Generally speaking, there are two kinds of companies in the world: data rich and data poor. The richest of the data rich (Google, Facebook, Amazon, Apple, etc.) are easy to name. But you don't need to be at the top of this list to use data to create value. You need to have the tools in place to turn information (data) into action -- that's what the data rich do that the data poor and the data middle class do not.
Because the velocity of data is increasing and will always increase, the need for data literacy is increasing and will always increase. This does not mean that to be successful executive you have to become a data scientist -- quite the contrary. It means that in order to be a successful executive, you need to understand how data is turned into action, be familiar with the methods of data science and data scientific research, and be able to think strategically about how to use data to create value for your business. All other things being equal, there is a significant difference between being literate and being fluent.
Fake women, fake privacy, real hack – that's the way my eulogy for Ashley Madison's IPO would start. Fake women, because the ratio of female names to male names in the hacked database dump is skewed extremely male. Fake privacy, because everyone now has access to Ashley Madison's private database. Real hack, because the hackers have actually ruined people's lives.
Remember the receptionist on the 15th floor who used to take excellent phone messages on those adorable pink pre-printed message pads? Her job predeceased yours by a few short Internet years.
First and foremost, the transition from corporate executive to successful consultant has more to do with self-knowledge than subject matter expertise or skill. If you have been successful in business, you probably have the skills to become a successful consultant, but here are seven important things to think about.