Jay Laramore works for SAS training business teams how to use data. What surprises Jay is how many new contexts people want to apply data analytics today. As data has become more available, people have more ideas where to use it.
In compliance, education of compliance teams on the possibilities of data analytics can spur new ways of gathering data and making it available to the compliance team for innovation. Jay explains that sometimes data that could be helpful simply has not been captured, resulting in a “chicken and the egg” problem where analytics cannot be applied because the data does not exist, but the data does not exist because the value of collecting the data for analytics is not known. In these cases, education in data analytics in the organization encourages the collection of new types of data that can be used to create answers to new problems.
Often, compliance teams are faced with problems that seem unquantifiable, for example, the cost of effort spent on non-compliance problems by business teams. Even in these cases, Jay explains that techniques exist that allow “subjective” issues of effort to be included in analytics models.
Jay Laramore is an Analytical Training Consultant at SAS where he trains clients how to build analytical solutions, and explores new technologies and methods that will revolutionize the constantly evolving analytics industry. He is a strategic, naturally curious, analytical problem solver with the ability to clearly communicate results to individuals with various backgrounds and technical acumen. Jay’s passion is not just building predictive models, but automating model building processes to deliver scaleable solutions to complex business problems.
The Masters of Disaster® podcast is produced and hosted by Leona Lewis, Founder of ComplyEthic Consulting