A data error on the Nasdeq exchange caused chaos last week Monday, as the introduction of test data into the live systems vastly impacted the shares prices of a number of tech companies. Two notable examples: Amazon prices crashed by 87%, while Zynga bounced up by an amazing 3,292% In this case, the error can…
A recent post by our partner, Syncsort Trillium Software, introduces the concept of the data wedge. According to the post, which can be read here, the Data Wedge is the relationship between what data IS, what data DOES and what data MEANS. The post was inspired by a recent Trillium Software webinar on Gaining Clarity…
The most recent McKinsey-IIF survey on risk data and technology shows that banks are making significant investments in data management in order to meet BCBS 239 and other compliance targets. Ironically, according to bank’s own quantified self assessments, overall compliance levels have declined since 2015 in spite of this investment. Why is this? For regulatory…
The 1-10-100 rule is a quality management concept developed by G. Loabovitz and Y. Chang that is used to quantify the hidden costs of poor quality. When relating the concept to data quality it must be recognized that the principle, rather than the exact numbers will apply. So how does it work? The 1-10-100 rule…
A recent post on Information Management makes the point that master data management should not be run as an IT project. From an IT perspective, master data management is most typically treated as a data integration problem. The focus is often on how master data can be consolidated and synchronised across various operatioanl systems. In…
Would you move into a new house without checking that it would fit your furniture? Many of us had the experience of trying to fit a comfy couch, or a large bed, into a room that is too small for it. It’s frustrating. Option 1: Move on to a bigger house. Option 2: Throw out…
I think it is fair to say that we are seeing a world in flux. In particular, Britain’s exist from the European Union (or Brexit) signals a shift in the world order that most of us have known since the 1970’s. The Brexit happened in spite of polls showing that Britain would remain in the…
Many South Africans will be familiar with the recent controversy over the renewal of the Net1 contract to pay social grants. I prefer not to engage with the merits of the Net1 decision – ultimately the I do not have access to the facts. The realities of whether an alternative could have, or should have, been…
In researching last weeks post, I came across this great lecture by Professor Thomas Lumley Prof Lumley discusses the role that statisticians must play in data science – in an entertaining and understandable way. Great piece for any aspiring data scientist, or the interested lay person. Data Science: Will Computer Science and Informatics Eat Our Lunch? Mainstream…
When Forbes coined the phrase “sexiest job of the 21st century” to describe data science, way back in 2012, the role was in its infancy. At the time, the ability to discover new insights from data, using a combination of statistics, machine learning and computer programming, was expected to be thew new competitive differentiator. Data…
Easter 2017 has just passed. For practicing Christians, Easter is an important religious holiday. Arguably, Easter commensurate the founding premise of the Christian faith. In South Africa we celebrate a long weekend – both Easter Friday and the Monday are public holidays. For Christians, the Easter Sunday Church service is one of the most important…
Over the last 12 months, the number of Chief Data Officers in South Africa has increased just a handful, to nearly 20. The role remains inconsistently defined – in some cases reporting directly to the CEO or COO, and in other cases seen as a more junior role, for example reporting into the CIO. A…
