#270: Creating Value Through Data Analytics Best Practices with Prashanth H Southekal

Our Guest Mentor:

Prashanth Southekal is the Managing Principal of DBP-Institute. He is an experienced technology professional who understands what it takes to run efficient technology-based solutions, processes, and organizations. Prashanth brings over 20 years of experience in Data and Information Management from companies such as SAP AG, Accenture, Deloitte, P&G, and General Electric. Prashanth has published 2 books on Information Management including his most recent book – “Data for Business Performance”.

Prashanth’s current projects/clients are in Calgary, Fremont & Bangalore. He lives in Calgary, Canada with his wife & two kids. Outside work, he loves juggling & cricket.

Key Quotes From the Episode: 

[On a definition for data analytics] “Using data to answer your business questions. So that means data and questions are the fundamental building blocks of data analytics. So no data & no questions means there no analytics.” [8:07]

“Look at data analytics holistically in a way how people work and behave rather than in a technical perspective.” [11:31]

“Think big, start small.” [25:11]

(Other resources and how to connect with Prashanth below).

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Key Points From the Episode:

– His top three practices to drive business performance using data analytics

– The importance of viewing analytics in terms of products that meet people’s needs as opposed to projects

– Why Post-COVID data analytics will play a bigger role than it was before.

– Why it’s important to define the cost of not knowing the value of the right information and KPIs.

– Advice to start-up and small companies to get a jump start in using data analytics

Time Stamped Show Notes 

[03:00] – Prashanth’s shares his career journey in data analytics as an IT professional from India, then Belgium and Canada where he worked at GE where and received formal training by enrolling to Lean Six Sigma course. He became a data analytics consultant and Lean Six Sigma Trainer. And to his current role as a consultant to big and small companies like P&G, GE, Shell, Apple, SAS and SAP.

[06:46] – His top three practices to drive business performance using data analytics:

o Data quality

o Treat data analytics as products and not as projects

o Looking at analytics holistically (below)

[09:38] – Looking analytics solution as a product of the whole enterprise because of people and their own interests.

[12:26] – Seeing data analytics holistically in a way that people naturally work and behave rather than in a technical perspective.

[14:23] – Prashant shares an example from India’s largest utility of how to educate the company and the senior management team about the value of data literacy.

[16:02] – Why data analytics is all about having the right questions.

[16:52] – The overlooked cost of not knowing the value of the right information

[18:14] – Exciting things about Prashanth’s current work as a consultant, advisor to start-up companies, large utilities and as an educator.

[21:15] – Why Post-COVID data analytics will play a bigger role than it was before.

[22:36] – Advice to start-up and small companies to get a jump start in using data analytics:

o Define your company objectives, direction and strategies

o Know the purpose of data

o Think big, start small

[26:00] – Prashanth’s best advice ever received.

[28:38] – Great book for the audience to read as suggested by Prashanth.

[29:50] – Learn and connect from other people best practice, social media and in LinkedIn.

[31:07] – Best way to connect with Prashanth.

[31:39] – Visit Prashanth’s website

[32:28] – Prashanth’s parting thoughts:

o Get the right education

o Invest well financially

o Build good network

Resources Mentioned:

Books:

Kindle

Data for Business Performance: The Goal-Question-Metric (GQM) Model to Transform Business Data into an Enterprise Asset by Prashanth Southekal

Paperback

Analytics Best Practices: A Business-driven Playbook for Creating Value Through Data Analytics by Prashanth H Southekal

Paperback

The Data Warehouse Toolkit: The Complete Guide to Dimensional Modeling by Ralph Kimball

Hardcover

Essentials of Business Analytics

Connect with today’s guest:

Email : https://www.linkedin.com/in/prashanthsouthekal/

Website : https://www.dbp-institute.com/

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