Data Transformation Podcast
SAP's Shailendra Kumar Details How to Make Money From All Kinds Of Data

L

isten to my podcast with Shailendra Kumar, Vice President and Chief Evangelist at SAP and author of the hit book, Making Money Out of Data: The Art and Science of Analytics. In this podcast we dive into structured data, semi-structured data, and unstructured data, the biggest myths around data today, how not all structured data is created equal, the power of analytics, and exactly what disruption means, and how so many companies get disruption wrong. Give it a listen.

Read the Transcript: Disruption Happens With What You Don't Know You Don't Know

HIGHLIGHTS

[4:09] Today, people think analytics is reporting. Whereas reporting is just a byproduct of analytics.

[6:09] The data coming from these social media platforms has got a structure. If you look at it, the data coming from Twitter, for example, has got structure. 

[7:13] Before jumping into that area of unknown, you still have a lot of data lying in your organization which you're not utilizing to make sense, to create insights, to solve problems.

[9:25] The problem is people start with the data. That's the wrong place to start. You start with the business problem. Then you think, what data do you need? 

[9:52] Every time I have a discussion with the client or with an individual or an organization, I ask them to write — and this is the most difficult part of the project — I ask them to write the business problem in plain English in one sentence, on the white board. 

[12:38] 95% of the time, I know that people who are making that decision or are reading that report know the answer in the report. That's why they're comfortable with the report, right? 

[13:15] If I'm only telling you what you already know, you're not going to make a change because what you're doing is you're only reaffirming what you already know.

[13:56] So analytics helps you ask the question, the question which you were not asking in the first place. Because if you don't ask the question, then you won't get the answer. 

[16:55] Everyone will tell you that you need more data because that's how they make money. 

SHOW NOTES

Book

Making Money out of Data: The art and science of Analytics

What do you do with the loads of data that you have collected over the years? How do you monetize your most valuable asset? Its not about collecting more and more data but what you do with it. Making Money out of Data is an insightful journey to the undiscovered corners of data and analytics, unlocking mysteries that people are incensed with, through real examples from different industries like Insurance, Retail, Telecommunications and CPG. 

 


Shailendra Kumar  

Shailendra Kumar is author of the acclaimed book, Making Money out of Data: The art and science of Analytics, which covers the undiscovered corners of data and analytics, unlocking mysteries that people are incensed with, through real examples from different industries. Kumar is Vice President and Chief Evangelist at SAP. With the sole motto of "making money out of data", he has helped multiple organisations across the globe to generate incremental revenue or to optimise costs using machine learning and advanced analytics techniques.


Peter Schooff | June 29, 2020