Powerlytics started on two distinct ends that became one.
On the one end, it started with academic research and grew into consulting with key government agencies. From there, we developed a deep understanding of the poor quality of data that drives many of today’s financial and market-based decisions. A passion to create something more reliable, more accurate and more comprehensive was born, and with it the fundamental idea behind Powerlytics.
In-Depth Knowledge of the Financial Services Industry
On the other end, Powerlytics came about due to our in-depth knowledge of the financial services industry, and experience creating knowledge-based applications and processes globally for one of the largest accounting and consulting firms in the world – KPMG. This gave us a deep understanding of how to measure, monitor and control risk. We also came to understand that much of the data out there is incomplete, inaccurate and of poor quality – causing frustration and an inability to make the best business decisions. These findings, coupled with our passion to build and create high performance teams that solve some of the most critical data issues, came together to create the perfect storm. Hence, Powerlytics was born.
Dr. Jose Plehn-Dujowich and Kevin Sheetz created Powerlytics to help solve the critical issues that have made it so difficult for professionals to conduct reliable, granular and comprehensive business comparisons – as well as industry and geography-based economic analysis. These issues have plagued traditional data collection and data aggregation companies: lack of critical mass, lack of consistency, and lack of quality control, to name a few.
All other data companies have primarily used either primary or secondary surveys to collect business and consumer financial data. Survey-based data faces the common problems of inconsistent financial line item classification, leading to “apples and oranges” comparisons. It also does not allow for effective quality control, because there’s no source of truth to compare it to and a lack of comprehensive coverage.