Approaches to risk assessment and management are changing. There has been a radical alteration in the nature of risk in many sectors, in that the biggest threat that many companies now face is from disruption of their business model by start-ups. This has meant that traditional approaches to risk—the appointment
Most purchases are driven by our emotions as the consumer's emotional experience is crucial in buying choices. And so we decided to exert the powerful SAS algorithms on a dashboard born in the beginning as a simulation of a remote control system in the healthcare field for home-based patients. The
In the second post of the 10 Commandments of Applied Econometrics series we discussed the issue of embedding statistical tools in the context of business problems. Today, I will present another commandment related to exploration and inspecting the data.
Organizations of all kinds operate in uncertain environments with challenging natural, political, socio-economic and cultural influences. These influences may affect their ability to meet their objectives. The uncertain economic situation of the past few years is a clear, real and pragmatic example of the effect of this uncertainty, something known
Neil Harbisson is completely colour-blind. He sees the world in greyscale. But that does not mean that Neil does not experience colour. Since 2004, he has worn an electronic ‘eye’ that turns the colours into sounds by wavelength. He now experiences the world as a series of tones. He dresses
Regular readers will be aware that in my last post, I made the case for a win-win approach for mature organisations to successfully deliver digital transformation. I think there are many ways we could explain this. Established organisations infrastructure may be old, or their work processes may be complex and
In my first article, I looked at the main areas covered by the 4th Anti-Money Laundering (AML) Directive from the EU. This post covers the amendments to that directive introduced by the 5th AML Directive, and suggests how organizations can address the requirements of the two directives. The 5th AML Directive:
GDPR is coming at all of us like a fast moving car on a narrow road late at night. At least that’s what it seems like to me sometimes when I see customers come to realize the full implications of the new law and get a stunned look on their
The first post of the 10 Commandments of Applied Econometrics series discussed the importance of the use of common sense and understanding of the theory of econometrics in data analysis. Today, I will present the next two commandments related to putting the statistical tools in the business context of a problem. 2. Avoid type
The rise of self-service analytics, and the idea of the ‘citizen data scientist’, has also brought a number of issues to the fore in organizations. In particular, two common areas of discussion are the twin pillars of data quality and data preparation. There is no doubt that good quality, well-prepared
