Squeezing more insights from Big Data_Fractal Analytics_IBI Summit 2012
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Squeezing more insights from Big Data_Fractal Analytics_IBI Summit 2012

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It takes more than buying Big Data tools and hiring analysts to get ROI returns from Big Data. Learn how to get your organization moving toward institutionalizing analytics using business diagnostics ...

It takes more than buying Big Data tools and hiring analysts to get ROI returns from Big Data. Learn how to get your organization moving toward institutionalizing analytics using business diagnostics to find the fastest path to success.

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    Squeezing more insights from Big Data_Fractal Analytics_IBI Summit 2012 Squeezing more insights from Big Data_Fractal Analytics_IBI Summit 2012 Presentation Transcript

    • ® Squeezing More Insights from Big Data Deepak Ramanathan Fractal Analytics Inc. IBI Summit - June 6, 2012 Kissimmee, FLConfidential | Copyright © 2012 Fractal Analytics, Inc.
    • ®Key points 1. Winners are positioning to leverage Big Data and Analytics 2. What is preventing success? 3. Stages of developing a data-driven culture 4. How to get started?Confidential | Copyright © 2012 Fractal Analytics, Inc. 2
    • ® We all know companies using analytics win more… Study 1*: Predictive Analytics = better performance Use analytics to guide Use analytics for day to future strategies day operations Top 45% 53% Performers Bottom 20% 27% Performers Study 2^: Predictive Analytics improves ROI of BI application by ~ 60% 145% 89% Only BI BI & Predictive Analytics* IBM Survey was conducted on 3,000 executives, managers and analysts working across more than 30 industries and 100 countries where respondents were asked to assesstheir organization’s competitive position^ IDC white paper “The Financial Impact of Business Analytics” Confidential | Copyright © 2012 Fractal Analytics, Inc.
    • ®But the concept of BIG DATA is emerging… # of “BIG DATA” articles online 63,800 25,800 25,300 2,340 2,130 “H-P said it will reallocate the 2008 2009 2010 2011 YTD 2012 $3 billion to $3.5 billion savings Source: Google NEWS each year from the 27,000 job cuts planned between now 16% 107% and 2014 to Big Data 33% analytics, cloud computing 40% and security infrastructure.” % denotes change in stock price from list price 7% * Data approximated as of May 25 2012Confidential | Copyright © 2012 Fractal Analytics, Inc. 4
    • …This has the potential for disrupting the notion of ®analytics in your industry Telematics in Insurance Industry The Car Premium Type of Whose policy DrivingConfidential | Copyright © 2012 Fractal Analytics, Inc. 5
    • Today, analytics is not set-up to cater to ‘BIG’ ®demands EVP Sales TeamAnalytics 1 Marketing Team 5 6 20 12 Product Development  Reporting strength  Cost centre  Hidden cost of service  Reactive Confidential | Copyright © 2012 Fractal Analytics, Inc. 6
    • ® …which will lead to implementation challenges Q: Top business challenges to delivering a successful big data analytics solution?Source: IDC and Computerworld BI and Analytics Survey Research Group IT Survey, 2012, Confidential | Copyright © 2012 Fractal Analytics, Inc. 7
    • ®Overcoming analytics barriers – history lesson Reference; http://en.wikipedia.org/wiki/John_Snow_(physician)Confidential | Copyright © 2012 Fractal Analytics, Inc. 8
    • ® Key phases of analytics adoption Focus M0 M3 M12 M24 M36 Steady Vision Pilot Growth State 1. Identify current 1. Choosing a 1. Ramping Up 1. Talent retention gaps PilotTop 3 Considerations 2. Project 2. Develop SLAs 2. Roadmap for 2. Defining planning execution Success Factor 3. Focus on 3. Maintain Innovation 3. Talent 3. Implement and quality levels acquisition measure success Confidential | Copyright © 2012 Fractal Analytics, Inc. 9
    • ® Business diagnostic helps you layout your vision Assess status quo:  Data infrastructure  Analytics process Business diagnostic helps:  Understand current gaps  Prioritize needs  Plan investments  Benchmark against best practices Growt SteadyVision Pilot h State Confidential | Copyright © 2012 Fractal Analytics, Inc. 10
