FAILURE IS SUCCESS IF WE LEARN FROM IT

Do you know the reasons behind Nokia’s failure? Though Nokia was the world’s best leader in cell-phone industry, what was the reason of missing a huge market change? Not a single data point from millions which they had was unable to save Nokia from this failure. Though they overcome Motorola, why they remain so firm on the fact of not changing their rigid model of hardware to soft and delicate touchscreen model? So many questions and multiple technical resolutions and business failure case studies can be performed on Nokia’s failure Story. But do you know, there is a lady named Tricia Wang who informed Nokia about this big bang market change which was about to happen in the society.

Tricia Wang is a tech-ethnographer. Ethnographer is a person who does detail observation of people in their natural environment. Tricia was formerly a tech-ethnographer with Nokia early in 2000.She is the first lady who informed Nokia that companies over belief on quantitative data may cause huge downfall to company. To achieve this outcome she spent days and nights with common man of china. She did actually what they were doing in the society and identified the occurrence of big change in the society which was about to change the cell phone market. She observed that even a poorest man in china was willing to carry his own smartphone. When she informed Nokia about the same Nokia didn’t convinced and said they have huge data of data points and are not getting any evidence of  this trend changing emotion. They stood so firm on stand of their rigid and tough hardware that failed to match the speed of other android using companies.

Nokia failed to predict future and take wise decisions. Every human being on this earth is so curious about their future. Future is scary, but yes. we all need guidance to take informed decisions. In ancient Egypt there was an oracle. An oracle is a person or agency considered to provide wise and insightful counsellor prophetic predictions or precognition. These predictions can guide person to be safe and successful in the future.

We do have an oracle today; The name of the oracle is Big Data. Many companies are investing in a Big Data but are not able to use it to get more informed decisions. Still companies are facing a need of ethnographers to understand the information between data patterns, and if ignoring the trend are facing a huge market and business loss same as Nokia.

According to Tricia Wang still companies need ethnographers to study and understand sociocultural needs and design technological solutions .According to her only Thick Data can help Big Data in this decision making process?

Skillville View point:

Companies are investing in Big Data but failing to use this Big Data. Nokia failed in 2000 but an avalanche of unstructured data started from 2010.It was the year when number of smartphone users grown drastically. This unstructured data contains images, videos, voice and even text. Technologies like Natural Language Processing are understanding and even presenting human emotions. Machine learning algorithms are designing recommendation systems with predictive analysis and helping products fantastically to rock the market.

The only thing which is needed is,”The person who can identify the data patterns and dictate the meaning between the texts, rows, columns, images and videos.”

So are you all ready to help companies to take wise decisions? Are you skilled enough to enter into this data driven world?

For more insights stay tuned and don’t forget to visit www.skillville.in.

  1. https://thefailurestory.com/why-nokia-failed-the-business-failure-story/
  2. https://bit.ly/383kgrB
  3. https://www.ted.com/talks/tricia_wang_the_human_insights_missing_from_big_data/transcript?language=en
  4. https://bit.ly/2ThMsS5
  5. https://www.shutterstock.com/search/prediction
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