On any given day, an organization’s senior leadership can be involved in numerous tasks, some of which, may not even be related to that individual’s managerial function. So, how do the upper layers of a company stay abreast of trending tools and technologies, and potential opportunities, if they’re bogged down by a plethora of other issues? How do they grow, professionally?

While face-to-face training has been the norm for quite a while now, it’s becoming increasingly difficult to spare that kind of time and money in such a dynamic and competitive market. Imagine your senior leadership being out of sight in a moment of crisis. Sure, contingency plans always exist, but after all, guidance from your mentor is like none other.

For executives, digital learning programs work best as they allow leaders to continuously learn and grow without interfering in professional and personal lives, and keep an executive motivated to complete such programs given the more appealing and interactive nature. Coming in the form of e-learning and virtual learning, mobile learning, social learning, and even hybrid learning for a more holistic experience; digital learning services provide organizational leaders with benefits that positively affect not only the individual, but trickling up, the organization overall.

Digital resources provide management with greater flexibility, allowing them to focus on what’s required in the moment, while still working towards furthering their professional prowess at a more convenient time. This also means significant cost-savings to the organization, allowing the individual to progress at a steady rate while financial resources can be allocated in such a manner to supplement the education being provided, reaping greater benefits for the organization as a whole.

Additionally, “self-paced” can still mean “on pace” when done right! Specialized learning techniques such as games and tailor-made assessments can increase engagement levels and supplement knowledge retention. On top of that, refresher modules keep leaders aware while instant knowledge updates keep them on their feet. Your leaders will be ready to tackle existing problems more efficiently, and new ones without hesitation.

Mastech Digital, a digital transformation IT services company, offers digital learning services as a platform for augmented executive performance and enhanced organizational success. With rich experience and proven success in handling several digital learning engagements across industries, our team of learning experts is fully equipped to take your leaders, and your company, to the next level.

 

Author James Wallace
James Wallace
Consultant Manager



Big Data continues to remain a black box term, even as we enter the second half of 2018. There are questions around it such as, how is it collected and what it takes to manage it and make it usable for business. The easiest way to explain this might be in the form of an analogy, something we could relate to our day-to-day lives.

Trading. Each day, fortunes are either made, lost, incrementally increased or decreased. It used to depend primarily on the boldness of the trader and even more so on the mood of the market. When modern technology emerged in the form of predictive analytics, it changed something.

In an instant, trading became a business of mathematical algorithms, custom indicators, integrated beliefs, and more. It became a thing that enabled the conversion of primary data into valuable insights, allowing you to make future projections based on both real-time and historical data. Predictive Analytics mitigated trade risk and ushered – in silence – data as the blood of modern society.

However, data does have its limitations. And predictive models merely predict, forecasting multiple outcomes based on a pattern of inputs. It is access to knowledge and is anything but infallible.

At the end of the day, the market is as human as the traders who make decisions behind these sophisticated, predictive models. It makes them both subject to the irrational.

Is it then truly valid to tout predictive analytics as the only big data trend to look out for in 2018?

An Overlooked Dark Horse in the Big Data Race: Prescriptive Analytics

Contrary to common perception, prescriptive analytics isn’t a specific type of analytics in and of itself. It’s more easily defined as an umbrella term for the several types of analytics utilized to improve decisions. Researchers have called it the goal of all analytics.

It could be used in two ways:

  • Inform the Decision Logic

Prescriptive Analytics provides input to a process. It could be as simple as aggregate analytics – say how much a customer spent on products the last couple of months – or as sophisticated as something that predicts the next best offer, or the degree of discount needed to entice said customer for future purchase.

  • Evolve the Decision Logic

Decision logics are known to become flawed or degrade over time, marking a sizeable chunk of historical data as unusable. But measuring and assessing the effectiveness and ineffectiveness of enterprise decisions could refine, or even redefine the decision logic to become better. It could be as sophisticated as embedded machine learning algorithms using decision logic to automatically decide what content is to be sent to target audiences.

In 2017, a Forrester Report outlined a warning to business enterprises – to stop wasting both money and time on unactionable analytics. With increasing use and value, prescriptive analytics has a significant role to play to drive analytics in today’s era. It is projected to make business decisions faster, enhancing enterprise efficiency and productivity.

The market for prescriptive analytics is expected to grow as well, with an expected value of $1.1 billion by the end of 2019. Elite organizations such as Google, General Electric, Pitney Bowes, and Pop Sugar among others seem to have caught on to this trend. Question is, will you?

Kishalay-Gangopadhyay
Kishalay Gangopadhyay
Senior Director – North America Operations, Mastech InfoTrellis