May 26, 2016
In agriculture, a silo is a structure used for storing bulk materials, typically grain, woodchips, food products, etc. Imagine that you are a farm owner and you don’t know what crop or quantity of crop is stored in your silos or how long that crop has been stored. This could lead to an economic disaster for you as a farm owner! Imagine that the farm owner is the CEO of an organization and that the CEO’s crops are data. Just consider now that the CEO doesn’t know what type of data is in his silos, what is contained in that data, the quantity of the data, and what insights can be mined from that data. The CEO would be missing vital knowledge and insights that could help the business perform more efficiently, increase sales, allow for more effective targeting, and ultimately affect whether or not the business is successful or unsuccessful!