assume or hope to remain lucky. Speaking of our Mr. Bansal, here is some quick stats that might guide him to do better next time.
The referred scenarios are far more than just one-time occurrence. Similar situations has troubled us multiple times directly or indirectly in multiple ways.
So, what might be the root cause for not being able to make your business or personal decisions well thoughtfully ?
Is there a hidden pattern of cause-and-effect than can be broken down, forensicated and analysed to help drive informed, intelligent decisions ?
Can a centralised solution be built for predicting uncertainties, reducing risks, taming unforeseen business spends and ultimately protecting lives
At times the cost of not-knowing what you-should-know is fatal.
We are continuously asking questions but getting very little advice
63000+ questions on Trip Advisor on Travel Safety
83000+ questions on Trip Advisor on Weather
1,81000+ questions on Trip Advisor on Travel Adapters/Jet Lag/ Network/ Currency/ Vaccines/ ATM/etc
So, why is true “advice” difficult ?
Aren’t we thinking enough ?
Where is the information that provides us guided advice ?
What is this Dark Unstructured Data ?
Dark data is operational data that is not being used. Consulting and market research company Gartner Inc. describes dark data as "information assets that organizations collect, process and store in the course of their regular business activity, but generally fail to use for other purposes."
The Global Data volume is supposed to reach 45k Exabytes by 2020, 80% of which are trapped in formats non-processable by traditional machines. The cost of ignoring which shoots up to few trillions in revenue.
Why exactly this form of data stands largely ignored ?
The reason being the “analysis” is difficult both technically and tactically demanding multi-domain exposure in correlating non-seemingly-alike data sources like say “weather”, “altitude”, “disease-pattern”, “population” and predicting the risk factors of a certain health-outbreak in a certain time and place.
At Woocation, we have been working to solve this problem and it has been a very exciting and difficult journey so far.
Predicting the global pulse on a space-time-person format by breaking down incomprehensible chunks of information into specific, personalised insights serving the exact purpose at hand is a problem we love burning our midnight lamps on.
So, imagine if our Mr. Murthy and Mr.Bansal knew what they are about to face and had taken active precautions for it, or delayed the journey, more than one person would have stood to gain.
The next digital disruption is to let the information find you rather than you finding it
The above is easier said than done and requires an overarching view of real-time and historical data is formulating predictions and alerts and applying them on individual profiles.
So next time, if you are a pregnant mom searching for details, you should see different insights compared to what our Mr.Murthy might find.
Think about it, why waste time on information that is NOT relevant TO you ? The choice is pretty easy
So, the “Threat” or the “Opportunity” that lies beneath is highly dependent on who is looking for it, and the beauty of the process is discovering your own individualistic insights.
We live in a diverse world, with 380000+ cities, 6000+ languages, 60+ different cuisines …. a one size can never fit all.
Let’s keep exploring and celebrating individuality and how the power of data can help us proactively lead better lives.
Would love to hear your thoughts.