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Finding the Future in the Past
This article originally appeared in the Bentley Magazine.
Data is a prime economic asset, says Asif Hasan. His two-year-old company, co-founded with Vivek Khemani and Ritesh Patel, helps others uncover the potential of their data to outperform competitors.
“Any interaction we have with our environment is now being recorded somewhere and preserved in databases,” says the alumnus, whose MBA studies focused on technology and operations management. “We’re leaving breadcrumbs behind. If someone studies these, they will find patterns that can be harnessed to improve their business.”
Before Quantiphi, Hasan worked at Philips Healthcare, where his roles included starting a global analytics function.
“Our job was to anticipate when medical equipment would fail, what would cause the failure, and what components would be needed to fix it,” he says. Making those predictions for a business with global scope required Hasan’s team to find meaningful patterns in a vast array of data. “That’s when I understood what the power of data can be.”
Today, Quantiphi has more than 50 data science professionals split between offices in Marlborough, Mass., and Mumbai, India. Their clients cross industries such as health care, insurance, digital advertising, high-tech manufacturing and travel.
“We help them build better digital products and find high-value customers,” he says. “We also improve operating efficiencies and drive down risk in their business.”
One recent Quantiphi partnership, with the Lynn and North Shore community health centers in Greater Boston, involved launching a population health management solution.
"It helps the centers anticipate high-risk patients and work proactively to address their needs,” says Hasan. “They’re able to improve health outcomes while reducing costs.”
Read about other Bentley alumni using big data in their careers.
More from Asif Hasan:
Why did you choose Bentley for your MBA?
I read an article in Forbes magazine that talked about the program. It was part technology and part management, with a focus on the digital transformation. I came from a finance background, so technology wasn't something I was very familiar with. The MBA gave me the technology perspective.
Also, about half the class was international. I saw how people come from different angles, different perspectives — and I learned how to make the best use of those different perspectives to work together for better solutions.
Why focus on big data at Quantiphi?
We believe that data is an economic asset. This world is cranking out zeros and ones at a staggering pace, and any interaction we have with our environment is now being recorded somewhere and preserved in databases. We're leaving breadcrumbs behind. If someone wanted to study these breadcrumbs, they can get an idea of what we like. Organizations with the power to harness and learn from [data] are going to out perform their competition.
How does Quantiphi help?
We help companies build better digital products use them to find repeat customers. We also improve operating efficiencies and drive down risk in their business.
Why is big data so important?
History repeats itself. If you look at history in a very high definition, you can find patterns that are going to repeat. You find certain basis of when they repeat and when they don't. If you want to learn from the past, data is the best way to do it.
What's next for big data?
There's been a lot of investment in technology — maybe even over-investment in technology. That enables organizations to store a lot of data, but they haven't yet figured out where in their business data science can have the most staggering impact. What’s next is to figure this out. How do you need to organize and shape the data? What questions do you need to ask? We'd just getting started in this journey.
Alison Davis-Blake, the former business school dean at the Universities of Michigan and Minnesota, was inaugurated as the eighth president of Bentley University in a ceremony attended by students, faculty, staff, alumni and other members of the extended Bentley community.