by Andrew White | September 22, 2017 | Comments Off on Lack of Data Can Stymie Important Decisions – For Anyone
I could not resist this one. I spotted a press release from the IMF about “data gaps” so I didn’t think long – I clicked on the link (SB and IMF Report on Progress with G20 Data Gaps Initiative). My joy was rewarded in that I can talk about my favorite topics together – economics and data.
It turns out that the IMF and the G20 finance ministers agreed that they did not have to hand the needed data to make smart policy decisions in time to avert the financial crisis that we all remember. Well, we can all attest to that situation. But it seems there is recognition that certain data would have helped if it had been available; and such data might have helped with policy decisions and so perhaps maybe, just maybe, we might have averted some of the mess we still find ourselves in.
I am not sure what data is being collected or added to the standard ‘delivery’ system that G20 finance ministers need, but I can imaging some of it. Clearly they developed or updated or reviewed their models and “discovered” something new – that now needs “delivery” on a regular basis. This discover versus delivery is a relevant way to look at emerging analytics architecture (gross over-simplification of the term architecture I am sure) in this new data lake era.
I just thought that it was a great point – even the famous IMF and our esteemed G20 finance ministers are stuck with gaps in their data feed. We are not alone.
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