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Deloitte analytics: Uncommon insights

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Although data analysis is not always considered a strategic priority, failing to derive key business insights from data can result in lost revenue, lost confidence, compliance problems, competitive …

Although data analysis is not always considered a strategic priority, failing to derive key business insights from data can result in lost revenue, lost confidence, compliance problems, competitive pressures, customer dissatisfaction and more.

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  • 1. Deloitte AnalyticsUncommon insights
  • 2. ContentsThe dangers of data mismanagement ....................2Making the business case .......................................3How we can help:Deep industry business knowledge .........................4
  • 3. T o gain market insight and drive business strategy, organizations need the ability tocontinuously explore and investigate past businessperformance and anticipate change. Deloitte Analyticscan help. Leveraging deep industry knowledge andproven skills, we extensively use data, statistical andquantitative analysis, explanatory and predictivemodeling and fact-based management to driveintegrated decision-making. This positions you tomake better decisions and take the right actions toimprove key business metrics and outcomes. Deloitte Analytics – Uncommon insights 1
  • 4. The dangers of data mismanagement Although data analysis is not always considered a strategic priority, failing to derive key business insights from data can result in lost revenue, lost confidence, compliance problems, competitive pressures, customer dissatisfaction and more. In the face of these challenges, analytics is no longer a luxury – it’s a necessity. This is especially true when you consider that compromised if companies cannot produce companies have more information than they can information that is relevant, timely, accurate and handle. Mountains of it. Turning that information insightful. You need the ability to: into insight can seem impossible. That may explain why so many business decisions are based on • Use information to drive innovation and intuition and gut feeling. Although experience plays competitive advantage a role, organizational decision-making is • Access information tools that can help you measure and improve enterprise-wide performance • Identify insights from your data that can drive more value from business and IT investments • Leverage information to manage risk, improve compliance, and drive business outcomes Although analytics isn’t a new concept, it is often applied only in targeted areas of the business. To enable your organization to base decisions on fact-based analysis and scientific thinking, you need to push analytic capabilities deeper into the organization – from the C-suite to the front lines. That takes a new level of focus and dexterity from organizations that are already grappling with plenty of other challenges.2 Deloitte Analytics – Uncommon insights
  • 5. Making the business caseComprehensive analytic initiatives are hard work – so it’s a goodidea to get clear about what kinds of improvements you can expect.With effective implementation, you can:Enhance business performance Improve complianceand outcomes If your systems and data are suspect, yourYou can’t manage your business effectively unless decisions and reports will likely be too. Executivesyou know what’s really going on. Deloitte Analytics bear higher levels of personal responsibility for thecan help you identify performance improvement accuracy and reliability of their organizations’opportunities, and action them at the source. financials. Financial restatements are becoming more costly, and compliance demands fromStrengthen innovation external regulators and oversight organizationsand competitive advantage are on the rise. Deloitte Analytics can help improveDeloitte Analytics can deliver insights to help you the reliability of a company’s reporting bybetter understand your customers and markets – implementing a rigorous and well-tested set ofand serve them more effectively. standard tools and techniques for collecting and analyzing data.Increase efficiency and lower costsDeloitte Analytics can help companies pinpointinefficiencies and opportunities for improvement.Identify business process changes that allow you to Case studystreamline operations and anticipate market shifts. Meeting customer needsDiscover hidden insights A major bank wanted to develop strongMake sense of the complex global business capabilities in the area of marketing andenvironment to help managers uncover hidden customer analytics to better understandpatterns that may otherwise go undetected. how to meet its customers’ needs. By introducing a range of sophisticatedLower costs analytical techniques, the companyDeloitte Analytics can help companies pinpoint identified which of its 10 million customersinefficiencies and opportunities for improvement. had a higher propensity to buy products based on the bank’s marketing effort. Deloitte Analytics – Uncommon insights 3
