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Webinar: Simple Beats Complex in Data Analytics, Except for Important Decisions

RHB-UKM WEBINAR

SIMPLE BEATS COMPLEX IN DATA ANALYTICS, EXCEPT FOR IMPORTANT DECISIONS

Date: 25th August 2021
Time:11am-12pm (GMT+8)
Venue: ZOOM MEETING

Contact: Mr. Shahmie Aiman
Phone: 03-8921 4960
Email: rhbchair@ukm.edu.my

[Download Poster]

Synopsis

Tools based on data and numbers have become commonplace in organisational decision-making. Tools such as net promoter scores (NPS), employee engagement scores, and dashboards are simple and commonly used in industry. These tools are attractive because of their simplicity. Other tools such as statistical models are more complex and can be unattractive because they are not easy to explain. There are two broad purposes for using data-based tools – first, they are used to motivate and/or incentivise employees, and second, they are used to make better decisions that bring growth for the organisation. This talk will argue that when the purpose is to motivate, simplicity should be preferred, but when the purpose is to make important decisions, complexity should be preferred. Examples will be provided for why decision-makers go wrong when they mix up the alignment of type of tool with the purpose to which the tool is being put.

 
 
SPEAKER/RHB-UKM ENDOWMENT CHAIR HOLDER

Prof. Dr. Ujwal Kayande
Director of  The Centre for Business Analytics
Melbourne Business School

 

 

Professor Ujwal Kayande is the Founding Director of the Centre for Business Analytics at Melbourne Business School (MBS). He is also a Professor of Marketing at MBS, the Co-Director of the ‘Delivering Value through Digital’ joint program with the University of Oxford, and the RHB-UKM Endowment Chair Holder in Analytics at Universiti Kebangsaan Malaysia.

Ujwal has previously taught Marketing Analytics and Strategy at several leading business schools such as Penn State University and the Wharton School. He has received numerous teaching and international research accolades throughout his career and is a sought-after media commentator on data matters.

He has successfully delivered execution education programs on data analytics to senior leaders of companies across the world. Ujwal currently sits on the Advisory Boards of two technology start-ups.

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