Steve Jobs built Apple on instincts which are now being replaced by Big Data analytics. Here’s how

Big Data is a buzzword among entrepreneurs nowadays. Despite industry or company size, it manages to squeeze into each corner and crevice.

Be that as it may, data isn't all that matters; what is most prominent about human beings is correctly what the algorithms and silicon chips don't reveal. There is a vital role for people, with every shortcomings, misperceptions and mistakes, since these attributes walk as an inseparable unit with human creativity, instinct, and virtuoso. Take late Steve Jobs for instance, who broadly depended on his instinct as opposed to market research and data analysis.

They say that knowledge is power. Whoever "they" are that administered this fine wisdom were more precise than they presumably could have ever envisioned. With every passing year, technology, and our capacity to gather massive amounts of data is rapidly advancing. These progressions are spurning immense outlook changes in numerous enterprises globally. Data is knowledge, and that knowledge is inconceivably powerful, be it for social and financial analysts, governments or business proprietors.

Leaders need to impart some of their limelight to statisticians and data analysts on the grounds that these will depend on relationships without preconceived ideas or notions.

The Economist Intelligence Unit studied more than 600 business leaders, over the globe and industry sectors about the use of Big Data in their organizations. The research confirms a developing hunger for data and data-driven decisions and the individuals who bridle these accurately remain on the ball. The report gives insight on their use of Big Data now and in the future, and highlights the advantages seen and the specific challenges Big Data has on basic leadership for business leaders.

In any event, businesses need to ask themselves this: "Why implement a Big Data strategy?'', and survey the conceivable advantages regarding their plans and objectives.

This all raises numerous questions. Will the age of big data eliminate most or all uncertainty from business decisions? Will it fuel the next gold rush for talent? Will analytics, and the supply of analytics-fuelled managers, so seriously lag "big data" leading to confusion and bad decisions? Or is this simply the most recent management cult? How, will this influence education for management? What do you think?