Monday, September 15, 2014

Using data to support the business, or to drive the decisions?

This is probably one of the best articles I have read in some time.  Written by Daniel Waisberg, published this month on ~

No need to re-write it.  Please read it, see how Daniel suggests that we scope the project, answer a few very key questions, and build the framework.  Somewhat ironic, is the comparison to Architecture. I actually began my studies years ago as an Architect for homes, and he is right! Turning abstract design into reality is very much like structuring the data model. I think back to countless hours of reporting, and data analysis within the trading industry. It wasn't about the trade, or a specific data point. It was about the pre and the post, or the trending and the patterns. For example, the realtime PnL or the daily, month-to-date and even yearly statistics. Every time range provided a very different visual on the trading activity. I learned the market and the individual product definitions. I then provided one awareness to the traders, and another to upper management. That insight was used to predict gains (and losses), and drive the trade.  

Anyway, I was very impressed with Daniel's article, and I wanted to share it here as well. I have been on both sides of the fence, per se.  Supporting business operations with the data, and driving the business decisions. The former is overly complicated, very problematic, and not nearly advantageous as it need be.  Electronic tradding, or any other industry -- the latter is where we want to be.  I am certain.

Modeling our data with meaning.  Thinking with it, and gaining from it.  What else is there?

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