p.1
Data Literacy Imperative
What case study is discussed in relation to data?
Case on Data Literacy empowerment.
p.2
Data Literacy Imperative
What is the Data Literacy imperative?
It emphasizes the importance of understanding and using data effectively in decision-making.
p.2
Digital Transformation and Its Impact
How does digital transformation change business and society?
It enhances efficiency, improves customer experiences, and fosters innovation across various sectors.
p.2
Role of Data in Innovation
What is the role of Data in digital transformation?
Data drives insights that inform strategies and decisions, enabling organizations to adapt and thrive.
p.16
Data-Driven Decision Making
What is crucial for successful digital transformations?
Access to reliable, current data.
p.41
Public Good and Data Utilization
What role does data play in enhancing government transparency?
It allows citizens to access information about government activities and decisions.
p.14
Digital Transformation and Its Impact
What should organizations focus on first in digital and AI transformations?
The problem, not the technology.
p.27
Data-Driven Decision Making
What do business intelligence tools help organizations do?
Cleanse, source, and place data in the right place at the right time.
p.17
Digital Transformation and Its Impact
How does digitalization relate to data and analytics?
Digitalization enables the collection and analysis of data to drive value and insights.
p.9
Data Literacy Imperative
Why is data referred to as the new oil in the digital economy?
Because it is one of the most valuable assets for companies in the digital and AI era.
p.44
Data Literacy in Organizations
What is the main focus of Exercise 4 in the Hang Seng Bank report?
Data Literacy Empowerment.
p.7
Data Literacy Imperative
What is the fastest growing data skill over the past year?
Basic data literacy skills.
p.22
Data-Driven Decision Making
Can you give examples of predictive analytics applications?
Cash flow forecasting in finance, predicting patient outcomes in medical, and customer behavior analysis in marketing.
p.42
Public Good and Data Utilization
Which field does Sarah Williams specialize in?
Technology and Urban Planning.
p.22
Data-Driven Decision Making
How does predictive analytics enable better decision-making?
By improving risk management and identifying opportunities.
p.9
Data Literacy Imperative
What is the relationship between data and AI?
AI is highly dependent on data.
p.36
Data-Driven Decision Making
What type of insights does Gartner offer?
Gartner offers insights on technology trends, market analysis, and strategic advice for IT leaders.
p.5
Digital Transformation and Its Impact
How have video and music streaming services impacted entertainment?
Viewers have soared, and user data informs content creation and recommendation algorithms.
p.22
Data-Driven Decision Making
What is the primary purpose of predictive analytics?
To forecast future trends and events using historical data.
p.22
Types of Data and Analytics
What techniques are applied in predictive analytics?
Data mining, predictive modeling, and machine learning.
p.31
Role of Data in Innovation
What is the difference between creativity and innovation according to Gartner?
Creativity involves idea generation, while innovation focuses on operationalizing ideas and making impacts.
p.9
Data Literacy Imperative
What is now considered non-negotiable for organizations?
The use of data and analytics.
p.12
Future Skills and Data Literacy
What should be evaluated when weighing the two banking options?
Considerations such as job stability, growth opportunities, and work environment.
p.7
Data Literacy Imperative
Why are data skills considered a must-have in organizations?
The pace of innovation is rendering them integral to almost every role.
p.23
Types of Data and Analytics
What role do machine learning algorithms play in prescriptive analytics?
They provide data-informed recommendations.
p.41
Public Good and Data Utilization
What is the primary purpose of utilizing data for public good?
To improve societal outcomes and address community needs.
p.31
Types of Data and Analytics
What are the two metaphors used to describe Data & Analytics (D&A)?
Science vs. Art and Factory vs. Forest.
p.44
Data Literacy in Organizations
What is the significance of data literacy in organizations like Hang Seng Bank?
It empowers employees to make informed decisions based on data.
p.41
Public Good and Data Utilization
How can data contribute to public health initiatives?
By tracking disease outbreaks and improving healthcare delivery.
p.33
Types of Data and Analytics
What is Embedded Analytics?
