Modern businesses generate and consume increasingly large amounts of data. Information is needed to support operational and strategic decisions. Despite the advent of Big Data tools and technology, most organizations I have worked with aren’t able to take advantage of the data or tools in their daily work. While greater awareness of human visual perception… Continue reading The Missing Information in Business Metrics
Tag: Data
The Practical Value of a Statistical Method
Shortly after I wrote my last blog “On Statistics as a Method of Problem Solving,” I received the latest issue of Quality Progress, the official publication by the American Society for Quality. A Statistics article “Making the Cut – Critical values for Pareto comparisons remove statistical subjectivity” caught my attention because Pareto analysis is one… Continue reading The Practical Value of a Statistical Method
On Statistics as a Method of Problem Solving
If you have taken a class in statistics, whether in college or as a part of professional training, how much has it helped you solve problems? Based on my observation, the answer is mostly not much. The primary reason is that most people are never taught statistics properly. Terms like null hypothesis and p-value just… Continue reading On Statistics as a Method of Problem Solving
What Does the Data Tell Us?
It’s March 31, 2020. In the past 3 months, the novel coronavirus (COVID-19) has changed the world we live in. As the virus spreads around the globe, everyone is anxiously watching the latest statistics on confirmed cases and deaths attributed to the disease in various regions. With the latest technology, timely data is more accessible… Continue reading What Does the Data Tell Us?
Can You Trust Your Data?
Data is a new buzzword. Big Data, data science, data analytics, etc. are words that surround us every day. With the abundance of data, the challenges of data quality and accessibility become more prevalent and relevant to organizations that want to use data to support decisions and create value. One question about data quality is… Continue reading Can You Trust Your Data?
Capabilities of Future Leaders
What capabilities are required for future leaders in life sciences? How can organizations develop such leaders? A recent McKinsey article, Developing Tomorrow’s Leaders in Life Sciences, addresses this exact question. Using data from their 2017 survey on leadership development in life sciences, the authors illustrated the gaps and opportunities and presented five critical skills. Adaptive… Continue reading Capabilities of Future Leaders
Road to the Data-rich Future
There is hardly a day gone by without seeing an article about a business or organization using data analytics, machine learning, or artificial intelligence to solve tough problems or even disrupt the industry. With wide availability of computers and other digital devices, capturing and storing data becomes easier. This represents unprecedented opportunities to gain knowledge… Continue reading Road to the Data-rich Future