Acres of Diamonds

04. 09. 17 John Chapman

Russell Herman Conwell was an American Baptist Minister, Orator, Philanthropist, Lawyer and Writer. He gave a lecture titled ‘Acres of Diamonds’ which is based on a story he heard whilst travelling in the Middle East.

The story is of a farmer in Africa who had heard there were great riches to be made from Diamond Mining. Diamonds are very valuable, and the farmer dreamt of a being wealthy. He could lavish on himself and his family anything they wanted. All he needed to do was find some diamonds and his fortune is made. So the farmer sold his farm. For the next few years he travelled across Africa looking for diamonds. Yet he had no success. He was penniless, destitute and jumped into a river to drown.

Meanwhile the man who bought his farm was walking past a stream and saw a large shiny stone in the water. He picked it up and took it home. The stone was placed on the mantelpiece. One day a visitor to the farmer looked at this stone and explained it was a large diamond. He asked the farmer from whence it came, to which the reply was from a stream on his property. There are many other shiny stones in the water explained the farmer. This was the largest one he saw. The farm was on top of a large diamond deposit.

The moral of the story is that there are likely to be diamonds under your feet. We just need to look for them.

Today’s IT systems have been in place for many years. There are large data stores in place. SQL databases with millions of transaction lines waiting to be analysed. Multiple repositories across disparate domains and systems. Each one holding its own riches in information terms. What if we could mine this data? To extract out of it the nuggets and gems of understanding about our business; the unknown unknowns such as who our customers really are as opposed to who we think they are. The SQL databases could be the acres of diamonds in our own business.

TouchstoneBI has the tools to extract this information quickly and efficiently. This can be modelled graphically to provide visual representations, what-if analysis, shown against key performance indicators, delivered to the desktop or mobile, assisting in effective decision making that was not previously possible.

So if you are looking for your acres of diamonds, they are likely to be in your data stores. The riches are in the information waiting to be unearthed. TouchstoneBI has the tools to dig these out and refine them into valuable assets.

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John Chapman

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John Chapman