Integration of analytic capabilities within applications such as CRM, ERP, and smart watches.
p.28
Role of Data in Innovation
What is the primary focus of the Gartner video on unleashing innovation?
How to leverage data and analytics for innovation.
p.17
Digital Transformation and Its Impact
What is the primary focus of Data & Analytics in the context of digitalization?
Capturing value from digitalization.
p.12
Future Skills and Data Literacy
What are the two banking career options being considered?
Traditional banks and licensed digital banks.
p.25
Future Skills and Data Literacy
What types of activities might be included in Exercise 2?
Physical workouts, skill drills, or practice routines.
p.12
Future Skills and Data Literacy
What is a key factor to consider when choosing between traditional and digital banks?
Personal inclination towards either option.
p.42
Public Good and Data Utilization
What is Sarah Williams' role at MIT?
Associate Professor and Director of the Civic Data Design Lab.
p.40
Data-Driven Decision Making
How can data be used to enhance customer experience?
By driving a product recommendation engine for customers.
p.3
Digital Transformation and Its Impact
Which type of companies made more progress in digitalization during the pandemic?
Smaller companies that were traditionally less digitalized.
p.17
Role of Data in Innovation
What role does data play in the process of digitalization?
Data serves as a foundation for insights and value creation.
p.19
Types of Data and Analytics
What is the primary purpose of Descriptive Analytics?
To understand what has happened over a specific period by summarizing past data.
p.29
Role of Data in Innovation
What is one key takeaway on Data & Analytics (D&A) from Gartner?
D&A can drive significant business innovation.
p.42
Public Good and Data Utilization
What is the Civic Data Design Lab focused on?
Utilizing data to address urban planning and civic issues.
p.16
Digital Transformation and Its Impact
How should digital transformations be focused?
On specific domains, such as customer journey or functions, rather than single use cases.
p.18
Types of Data and Analytics
What is descriptive analytics?
It answers the question: What happened?
p.20
Types of Data and Analytics
In what areas is diagnostic analytics applied?
Process improvement, equipment maintenance, and understanding outliers in data sets.
p.44
Data Literacy in Organizations
How does Hang Seng Bank aim to enhance data literacy?
Through training and resources for employees.
p.38
Data-Driven Decision Making
What is Status Quo Bias?
The resistance to change when decisions suggest a shift from the current state.
p.14
Digital Transformation and Its Impact
Who made the statement about starting with the problem in digital transformations?
Eric Lamarre from McKinsey.
p.5
Digital Transformation and Its Impact
What role does order data play in food delivery apps?
It improves route optimization and restaurant partnerships.
p.42
Public Good and Data Utilization
What is the primary focus of Sarah Williams' work?
Using data for public good.
p.5
Digital Transformation and Its Impact
What has contributed to the popularity of fitness apps?
User activity data enhances personalized exercise plans and health tracking.
p.17
Data-Driven Decision Making
What is a key benefit of leveraging data and analytics in digitalization?
Improved decision-making and operational efficiency.
p.19
Types of Data and Analytics
What does Descriptive Analytics use to identify trends and relationships?
Current and historical data.
p.45
Data Literacy in Organizations
Why does Hang Seng Bank launch Data Literacy Empowerment (DLE) as a people priority?
To enhance employees' ability to understand and utilize data effectively.
p.36
Digital Transformation and Its Impact
What is Gartner known for?
Gartner is known for providing research and advisory services in the field of information technology.
p.10
Data Literacy Imperative
What role does data literacy play in AI?
It safeguards against AI risks such as biases in algorithms, misinformation, and hallucination.
p.12
Future Skills and Data Literacy
What additional information might be needed to make a decision?
Insights on company culture, technology used, and career advancement opportunities.
p.20
Types of Data and Analytics
What techniques are used in diagnostic analytics?
Hypothesis testing and diagnostic regression analysis.
p.10
Data Literacy Imperative
What skills does data literacy underpin?
Future skills, human-centric capabilities, and transferable skills like critical thinking and creativity.
p.39
Data-Driven Decision Making
What is a data-driven decision?
