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Prashanth Southekal, PhD's Blog (9)

Building the High Performing Team for Enterprise Data Analytics

Building the High Performing Team for Enterprise Data Analytics

Prashanth Southekal and Santhosh…

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Added by Prashanth Southekal, PhD on November 22, 2019 at 7:30am — No Comments

Data Standardization: The Core building block for Data Quality.

Data for Business Performance is using data in operations, compliance, and decision making. However, in most cases the available data in business enterprises is of poor quality. An article in Harvard Business Review (HBR) says – just 3% of the data in a business enterprise is of good quality. In this backdrop, what can be done to improve data quality? While there are many solutions to improve data quality, one option is to capture the important data entities i.e. master data using data…

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Added by Prashanth Southekal, PhD on May 8, 2019 at 1:30pm — No Comments

Can Lack of Data Always Provide Valuable Insights?

Can Lack of Data Always Provide Valuable Insights?

Prashanth H Southekal and Matthew Joyce

 

Today, data – both structured and unstructured, is seen as the most valuable business asset to solve problems and improve productivity.  An article in Forbes says every company today is a data company! However, we…

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Added by Prashanth Southekal, PhD on March 18, 2019 at 3:30am — No Comments

Demystifying the Term Actionable Insights in Analytics

Demystifying the Term Actionable Insights in Analytics 

Prashanth H Southekal and Matthew Joyce

These days, the term Actionable Insights has become one of the most common terms used in Analytics projects. It has been used so much that it has almost lost its relevance and meaning today. So, what exactly is Actionable Insights and how can you…

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Added by Prashanth Southekal, PhD on January 14, 2019 at 10:30am — No Comments

The Key to Unlock Digital Transformation

Digital Transformation is exploiting digital technologies and data to enhance the firm’s business model. Unfortunately, a Forbes study says that 84% of the Digital Transformation initiatives fail. There are many reasons for this and one important reason is tied to the way businesses inherently operate. Basically, businesses exist to earn profits and driving profits or margins is…

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Added by Prashanth Southekal, PhD on November 12, 2018 at 5:30pm — No Comments

What is NOT Digital Transformation?

These days many companies have embarked on Digital Transformation. Unfortunately, not many have found good success. A recent study in Forbes, says over 84% of Digital Transformation initiatives in business enterprises fail. While lot of articles talk of Digital Transformation including reasons for the poor failure rate, critical success factors, etc.., here is my take on what is NOT Digital Transformation. Here are the top 5 aspects (based on what I have seen) where the means have taken more…

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Added by Prashanth Southekal, PhD on September 7, 2018 at 2:30pm — 1 Comment

Why Data Analytics is Heavy on Data Engineering?

While many companies have embarked on data analytics initiatives, only a few have been successful. Studies have shown that over 70% of data analytics programs fail to realize their full potential and over 80% of the digital transformation initiatives fail. While there are many reasons that affect successful deployment of data analytics, one fundamental reason is lack of good quality data. However, many business enterprises realize this and invest considerable…

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Added by Prashanth Southekal, PhD on July 22, 2018 at 4:00pm — No Comments

Why is Data Missing from the Balance Sheet?

I have been asked many times is data a business asset?. Why is it that an intangible asset like data is not in the company’s balance sheet - a statement of the assets, liabilities, and capital of a business at a particular point in time? Technically, an intangible asset is a non-physical asset that has a multi-period useful life. Examples of intangible business assets are patents, copyrights, customer lists, trademarks, brand names, logo, and data. While data in the recent years…

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Added by Prashanth Southekal, PhD on May 15, 2018 at 5:00am — 6 Comments

Transforming Quantitative Data to Qualitative Data

The two main data types in business are nominal (categorical or qualitative data) and interval data (quantitative or continuous data). Nominal data are just categories on variables such as customer names, and marital status and you cannot do any mathematical operations on this type of data. Bar chart and Pie chart are usually used to describe nominal data. On the other hand, interval data hold numerical values on variables such as income, age, and invoice amount and you can do mathematical…

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Added by Prashanth Southekal, PhD on January 29, 2018 at 9:00pm — 4 Comments

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