It is like an online blind-date.
With a superb personality-matching algorithm running through the profiles, it produces the matching percentage, of two profiles that may have a higher chance to head off as a couple. If the percentage is low, based on statistical info graphical result derived from the big data analytics (BDA) process, some poor souls would never have a chance to experience their first date.
In theory, any match with lower percentage may not be compatible and what are the chances of a high percentage match will be happily ever after? No mistakes or failure relationships. It objectively eliminates failures and promises success.
This is what BDA does – re-defining how we know what we claim to know (a Theory of Knowledge or an epistemology).
BDA provides reasons and rationalizations to investors and venture capitalists (VC). However, they are bounded by their empirical knowledge and evidence of what work and what doesn’t.
The catch is BDA may make investors and venture capital (VC) firms afraid of taking risks. They are becoming very conservative. Based on empirical evidence, their decisions are as good as their experience.
Almost in any pitching sessions, data like trends, number of followers, demographic of followers and market appetite, among others, derive from BDA have been point of references to investors or VCs to validate your ideas. Whether is commercially marketable, your business idea simply hang in a balance – considering the statistical conclusion from BDA.
On one hand, it is acceptable to be more cautious and mindful on the investment potential, taking into account worst case scenarios or undesirable outcomes.
On the other hand, BDA scares investors and entrepreneurs to be more innovative and adventurous. When the numbers do not add up, don’t waste your time to convince them otherwise.
Yes, that’s right. BDA may become an ‘assassin’ – killing your business ideas though.
For what it’s worth, back then, Bill Gates, the late Steve Jobs or Sir Richard Branson do not have a luxury of BDA to make who they are now. Gut feelings, persistent, ultimate focus and pure beliefs may them legends in today’s business world.
Repost with permission. Originally posted here.