Data is not yet Available

When data is not yet available, the first job is to work out what is required and whether it can be obtained. This will need discussion from a team of people based on the business need and the resources available. It can take a huge investment to set up data acquisition systems and may require a complete overhaul of the IT infrastructure. At the same time it is not advised to simply collect all the data possible as this can quickly limit the return on investment. 

Collecting new data can require new sensors, new hardware and software, new storage options and new expertise. A comprehensive data strategy should be drawn up to maximise the long-term value of any new data collected. This would include clarity on the details of what is being collected and where from, as well as any controlled and uncontrolled factors during the data collection process. In some cases a formal experimental design will be required.