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Dark Data in Project Management (PMICV Webinar Series)
February 4, 2021 @ 12:00 pm - 1:30 pm EST
Dark Data in Project Management – Unlock the (un)known unknown
Digital transformation initiatives and the technology evolution towards big data, data analytics, and Artificial Intelligence has led to an increasing importance of data in the business world. Data is the new economic fuel for analytics engines, requiring therefore diligent processes to source and transform raw data into business value. With Data Analytics and AI entering the project management domain, significantly transforming the way we manage and deliver projects, project professionals are required to become more data-aware and data literate, to understand the value of data that could be decisive for the successful outcome of projects, which however often is hidden and not leveraged. An estimated 80% of data that is collected today by organizations is usually unused as it is considered of no benefit for business operations. In the era of big data, such information, known as dark data, is increasingly becoming a problem as it often holds valuable information that could be useful for decision-making in projects, for more accurate and more confident decisions.
In this presentation, Marcus Glowasz will provide insights on the nature of dark data, the different types of dark data, how it impacts project management, and steps to be taken by organizations and project professionals to uncover such hidden information in projects, leverage it for improved project outcomes, and this way to address the risk of a growing unknown in project management.