The notion behind thick data is that you can't always depend on numerics and algorithms to summarize the 360-degree experience of a customer, or of any other human activity or relationship where unforeseeable factors can enter in.

Consider, for instance, that the term “thick data” is already giving “big data” a run for its money as a buzz phrase. Thick data is simply the idea that numbers alone aren’t enough. To really understand data, you often need to consider things like human emotion, which is rarely data-driven.

Lacking the conceptual words to quickly position the value of ethnographic work in the context of Big Data, I have begun, over the last year, to employ the term Thick Data (with a nod to Clifford Geertz!) to advocate for integrative approaches to research. Thick Data uncovers the meaning behind Big Data visualization and analysis.

Our industry is experiencing a shift in the way that information is being used to drive decisions. Some have referred to this shift as entering the era of big data. … Although most believe that this science is still in its infancy, our industry is likely behind other sectors including retail, manufacturing, and services. Yet it could be argued that the insurance and financial services industry was built on gathering rich, thick data, which has provided rich predictive analytics and strategic direction.