TMI! The problem with too much data.
Marketplace Tech
Marketplace
4.5 • 1.3K Ratings
🗓️ 24 April 2023
⏱️ 7 minutes
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Summary
Making data-driven decisions has, seemingly, never been easier. We’ve got pulse surveys, performance analytics, reviews, anecdotes on social media — all just a click away. And yet … all these inputs aren’t really helping us make better decisions. That’s according to a new study from the software company Oracle, which surveyed workers and business leaders around the world. Marketplace’s Meghan McCarty Carino spoke with Seth Stephens-Davidowitz, a data scientist and author who partnered with Oracle for the study.
Transcript
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| 0:00.0 | Marketplace Morning Reports' new Skin in the Game series explores what we can learn about |
| 0:04.6 | money and careers from the $300 billion video game industry. Plus, here how an Oakland-based |
| 0:11.0 | program helps young people get the skills they need to break into this booming industry. |
| 0:15.9 | Listen to Skin in the Game and more from the Marketplace Morning Report wherever you get your |
| 0:20.7 | podcasts. |
| 0:23.2 | Mate there is such a thing as too much data. From American public media, this is Marketplace tech. |
| 0:30.2 | I'm Megan McCarty-Korino. |
| 0:41.6 | Making data-driven decisions has seemingly never been easier. We've got |
| 0:46.7 | pull surveys, performance analytics, reviews, anecdotes on social media, all just a click away. |
| 0:54.4 | And yet, all these inputs aren't really helping us make better decisions. |
| 0:59.6 | That's according to a new study from the software company Oracle, which surveyed workers |
| 1:04.5 | and business leaders around the world. Seth Stevens-Dividowitz is a data scientist and author |
| 1:10.2 | who partnered with Oracle for the study, which they titled The Decision Dilemma. |
| 1:15.6 | People feel like they're drowning in data, businesses feel like they're drowning in data, |
| 1:19.8 | and sometimes instead of helping them make decisions, they're feeling paralyzed by all this |
| 1:24.6 | information, all this data. How has our reliance on data in this context sort of mounted over time? |
| 1:32.8 | So the other thing we found in the survey is that most people, most business leaders, |
| 1:38.0 | believe in the power of data. The vast majority think that data could help them make better |
| 1:43.1 | decisions, so that's one of the reasons they're collecting so much data. They're looking at so much |
| 1:47.3 | data more and more in the past few years, but it feels like too much to many people to many |
| 1:53.4 | businesses. Yeah, tell me more about how this is affecting decision-making by individuals and |
| 2:01.9 | organizations. Well, a bunch of people on our survey say that it's leading to anxiety, |
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