Analytical thinking 6 - May 2012


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Analytical Thinking is a fortnightly newsletter from the UK Business Analytics team.

The purpose of the newsletter is to raise awareness about why analytics is a hot topic at the moment, where is analytics being referenced in the press and in what ways are organisations using analytics.

Business Analytics (Operational Research) is part of the Digital Transformation team in Capgemini Consulting UK

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Analytical thinking 6 - May 2012

  1. 1. From: Skornik, CharlotteSent: 24 May 2012 12:12To: Skornik, CharlotteSubject: Analytical Thinking 6 - May 2012 Analytical ThinkingAnalytical Thinking 6 – ANewsletter from the UK Business May 2012Analytics Team Introduction Introduction Welcome to the 6th edition of Analytical Thinking – a newsletter from the UK Business Analytics community providing snippets of insight from around the world on what people are saying about our capability over the last 2 weeks. In the last fortnight, we saw that Big Data is really a hot topic in the analytics space, as we have four articles related to it. Within this edition, you will also read about how big data is meaningless without analytics. back to top Customer Analytics Customer Analytics Gone Wrong Ten Common Mistakes To Avoid When Designing Customer Analytics Models The potential that customer analytics models hold within them are extensive for the companies that choose to utilize them to better their marketing and sales activities. But even best-in-class companies get it wrong sometimes by making mistakes in how they design their models, and in how they utilize them once they have been designed. This article presents ten mistakes which can occur if customer analytics models are badly designed. See article Big Data
  2. 2. Big Data – An Issue For the Financial Big Data MarketServices What Are the Key Drivers Behind the Big 100% of UK Banks See Big Data Market? Data As A Problem What is Big Data?” and “What This article argues that Big data is are the drivers behind the Big increasingly being seen as a Data market?” While most significant problem by the UKs definitions of Big Data focus investment banks. Investment on the new forms of banks are indicating that the unstructured data flowing volume of data is the main challenge to IT through businesses with new levels of “volume, departments, coupled with the need for real time velocity, variety, and complexity”, Big Data’s analytics. definition can be summarized with this equation: Big Data = Transactions + See article Interactions + Observations With this definition, you will find out in this article what the 7 keys drivers behind the big data market are. See articleThe Age of Big Data Supply Chain AnalyticsBig Data Is Worth Nothing Without Big Can Your Business Survive the Butterfly Analytics Effect? No industry is untouched by big Gartner predicts “Supplier risk data, which is notably will continue to be a major transforming the way social focus, and companies will look networks work today. Many to technology for a scalable organizations are rich in data but risk assessment and poor in insight. Thats where big management solution.” analytics comes in. This article explains that the (Predicts 2012: Supply Chain Predictions: key factor that will determine success for Talent, Risk and Analytics Dominate, 18 Nov companies in this age is not simply big data, but 2011). In today’s complex business analytics. Or, put simply, the analysis that big environment, trading relationships are globalscience brings to the table makes big data relevant and interlinked. This article shows today’s big - combining with big data to create big challenge: how to juggle massive amounts of opportunities in three significant ways: real-time business information and constant changes in relevant content, data visualization, and predictive real time? analytics. See article See articleMiscellaneousActionable AnalyticsHow To Convert Thought Into Action In today’s business world, probably not a single business function is questioning the need for analytics. Yet, as it often happens in an evolving discipline, companies that are investing in analytics often find that the businesses do not consume the outputs. This article explains that as companies realize that one of the many factors that separate failure from success is their ability to effectively use analytics to make better decisions, it becomes necessary for the key stakeholders to ensure the rightset of investments are made on the process, technology and people dimensions to bridge the gapbetween the creation and consumption of analytics.See articleFootnote
  3. 3. Figure It Out Blog Have you visited the Figure it out blog yet? back to top Feedback We hope that you have enjoyed reading this sixth edition of Analytical Thinking and hope that it has provided you with a good insight into some of the value that is currently being realised through Business Analytics solutions. If you would like to find out more about our services and propositions then please contact Nigel Lewis or Jon Chadwick. If you have any suggestions on how we can improve this newsletter or if you have received it via a colleague and would like to subscribe then please contact Charlotte Skornik. If you spot an article that is Business Analytics related then wed like to know about it, please submit it to Charlotte Skornik, and it may appear in the next edition of Analytical Thinking! back to top The information contained in this newsletter is proprietary and confidential. It is for Capgemini internal use only. Copyright © 2012. All rights reserved by Capgemini. subscribe to this newsletterThis is a fortnightly newsletter, if you don’t want to receive it anymore, please let me know.Regards,Charlotte SkornikOperational Researchcharlotte.skornik@capgemini.comTel: +44 (0) 870 904 5666 - Mob: +44 (0) 789 115 Holborn Viaduct - London - EC1N 2PBConnect with us:Capgemini Consulting is the strategy and transformation consulting brand of Capgemini Group