A decision made primarily based on data analysis and quantitative evidence.
p.29
Data-Driven Decision Making
What is a second key takeaway on D&A from Gartner?
Effective D&A strategies can enhance decision-making processes.
p.24
Types of Data and Analytics
How does prescriptive analytics assist in financial portfolio management?
By suggesting investment strategies to achieve specific financial goals while managing risk.
p.30
Digital Transformation and Its Impact
What characterizes the current era according to Gartner?
An era of 'perpetual uncertainties' and a rapidly changing world.
p.32
Types of Data and Analytics
What sources do organizations collect Big Data from?
Sensors, social media, online transactions, etc.
p.31
Challenges in Data Management
What type of governance is suggested to support innovation with data?
Adaptive data governance.
p.10
Data Literacy Imperative
What is the primary goal of data literacy?
To empower individuals to ask the right questions in problem solving and decision making.
p.25
Future Skills and Data Literacy
How can Exercise 2 contribute to overall health?
By improving physical fitness and mental well-being.
p.23
Data-Driven Decision Making
How does prescriptive analytics provide recommendations?
By considering relevant factors and recommending optimal courses of action.
p.9
Data Literacy Imperative
How can businesses capture value from data?
Through personalization, digital customer journeys, and predictive analytics.
p.16
Digital Transformation and Its Impact
What is essential for a successful digital transformation?
A clear strategy focused on business value.
p.3
Digital Transformation and Its Impact
What is digitalization about beyond just becoming digital?
It's about new business value creation.
p.40
Data-Driven Decision Making
What analytical approach can be adopted for selecting new store locations?
Analyzing demographics, traffic, and retail business data.
p.19
Types of Data and Analytics
Give examples of areas where Descriptive Analytics is applied.
Climate, traffic reports, financial analysis, customer behavior tracking.
p.32
Types of Data and Analytics
What are the three key characteristics of Big Data?
Volume, variety, and velocity.
p.23
Data-Driven Decision Making
Why is human judgment essential in prescriptive analytics?
To contextualize and guide algorithmic outputs.
p.39
Data-Driven Decision Making
What characterizes a data-informed decision?
A decision that considers data but also incorporates other factors such as experience and intuition.
p.29
Data Literacy in Organizations
What is a third key takeaway on D&A from Gartner?
Organizations must foster a data-driven culture to maximize D&A benefits.
p.37
Data-Driven Decision Making
What does contextual decision making emphasize?
The importance of the specific situation or environment.
p.16
Types of Data and Analytics
What technology enables teams to access data and applications?
Distributed technology, such as APIs.
p.28
Data-Driven Decision Making
How can organizations foster a culture of innovation?
By integrating data analytics into their decision-making processes.
p.32
Types of Data and Analytics
What is Smart Data?
Refined raw Big Data into a more manageable and valuable form.
p.32
Data-Driven Decision Making
What can be extracted from Smart Data?
Relevant information, patterns, and insights.
p.47
Data-Driven Decision Making
What is the main theme of the article 'Making data analytics work for you'?
How to effectively utilize data analytics.
p.4
Digital Transformation and Its Impact
How does usage data benefit remote working tools?
It informs and optimizes features and user experience.
p.4
Digital Transformation and Its Impact
How does usage data impact government online services?
It continues to refine functionalities.
p.13
Data-Driven Decision Making
What should be considered when making a choice?
Factors considered in your choice.
p.27
Data Literacy in Organizations
What does 'democratize data' mean?
Putting data in the hands of the masses to empower the workforce.
p.8
Data Literacy Imperative
What is the title of the report based on the Data Camp Survey?
The State of Data & AI Literacy Report 2024.
p.20
Types of Data and Analytics
What does diagnostic analytics identify?
The root causes of trends and correlations between variables.
p.10
Data Literacy Imperative
How can data literacy influence one's mindset?
It helps develop a proactive mindset instead of a reactive one.
p.45
Data Literacy in Organizations
How do staff engage in Data Literacy Empowerment (DLE)?
Through training programs and workshops focused on data skills.
p.24
Types of Data and Analytics
What is an example of prescriptive analytics in supply chain management?