    • ® …and helps to develop an execution plan  Data Quality Assessment Data Duplicity  Granularity  Analysis tools Insight  Resources, and methodologies  Quickwins  Campaign planning and execution Measure  Tools and capabilities  ROI framework  Feedback Current test and learn capabilities  Campaign, offer, design effectiveness Vision Pilot Growt Steady  Supporting tools and processes h State Confidential | Copyright © 2012 Fractal Analytics, Inc. 11
    • ® Where to start? Business Diagnostic Roadmap Week 1 Week 2 Week 3-4 Week 5 Project Kick off and Detailed Final Focus Preparation for Stakeholder Review, Analyses and Recommendations assessment meetings Assessment and Report • Obtain background • Kick-off meeting • Define “As is” • Prioritize initiatives data and • Conduct key situation • Identify quick wins documents stakeholder meetings • Define “Desired” • Align initiatives with • Prepare questions • Prepare meeting situation implementation time for stake-holders notes and obtain • Define Current and ROI Key Activities • Set-up key meetings clarifications Processes • Create final report • Send stake holders • Obtain relevant • Benchmark with with list of questions documentation industry recommendations • Extract sample data • Identify gaps and • Share best practices enhancements • List of documents • Stakeholder meeting • “As-is” document • List of quick wins and data notes with • “To Be” document • Roadmap with Deliverables • Questions for clarifications • Current process initiatives and ROI stakeholders • Sample Data documents • Recommendations • Kick-off meeting Assessment • Gaps and • All supporting deck enhancements materials Growt SteadyVision Pilot h State Confidential | Copyright © 2012 Fractal Analytics, Inc. 12
    • ® Diagnostic: Enhancement prioritization Impact on Bank 7 5 Launch New Products Spend 8 Management Cross –sell Parma 2Medium Loyalty Pgmto High 4 6 Retention MIS Dashboards 1 Management Cross Sell 3 Restructure Sales Channels 9 Revamp Bonus 12 Points Program Increase card delivery 11Low to rates Activation CampaignsMedium 10 Proactive limit management Immediate (0-6 Months) Medium (6 Months -1 Year) Long (1 Year +) Confidential | Copyright © 2012 Fractal Analytics, Inc. 13
    • ® Diagnostic: Talent acquisition framework Type of Talent Right Levels Statistician, Data expert, Business VP, Director, Mana Analyst ger, Analyst Analytics • Where in the Unit • Who is the sponsor? analytics pyramid is • How is the team going the team operating to interact with the rest in? of the organization? Right Mix Optimizing the talent acquisition budget • Is the team going to provide consulting solutions or analytical insights?Benchmark Learning• Typical Analytics Unit – 1 VP/ Director for every 2-3 manager, 1 manager for every 3-4 analyst Confidential | Copyright © 2012 Fractal Analytics, Inc. 14
    • ®Diagnostic: Organization structure Current model Future model Business Business Units Units Partner Analytics AnalyticsConsultant Unit Unit Partner Consultant Data Team Data Team Confidential | Copyright © 2012 Fractal Analytics, Inc. 15
    • ® Key points1. Winners are positioned to leverage Big Data and Analytics2. Status quo, demand creation & developing a business case are barriers to adoption3. To succeed follow the 4 phases of analytics implementation4. Diagnostic uncovers untapped potential Confidential | Copyright © 2012 Fractal Analytics, Inc. 16
    • ®Contact UsWe believe analytics is critical to deeply connect with consumers, earn customer loyalty, make better decisions toreduce waste, and ultimately improve lives.Fortune 500 companies partner with Fractal to build breakthrough analytic solutions, set up analytical centers ofexcellence, and create a culture of data driven decisioning.We solve problems, operationalize solutions to drive results, and ultimately drive change in organizations towards fact-based decisioning.We help businesses: (a) Understand, predict and influence consumer behavior; (b) Improve marketing, pricing, supplychain, risk and claims management; (c) Harmonize data, visualize information, build dashboards and forecastbusiness performance. www.fractalanalytics.com Deepak Ramanathan, Vice President United States | United Kingdom | Singapore | India | Dubai 323.719.4165 deepakr@fractalanalytics.com