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…
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…
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…
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…