Determining the best inventory levels, production schedules, and distribution routes to minimize costs and maximize efficiency.
p.37
Data-Driven Decision Making
What are the three approaches to decision making mentioned?
Intuition, contextual, and data-driven.
p.9
Data Literacy Imperative
What does inclusive data literacy awareness promote?
Community engagement in digitalization, smart cities, and smart living.
p.31
Data-Driven Decision Making
What should be removed to foster innovation according to the key messages?
Mental constraints and habitual thought patterns.
p.40
Data-Driven Decision Making
What is the benefit of focusing on competencies of high performers in training?
It enhances the effectiveness of training programs.
p.24
Types of Data and Analytics
What role does prescriptive analytics play in marketing campaigns?
Identifying the most effective channels, timing, and messaging for targeted marketing efforts.
p.38
Data-Driven Decision Making
Why should one be cautious of biases in decision making?
Biases can lead to poor decisions by limiting the consideration of alternative data.
p.29
Challenges in Data Management
What is one challenge to innovate with data?
Data quality and integrity issues.
p.30
Data-Driven Decision Making
How do Data & Analytics transform our understanding of uncertainties?
They provide visibility to uncertainties and accelerate insights creation.
p.10
Data Literacy Imperative
What trend is emerging in hiring practices?
A shift from credentials to skill-based hiring.
p.39
Data-Driven Decision Making
What is the role of creativity in data-inspired decisions?
Creativity plays a central role, as these decisions are influenced more by inspiration than by data alone.
p.32
Role of Data in Innovation
What is the goal of refining Big Data into Smart Data?
To make informed decisions, create predictions, optimize processes, and drive innovation.
p.25
Future Skills and Data Literacy
What is the purpose of Exercise 2?
To engage in physical activity or practice specific skills.
p.3
Digital Transformation and Its Impact
How did digitalization help businesses during the pandemic?
It allowed them to adapt to remote work and online operations.
p.27
Data Literacy in Organizations
How does a diverse workforce contribute to data utilization?
By leveraging different expertise and experience to succeed with data more effectively.
p.5
Digital Transformation and Its Impact
How has e-commerce changed with digital transformation?
Online shopping surged, with purchase history and browsing data enhancing product recommendations and personalized marketing.
p.25
Future Skills and Data Literacy
What is a common goal of participating in Exercise 2?
To enhance performance or achieve personal fitness goals.
p.40
Data-Driven Decision Making
What role does big data play in product merchandising?
It helps target customers using predictive analytics.
p.38
Data-Driven Decision Making
What is Confirmation Bias?
The tendency to only look for data that supports our argument.
p.23
Data-Driven Decision Making
How does prescriptive analytics complement human decision-making?
By giving valuable insights to inform actions.
p.38
Data-Driven Decision Making
What does First Impression Bias or Anchoring refer to?
Jumping to conclusions based on the first result without considering other options.
p.40
Data-Driven Decision Making
How can people analytics improve training programs?
By mining performance reviews to identify common behaviors of high performers.
p.36
Challenges in Data Management
How does Gartner assist organizations?
Gartner assists organizations by helping them make informed decisions regarding technology investments and strategies.
p.19
Data Literacy Imperative
What may the prevalence of Descriptive Analytics tools indicate?
A lack of data literacy to go beyond Descriptive Analytics.
p.33
Types of Data and Analytics
What is the purpose of Edge Analytics?
To collect and analyze real-time data at the sensor or device level, avoiding delays in sending data to the Cloud or on-site server.
p.36
Digital Transformation and Its Impact
What is a key focus area for Gartner's research?
A key focus area is the impact of digital transformation on businesses.
p.24
Types of Data and Analytics
How can prescriptive analytics optimize energy consumption?
By adjusting heating, cooling, and lighting systems in buildings.
p.37
Data-Driven Decision Making
What is the primary focus of data-driven decision making?
Using data and analytics to inform choices.
p.18
Types of Data and Analytics
What does prescriptive analytics help determine?
It answers the question: What should we do next?
p.16
Challenges in Data Management
What is important for the adoption of digital transformation?
