Ben Locwin is a Ph. D., MDA, and MS who has held many executive roles for top 10 companies including biotech, big pharma, and hospitals and clinics. He’s a proponent of analyzing data, and today he and Tom discuss the innovations in data, whether big or small data is right for your business, and how they relate to compliance.

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  • It’s easy to start off with the question, ‘what is big data?’ According to Ben, that’s a loaded question. At a high level, you’re looking at hundreds of thousands, or even millions, of discreet data points. The real danger with big data is when people misuse it, and Ben walks us through some of the ways it can come back to bite you. It’s the awareness of causation versus correlation. He also addresses the age-old questions: does the full moon really bring out the worst in people?
  • What is patternicity, and how does it shape your experience of the world? And how does this instinctual way of processing information affect you in your modern-day decisions? Patternicity used to keep us safe, but in today’s world, it’s often what ruins us. Objective data, when analyzed properly, can get us out of the danger zone of selective memory.
  • One of Ben’s innovations revolves around small data. Many in the compliance field have embraced big data, but Ben posits that if you marry the two, you have a much more robust set of insights you can test and put into your risk management process. Ben uses Post-it Notes, Google, and Jeep as a great set of examples, and they will open your eyes into how you approach your own data.
  • Wouldn’t you love to weed out, or even lessen the false signals, in your data? Ben believes it can be done through wedding small and big data. Big data provides a lot of facts, occurrences, and suppositions, but small data is what can validate them and provide clues and insights for how to address problems in your organization. Ben explains how it works.

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