Business Analytics

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Business intelligence systems are also unable to deal with market volatiles. Infosys' business analytics offerings provide the processes, tools and expertise to extract the most from information......

Business intelligence systems are also unable to deal with market volatiles. Infosys' business analytics offerings provide the processes, tools and expertise to extract the most from information investments description.

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  • 1. View Point Business Analytics Tomorrow’s analytics that will change the way we make decisions - Arindam Banerji, Parashar Borkotoky Introduction Enterprises have been extremely patient with their business intelligence (BI) investments over the years. But, two things have changed, Volatility of markets and the need to manage a myriad of data sources along with huge amounts of data means that decision-making has to move beyond gut feel. Second - with a large number of BI initiatives failing to meet stated objectives within reasonable RoI cycles, decision making capabilities must be made available to a large set of users in quick time with investments that are user-centric and not necessarily just focused on scale. Third, organizations today are not satisfied with traditional reporting models that rely on historical data and answer ‘what happened?’ They are increasingly wanting to know: • What will happen next? • What’s the best that can happen? • What if these trends continue? Finally, the science has changed – Hadoop, Pregel are not the same in their science as traditional OLAP tools – the business decisions they support have also changed. This sea-shift from traditional BI, which we waguely term as Business Analytics, is going to shape how decisions are made and attract significant IT investments. www.infosys.com
  • 2. What are the key trends that are shaping Business Analytics? Business Why is this Examples of metrics/ Financial Driver important? changes Impact Executives want to predict the future and not just the past. They want our Expected GDP Growth Predict the Improve revenue approaches to do through tools/ Regulatory Environment future predictability consulting, what they used to do Consumer Spend Trend through gut feel Appropriate visualization for end Expand the number of users – 8-10% of use models Improve Productivity Consumerization users use BI today of users Device enablement Disruptive Big Data, In-Memory, Analytics as a OPEX Centric business case Reduce Cost of Technologies service, Unstructured data Faster, Cheaper Functionality Initiatives Improve speed and Transformational BI Transformation like ERP Business Analytics initiatives at accuracy of decision Transformation – Concept of Changes corporate levels -making at highest Information ERP levels Accuracy of Data Data Foundation Enable bottom-line cost savings Decrease costs Redundancy of DataWhat are the key gaps in today’s business intelligence systems?Today’s business intelligence systems are adept at gathering, storing, analyzing, and providing access to historical data. However, they oftenfall short in looking at the future – they’re quite poor in ensuring that decision makers can deal with volatility in their operating businesses andmarkets. Key gaps include: • Unable to predict key business metrics with reasonable amount of accuracy – volatility in markets, external factors not available in historical data • Lack of industry specific reasoning and decision making models – especially incorporation of functional and sub-vertical specific decision scenarios/algorithms • Lack of deep, yet contextualized visualization that can make use of BI, pervasive across the enterprise regardless of the device it is served upon • Lack of a unified data foundation where there is absolute trust in the quality of data – especially the ability to seamlessly integrate the right data from both structured and unstructured sources • Unable to find statistical relationships between data that can provide strategic insights – co-relation between datasets that can lead to insights • Inability to map disruptive technologies such as big data or in-memory computing into the right kind of decision making tools2 | Infosys – View Point
  • 3. The Infosys Business Analytics offeringInfosys’ is creating a business analytics offering that will give you the processes, tools and expertise to extract the most out of your informationinvestments.The offerings combine deep domain understanding of business scenarios with advanced technology and analytical techniques to enable quicktime to market at affordable price.The offering will consist of these components: • Turnkey Offerings that can be used to manage business metrics and tied to business outcomes e.g Forecasting accuracy • Domain content for key business scenarios like Vendor performance management • A seamless platform infrastructure with pre-built stack for decision making, analysis and data management. • Surround services like Knowledge services that are required to manage the business outcomeA Business analytics scenarioLet’s consider the following scenario around Vendor performance management which is typical for manufacturing companies. BUSINESS DRIVER CHALLENGES • Increased outsourcing and reliance on suppliers • Increased complexity in managing suppliers • Globalization of business and of supply chains • Continuous Merger and Acquisitions • Fragmented supplier data across multiple • Ever-changing Industry and government regulations disconnected purchasing systems • Increased uncertainty and unstable supply market • Increased risk of supply disruptions • Improve Profitability • Monitor and reduce sourcing costs Infosys – View Point | 3
  • 4. Infosys approachThe Infosys business analytics approach to such a problem will entail looking at both historical data analysis as well as predictive data analysissuch as early warning systems. Infosys approach (Illustrative)An effective business analytics approach for Vendor management would involve looking at the information from multiple perspectives: Historical What-if analysis Prediction Insights E.g. analysis of quality E.g. Ability to model Ability to estimate the and effectiveness of the key levers that number of defects suppliers impact vendor costs based on both internal and external factors4 | Infosys – View Point
  • 5. Illustrative Business Outcomes Using a well-rounded business analyticsapproach can result in quantifiable benefits such as: 5% reduction in procurement costs 3% lead time reduction 20% improvement in ontime delivery Infosys – View Point | 5
  • 6. Conclusion The promise of decision making applications, deployed in cost effective systems that derive insights from all information repositories, internal and external, structured and unstructured along with focus on not just ‘what has happened?’ but also on ‘what will happen?’ will make business insights truly beneficial to all business users– the holy grail of Business Analytics.6 | Infosys – View Point
  • 7. About the AuthorsArindam BanerjiUnit Technology Officer, Manufacturing, Infosys LimitedFor the last 18 years, Arindam has been a technologist of some visibility within the industry.As one of the visionaries and chief technologist behind E-speak at HP, Arindam in the late-nineties laid the foundation for the next generation of computing, now broadly known asweb services and Service-Oriented Architectures (SOA). He was also one of the early pioneersof semantic search.In the past, he has been the Global R&D head for Hewlett Packard’s Web-Services (then calledE–Services) product lines, Principal Scientist and Head of Strategy Research Organization forHP’s Services business, Architect at Sun Microsystems and the CTO for several tech. startupsin the Manufacturing space.At Infosys, his group focuses on providing technology strategy and advisory services toManufacturing customers globally, while providing intellectual property driven solutions inthe supply chain and engineering collaboration spaces.He has a PhD from the University of Notre Dame, over 30 publications and 6 patents.Arindam can be reached at Arindam_Banerji@infosys.comParashar BorkotokyPrincipal Architect - ManufacturingParashar has over 13 years of experience in the IT industry, and is a certified TOGAF (The OpenGroup Architecture Framework) practitioner. He has active interest in supply chain problems/solutions, information management and data quality. Parashar anchors the ManufacturingInformation Effectiveness suite of solutions within Infosys that focuses on solving businessanalytics and data foundation problems in various manufacturing industry sectors likeAutomotive, Discrete manufacturing etc. He also works closely with manufacturingenterprises to strategize technology focused business initiatives.Parashar can be reached at Parashar_Borkotoky@infosys.com Infosys – View Point | 7
  • 8. About InfosysMany of the worlds most successful organizations rely on Infosys todeliver measurable business value. Infosys provides business consulting,technology, engineering and outsourcing services to help clients in over30 countries build tomorrows enterprise.For more information, contact askus@infosys.com www.infosys.com© 2012 Infosys Limited, Bangalore, India. Infosys believes the information in this publication is accurate as of its publication date; such information is subject to change without notice. Infosys acknowledgesthe proprietary rights of the trademarks and product names of other companies mentioned in this document.