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Analytical Data Sphere

In: RISK ANALYTICS From Concept to Deployment

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  • EDWARD H K NG

Abstract

From years of consulting for and developing analytical solutions, I have come to realize that one of the biggest challenges in this area is the inability to distinguish analytical data from operational ones. From a meta-physical perspective, data are just data. There is no reason why analysis cannot be made of data that are available. It is unsurprising then that many decision-makers are frustrated in not having good insights to guide them and blame all responsible for data for their incompetence. At this juncture of the book, it is clear that not all data are alike. With every organization attempting to leverage on their data assets, I have always advised the need to create an analytical data sphere. What follows are some features that can help guide this attempt…

Suggested Citation

  • Edward H K Ng, 2021. "Analytical Data Sphere," World Scientific Book Chapters, in: RISK ANALYTICS From Concept to Deployment, chapter 7, pages 79-90, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811239069_0007
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    More about this item

    Keywords

    Risk; Modeling; Basel II; Quantification; Data Management; Data Integration; Decision Support; Online Analytical Programming;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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