  • 6. How we can help: Deep industry business knowledge Successful business analytics requires three powerful engines: deep sector knowledge, broad functional capabilities and a high degree of technical sophistication. Deloitte brings a big-picture approach, combining each of these strengths to provide unmatched services. Issues Applied Facts What business problem analytics Inf What data can be leveraged o are you trying to solve? Go rm to understand the business ve r and improve performance? at Archite n ion ct | In | Predict | mbed | Dis s er h t cov ma Analytic insig Data nagement Business management tegrate E Advanced results analytics Actions Understanding How do we look to the future Mo nito r | Report | Recomm end n What is currently happening Pe and build analytic insights directly rfor atio or has happened related m ance optimiz into business processes? to our business and why? What should we do about it? Performance Business management intelligence Enterprise data management empowers Performance management technology helps companies to develop and implement architectures, companies define and implement streamlined policies and practices to manage data as an enterprise-wide systems and processes for enterprise asset, across the data lifecycle, from budgeting and planning, close and consolidation, creation to deletion. monitoring KPIs, and management and statutory reporting. Business intelligence & data warehousing can help you implement the processes and Advanced analytics involves the use of modern applications required to convert high-quality data data mining, pattern matching, data visualization into high-quality insight. and predictive modeling tools to produce analyses and algorithms that help businesses make better decisions. With this foresight, analytics can help you determine which events may have the most impact on the enterprise as a whole.4 Deloitte Analytics – Uncommon insights
  • 7. By combining deep technology experience withpractical business strategy, we can help youconnect your analytic initiatives with your overallbusiness goals.The value derived from Deloitte Analytics willdepend on your ability to build a strong foundation Case studiesin corporate culture, technology and businessprocesses. As organizations mature through the Uncovering fraudulent activityanalytics lifecycle, they gain greater ability to A lottery and gaming corporation wanted toleverage this foundation to gain insight to make explore the possibility of inappropriatemore informed decisions. Depending on your activities occurring through its retailcurrent capabilities, you may benefit from focusing distribution channels, as well as potentialon one or more of these areas: fraud. With corporate insiders handling large prize payouts, the organization needed to validate the existence of various Traditional delivery models typologies of inappropriate activity, Advisory analytics Transformation including potential frauds being perpetrated analytics both internally and against the lottery- Use of analytics to support business Design and implement buying public. As a result of a data analytic operations and enterprise solutions review, the company embarked on a strategy transformation project that now enables them to proactively detect fraud. Hosting delivery models Quantifying overbilling Managed analytics Subscription To reduce potential losses, a public sector analytics agency wanted to understand the risks Outsourced analytics services and platform Subscription based related to partner overbilling. Through a analytics that provide data analytics risk review, rule-based and analytical scoring and statistical threshold testing was used to results on periodic identify billing anomalies. As a result, the basis agency was able to estimate the potential and actual losses incurred due to inappropriate billing. Deloitte Analytics – Uncommon insights 5
  • 8. Turning data into insight6 Deloitte Analytics – Uncommon insights
  • 9. With experienced industry specialists, Deloitte Analytics can helpyou identify which questions matter most and where to find theanswers. Whether you need to look backward to evaluate pastperformance or look forward to engage in scenario planning orpredictive modeling, you need proven strategies for turning yourdata into valuable insight. Deloitte Analyticscan help. By delivering uncommon insights,we help you see beyond the data andprovide you with what you need toknow to improve your operation’sperformance and hone yourcompetitive edge. Deloitte Analytics – Uncommon insights 7
  • 10. Contacts Adelaide Israelian Raymond Pineda 514-390-1622 416-643-8945 aisraelian@deloitte.ca rpineda@deloitte.ca Darren James David Stewart 416-601-6567 416-775-7484 djames@deloitte.ca davstewart@deloitte.ca For more information, please visit: www.deloitte.com/us/deloitteanalytics8 Deloitte Analytics – Uncommon insights
  • 11. Deloitte Analytics – Uncommon insights 9
  • 12. www.deloitte.caDeloitte, one of Canada’s leading professional services firms, provides audit, tax, consulting, and financialadvisory services through more than 7,600 people in 57 offices. Deloitte operates in Québec as Samson Bélair/Deloitte & Touche s.e.n.c.r.l. Deloitte & Touche LLP, an Ontario Limited Liability Partnership, is the Canadianmember firm of Deloitte Touche Tohmatsu Limited.Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited byguarantee, and its network of member firms, each of which is a legally separate and independent entity. Pleasesee www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche TohmatsuLimited and its member firms.© Deloitte & Touche LLP and affiliated entities.Designed and produced by National Design Studio, Canada 11-2281