Data is Only as Good as its Ability to Drive Value
Data is only as good as its ability to drive value,”
is the core belief of today’s guest, Dan Merzlyak, Head of Business Intelligence at BlackRock. BlackRock is the world’s largest asset management firm with over $10 trillion in assets and Dan is focusing on building a new data conversion and business intelligence strategy for the company’s core alternatives platform offering.
The three different types of analytics that can be used to drive a business are descriptive, predictive, and prescriptive. As Dan explains in more detail in today’s episode, his approach to business intelligence is to first identify the business problems that need solving and then work backward towards the data. Artificial intelligence becomes useful at the prescriptive analytics stage and we’re only just scratching the surface of the potential of this tool to drive value.
In big companies, there is more often than not a gap between the people who are driving the analytics and the people who are creating the analytics. However, Dan believes that in the near future it will be essential to have a greater degree of collaboration throughout the company, and for business leaders to adopt business intelligence tools in their daily workflows as opposed to relying on operational teams to present them with data. To enable true transformation in a business setting, people and processes deserve equal attention.
Dan’s wide range of experience working in different companies across many industries has allowed him to witness the trends that are taking place in the business world. Based on these trends, Dan explains the importance of focusing on seamlessness workflow to attract customers.
The world we live in is constantly changing, and changing fast. Data analytics has the potential to drive enormous value for an organization and keep it relevant in an ever-evolving environment. If you’re interested in hearing about the transformational power of data, you’ve come to the right place!
Listen to this episode of More Intelligent Tomorrow to learn:
- Factors that have driven BlackRock’s astounding growth.
- Why Dan believes in focusing on driving business value first, and working back to the data.
- How different types of analytics can be used to drive a business.
- The importance of investing in the people behind your technology.
- How to build a data culture within your organization.
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