Data Leaders Series
Nikola Krunic on Benefits of Trustworthy Data
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Nikola Krunic from SAXO talking about the Benefits of Trustworthy Data
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Oh, how. Oh, that's. I mean, every company can benefit from trustworthy data because basically, if you cannot measure it, you cannot manage it. You can just basically guess it. The problem is not can we benefit. The problem is how we can measure it. Because the way how I usually look at the data is a little bit in the following way. What trustworthy data we have right now access to and we can leverage for our organization. What trustworthy data we can get with a certain effort and what data we absolutely have no access to because all three aspects are very important to whatever we're going to say and whatever business case we're going to do, because basically the data we don't have access to is going to give us a problem of whatever restrictions of any analysis that we are doing. So this basically determines more or less, as you say, the trustworthiness of our data. Because if you only have access to about 5% of what your users are doing, that can be 100% accurate, but it's only 5% of users. And if you need to reach a decision, 95% of users, then you have a problem. So I think we need to think more in which way the data is trustworthy, at which level of interaction and for which decision we need to make, and also then have a cost benefit analysis, how much it costs us to get the additional data versus the data we have. So it's a very complicated question. I hope I kind of touched a little bit upon it, but it is a little bit of a mess, I would say.