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Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
Advance analyticsandinequalitysxswfn
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Advance analyticsandinequalitysxswfn

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Applying advanced analytics to eliminating inequality

Applying advanced analytics to eliminating inequality

Published in: Data & Analytics
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  1. APPLYING ADVANCED ANALYTICS TO ELIMINATING INEQUALITY JAMES C. SESIL
  2. ADVANCED ANALYTICS AND INEQUALITY Inequality is one of the greatest challenges of our time The wealthiest 85 control same assets as poorest 3.5 billion Women earn between 10% and 40% less than men even after controlling for labor market participation, hours worked and educational and work experience
  3. ADVANCED ANALYTICS AND INEQUALITY Inequality is shown to lead to social unrest, economic stagnation and under realization of human capacity Virtually every revolution was fueled by inequality Fortune 500 2 trillion in cash reserves – while real wages have been mostly flat over the last 30 years – the spending power of consumers who drive 70% of US economic activity is declining
  4. ADVANCED ANALYTICS AND INEQUALITY
  5. ADVANCED ANALYTICS AND INEQUALITY Advanced analytics – a combination of computing capabilities, structured and unstructured data sources, more accurate and complete predictive models Defined by Gartner, Inc.: “An analysis of structured and content (such as text, images, video, voice) data using sophisticated quantitative methods (such as statistics, descriptive and predictive data mining, simulation and optimization) to product insights that traditional approaches to BI query and reporting are unlikely to discover.”
  6. ADVANCED ANALYTICS AND INEQUALITY Advanced analytics has been used extensively in Marketing, Finance, Health Care and Fraud Detection – Also has scope to help solve social problems Biases can be scrubbed from the decision making process using tools from advanced analytics thus making decisions much more accurate and equitable – helping to eliminate discrimination and bias from all selection and promotion decisions. Impact and bottom line contribution can be better measured and rewarded using these tools – will serve to reward much more in line with actual contribution. Ultimately, resulting in a more accurate and just dispersion of profits to those responsible for creating them – middle class and low wage earners.
  7. ADVANCED ANALYTICS AND INEQUALITY This Matters – Because it matters to us There is an evolutionary basis for equality and reciprocity Cooperative behaviors as important as natural selection There is a productivity premium associated with a fair and just workplace and society Equality is not only the “right” thing to do it also produces the greatest efficiencies We are hardwired to want to be treated fairly – organizations and societies that make decisions based on facts and merit are more productive and successful
  8. ADVANCED ANALYTICS AND INEQUALITY What tools from advanced analytics can be used to eliminate inequality of opportunity? Combining new and developing artificial intelligence technologies along with insights from behavioral psychology, behavioral economics and neuroscience we can much more accurately predict who is likely to perform in a specific job or task  This will serve to scrub extraneous factors from the selection decision and provide a laser focus on performance  An example would be – SAPs “Autism to Work” program. By focusing on the task and the job – those on the autism spectrum have been shown to be exceptionally good employees
  9. ADVANCED ANALYTICS AND INEQUALITY What tools from advanced analytics can be used to eliminate income inequality?  Using deep analytical scorecards we can develop a much tighter line of sight connection between performance and reward This will reward much more in line with actual contribution Examples would be service organizations who reward frontline employees substantially above market (e.g. John Lewis Partnership, Wholefoods, Starbucks).
  10. ADVANCED ANALYTICS AND INEQUALITY Advanced analytics can be used for a lot more then just getting us to buy more stuff – these tools and techniques can be used to make the world a much more equitable place
  11. ADVANCED ANALYTICS AND INEQUALITY http://www.americanprogress.org/issues/women/report/2014/03/07/85457/fact-sheet-the-womens-leadership-gap/ Sallam, R.L. and Clearley, D. W. (February 16, 2012). “Advanced Analytics: Predictive, Collaborative and Pervasive.” Gartner Research Note. Gartner, Inc. http://time.com/105292/gender-wage-gap/ http://www.ft.com/intl/cms/s/2/e1f343ca-e281-11e3-89fd-00144feabdc0.html#axzz32eCEJe6C http://time.com/1420/worlds-85-wealthiest-people-as-rich-as-3-5-billion-poorest/ http://www.frbsf.org/education/teacher-resources/economics-in-person/rising-us-wage-inequality-middle-class http://www.ftpress.com/authors/bio/f017bb1f-6417-436d-8264-1e76ae26b61c http://www.ftpress.com/articles/article.aspx?p=2137517

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