Strong adoption and change management.
p.29
Challenges in Data Management
What is a third challenge to innovate with data?
Resistance to change within the organization.
p.46
Role of Data in Innovation
What role does Data Literacy play in innovation?
It helps remove mental constraints and supports adaptive governance to unleash innovation.
p.47
Data-Driven Decision Making
What is a key takeaway from the McKinsey Quarterly article on data analytics?
Data analytics should work for the business, not the other way around.
p.4
Digital Transformation and Its Impact
How can patient data be utilized in telemedicine?
It can feed diagnosis algorithms and improve scheduling systems.
p.6
Data Literacy Imperative
How does analysis contribute to digital offerings?
It improves service quality, personalization, and efficiency, creating a feedback loop of continuous improvement.
p.6
Data Literacy Imperative
What is key for organizations beyond just technology investment?
Adoption of a data mindset and data literacy.
p.45
Data-Driven Decision Making
In what ways does Data Literacy Empowerment (DLE) benefit the Bank and its staff?
It improves decision-making, enhances productivity, and fosters a data-driven culture.
p.10
Data Literacy Imperative
What technologies should one comprehend as part of data literacy?
AI, web 3, blockchain, digital assets, CBDC, and crypto.
p.18
Types of Data and Analytics
What does diagnostic analytics focus on?
It answers the question: Why did this happen?
p.20
Data-Driven Decision Making
What level of analytics should organizations spend the most time on?
The second level, which is diagnostic analytics.
p.2
Types of Data and Analytics
What are the different types of Data & Analytics and their purposes?
Types include descriptive, diagnostic, predictive, and prescriptive analytics, each serving to analyze past performance, identify trends, forecast outcomes, and recommend actions.
p.18
Types of Data and Analytics
What is the purpose of predictive analytics?
It answers the question: What might happen in the future?
p.33
Types of Data and Analytics
Give an example of where Edge Analytics is applied.
In safety features of self-driving vehicles.
p.30
Challenges in Data Management
What analogy is used to explain visibility and uncertainties?
The analogy of Poker versus Chess.
p.46
Data Literacy Imperative
How does Data Literacy create value?
It helps in creating value for business, community, and personal growth.
p.46
Types of Data and Analytics
What are the four types of Data & Analytics?
Descriptive, Diagnostic, Predictive, and Prescriptive Analytics.
p.47
Digital Transformation and Its Impact
How has COVID-19 transformed business according to McKinsey?
It has accelerated the adoption of technology.
p.46
Public Good and Data Utilization
How can data serve the public good?
Data is not restricted to business and can benefit the community at large.
p.15
Digital Transformation and Its Impact
How do ML and AI contribute to product development?
They uncover patterns that drive new products and services.
p.4
Digital Transformation and Its Impact
What trend has increased in digital payments?
Cashless and mobile payments.
p.15
Digital Transformation and Its Impact
How has the valuation of firms changed?
It has shifted from tangible assets to intangible assets.
p.6
Data Literacy Imperative
What is the growing demand in organizations regarding staff?
Data literate staff to help companies get returns from investments in digital and AI technology.
p.10
Data Literacy Imperative
Why are data-informed decisions important in a VUCA world?
They provide confidence and resilience in actions.
p.41
Public Good and Data Utilization
In what ways can data support environmental sustainability?
By monitoring natural resources and assessing the impact of climate change.
p.32
Data-Driven Decision Making
What is the tendency of organizations regarding data storage?
To store as much data as possible for potential future analysis.
p.24
Types of Data and Analytics
What is a key application of prescriptive analytics in maintenance scheduling?
Predicting equipment failures and recommending maintenance actions to prevent downtime.
p.37
Data-Driven Decision Making
In what scenarios might intuition be more valuable than data?
In situations with limited data or when quick decisions are needed.
p.46
Data-Driven Decision Making
How does Data & Analytics transform our understanding?
It helps create new insights and understand uncertainties in a fast-changing world.
p.4
Digital Transformation and Its Impact
What surge occurred in telemedicine?
