"Small Data: The Tiny Clues That Uncover Huge Trends" is a book by Martin Lindstrom, published in 2016. The book discusses the importance of collecting and analysing small data, or seemingly insignificant pieces of information, in order to gain insight and drive continuous improvement in business.
Lindstrom argues that traditional data analysis, which relies on large sets of data collected through surveys or other methods, often misses important trends and insights that can be gleaned from smaller, more specific pieces of information. He suggests that managers and organisations should focus on collecting and analysing small data in order to better understand their customers, employees, and markets.
To illustrate the power of small data, Lindstrom provides numerous examples from his own experience as a branding consultant and market researcher. For example, he describes how he used small data to help a company improve its customer service by analysing the content of customer complaints and feedback. By looking at the specific words and phrases used by customers, Lindstrom was able to identify common pain points and areas for improvement.
Another example Lindstrom cites is his work with a global hotel chain, where he used small data to understand the preferences and behaviors of hotel guests. By analysing the contents of hotel room minibars and examining how guests used the amenities provided in their rooms, Lindstrom was able to gain insights into what guests valued and how they preferred to relax while on vacation. This information was then used to make changes to the hotel experience, such as offering a wider selection of minibar items and providing more in-room entertainment options.
The book also discusses the importance of using small data to understand and connect with customers on a deeper level. Lindstrom argues that traditional market research methods, such as surveys and focus groups, often fail to capture the emotional and psychological factors that drive consumer behavior. By collecting and analysing small data, such as social media posts, customer reviews, and other forms of online communication, organisations can gain a more nuanced and accurate understanding of their customers' needs, desires, and motivations.
Lindstrom also emphasises the importance of using small data to foster innovation and creativity within organisations. He suggests that managers should encourage their employees to pay attention to small data and share their observations and insights with their colleagues. By fostering a culture of continuous learning and experimentation, organisations can harness the power of small data to identify new opportunities and drive innovation.
Conclusion
Overall, "Small Data" is a valuable resource for managers and other professionals looking to improve their organisations through data-driven decision making. It provides practical advice and real-world examples of how small data can be used to uncover valuable insights and drive continuous improvement. Lindstrom's examples demonstrate the power of paying attention to seemingly small or insignificant pieces of information, and how this can lead to significant improvements in business.
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