One of the best ways to determine when to hire a data-analysis expert is to look at what benefits you can derive from their work. Here are 10 ways an expert can help you.
- Assess available data and evaluate what the data can and cannot tell you.
- Identify and test relevant data elements.
- Analyze data to identify consistencies and inconsistencies within the data.
- Determine key considerations and variables to include in financial models.
- Assess individualized versus systemic issues.
- Compare client data against, and analyze in conjunction with, third-party and industry data.
- Evaluate all available, relevant, and valid data, rather than performing a sample review.
- Quickly assess potential liability and quantify potential exposure.
- Generate various dynamic scenarios to evaluate the impact of changes to a financial model.
- Make informed decisions about strategies and approaches.
Angela Sabbe is a managing director with Ankura in Los Angeles, California, and chairs the Consumer Litigation Committee’s Subcommittee on Electronic Transactions.