"The new economy defies compartmentalized measurement."
It's amazing to see even till today, the measuring or metrics are as difficult as ever to get a handle on, as Grove made this comment years ago.
Andy Grove was sometimes underestimated as far as his ability to see where things were going. This is one of the many insights into the nature of the digital age that he saw far ahead of its time.
It's not that he simply saw that measuring would be difficult if not impossible, it's knowing the reasons why which set Grove apart from many other business leaders. It was also understanding that it was going to be a long-term problem that was important as well.
Today everybody is still attempting to figure out how to measure in the new digital world. Data can swing wildly between different purveyors of information. It's happening to this day.
What this implies, is business leaders more than ever have to be on top of their industry. We can't simply assume data are accurate any longer. Not because research is more sloppy than in the past, but because the points are moving on such a continuous basis, that what was true even a week ago can change dramatically.
It's more important than ever to work from our core purpose and focus, and use data in a way that enhances our decisions rather than guide them.
I think data are of more use for confirmation today than they are to make orginal decisions.
Does that mean we can only guess at what to do? Not really. But I do think the new realities are forcing the more niche and fragmented world we now work in. Niche markets are far less reliant on data than general or mass markets are. Those attempting to operate in the way they did in mass markets are going to continue to have difficult times ahead, as how things have worked in the past no longer operate or work in the same way.
That's the point that Grove was making on the new economy and the difficulties in measuring things in the future. That future is now here, and those truths are more evident than ever.
Other Andy Grove Resources:
Andy Grove's Rational Exuberance
The Digital Age . . . driven by the passion of Intel's Andrew Grove
The History and Influence of Andy Grove
Andy Grove enters new post-Intel role as activist capitalist
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