Virtual doctor consultations.
p.4
Digital Transformation and Its Impact
What new feature does HA Go offer in telemedicine?
Carer Mode (available from August 2024).
p.15
Digital Transformation and Its Impact
What change did Covid-19 bring to business interactions?
It shifted physical interactions to virtual interactions.
p.15
Digital Transformation and Its Impact
What has changed regarding the sources of value creation?
There is a shift from inside the firm to outside the firm and from employees to external partners.
p.16
Digital Transformation and Its Impact
What type of teams are necessary for digital transformation?
Cross-functional teams that include both technology and business.
p.32
Challenges in Data Management
What challenges does Big Data present?
Management, storage, processing, and analysis.
p.28
Data-Driven Decision Making
What does the video suggest organizations need to do with their data?
Transform it into actionable insights.
p.41
Public Good and Data Utilization
What is an example of data being used for social justice?
Analyzing crime data to identify and address systemic inequalities.
p.29
Future Skills and Data Literacy
What is another challenge to innovate with data?
Lack of skilled personnel to analyze and interpret data.
p.2
Data Literacy in Organizations
What is the relevance of Data Literacy to business and at a personal level?
It enables individuals and organizations to make informed decisions, enhancing competitiveness and personal effectiveness.
p.30
Role of Data in Innovation
What do uncertainties represent in the context of change?
A mandate for change and a way to maintain relevance.
p.32
Data-Driven Decision Making
How does Smart Data contribute to decision-making?
By transforming data into actionable intelligence that leads to meaningful outcomes.
p.26
Types of Data and Analytics
What are the four types of analytics?
Descriptive, Diagnostic, Predictive, and Prescriptive analytics.
p.15
Digital Transformation and Its Impact
What does digital transformation change in companies?
It changes how companies create value.
p.6
Data Literacy Imperative
What type of demand should businesses create for data insights?
A 'pull' for data insights from business, not a 'push' from the data team.
p.39
Data-Driven Decision Making
How does a data-inspired decision differ from data-driven and data-informed decisions?
A data-inspired decision uses data as a source of inspiration but relies more on creativity and intuition.
p.46
Digital Transformation and Its Impact
What accelerated the adoption of digital technology during Covid?
The pandemic led to unprecedented volumes of data generated in digitalization.
p.10
Data Literacy Imperative
What is the significance of data storytelling skills?
They enable impactful communication and are often the first screen in hiring.
p.2
Data-Driven Decision Making
How does Data & Analytics unleash innovation?
By providing insights that lead to new ideas, products, and services, fostering a culture of experimentation.
p.28
Data Literacy in Organizations
What role does leadership play in unleashing innovation from data?
Leadership is crucial for promoting a data-driven culture.
p.37
Data-Driven Decision Making
How can context influence decision making?
It provides relevant background and situational factors that affect choices.
p.4
Digital Transformation and Its Impact
What tools have been widely adopted for remote working?
Zoom and collaboration tools.
p.15
Digital Transformation and Its Impact
What shift has occurred in software systems due to Cloud & SaaS?
It has changed the evolution and economics of renting vs owning software.
p.4
Digital Transformation and Its Impact
What government services have moved online?
Driver license and domestic helper contracts.
p.6
Data Literacy Imperative
What does digitalization generate in terms of data?
Increased data on user behavior, preferences, and interactions.
p.4
Digital Transformation and Its Impact
What shift has occurred in online education?
Schools and universities have shifted to e-learning platforms.
p.15
Digital Transformation and Its Impact
How have ERP and CRM systems impacted business operations?
They have automated the back office and front office.
p.15
Digital Transformation and Its Impact
What is the new focus in value creation for companies?
The shift is from 'how do we make money' to 'how do we create value'.
p.15
Digital Transformation and Its Impact
What are examples of intangible assets that contribute to firm valuation?
Brand value, intellectual property (IP), goodwill, and data assets.
p.4
Digital Transformation and Its Impact
How does transaction data improve digital payments?
It improves fraud detection and streamlines payment processes.
p.4
Digital Transformation and Its Impact
How do learning metrics benefit online education?
They inform course content and delivery methods.
