Mike Capone, CEO of data analytics platform Qlik, had an urgent message for business students: “Get comfortable with working with data.”
Pointing to a growing number of a companies and industries leveraging data to carve out efficiencies and uncover opportunities in the market, Capone said "data analytics is indelibly transforming the way companies conduct business".
“There is no future job that isn’t going to rely on data and analytics to get the job done,” said Capone, who served as the first guest speaker of the 2019-2020 MBA Executive Speaker Series. “Being comfortable working with data, interpreting information is as important to this workforce today, as reading and writing was back in the days of the Industrial Revolution.”
Capone built his career working with high-growth software as a service (SaaS) companies, including chief operating office of publicly-traded Medidata Solutions where he helped the company accelerate its strategy to provide a comprehensive cloud platform that leverages data and analytics to transform clinical trials in the Healthcare, Life Sciences and Pharma markets.
Prior to Medidata, Mike held senior leadership positions at ADP including Corporate Vice President of Product Development, CIO, and SVP & General Manager of ADP’s global outsourcing business. He was also head of product development and technology operations for ADP, one of the world’s largest B2B cloud services providers.
To demonstrate the potential when data is harnessed, Capone described an example of how analytics had changed the way business was done for a trucking company, whose operations can be significantly impacted by weather, traffic and poor delivery information. Drivers were provided with tablets loaded with data that enabled them to check publicly available data such as maps, weather, and historical delivery data, in addition to privately held consumer trend data purchased by the company. As a result, drivers experienced fewer challenges while on the road and the company was able to save $20 million.
The case highlights the transformative power of data when properly leveraged, Capone said. “The most interesting conclusions can be drawn when you bring different sources of data together.”
Looking to the future, while some roles will be replaced by data-fueled artificial intelligence, Capone predicts most industries will not be affected on a large-scale basis.
“There are going to be changes in the economy but it’s not going to be wholesale,” he said. “AI is actually making analytics more human, not less. We’re using analytics to make you all better.”
For more information on the Feliciano School of Business MBA program, please visit business.montclair.edu/mba