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Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity
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Jaime Fitzgerald on Data, Analytics, + Social Good - The Challenges, The Opportunity

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Jaime Fitzgerald spoke about the the challenges and importance of applying private sector methods to unlock more social benefits from the world's data.

Jaime Fitzgerald spoke about the the challenges and importance of applying private sector methods to unlock more social benefits from the world's data.

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  • 1. Turning Big Data into Social GoodThe Challenge, The OpportunityJaime FitzgeraldDecember 6, 2011 – Turin, Italy Architects of Fact-Based Decisions™
  • 2. Introduction Jaime Fitzgerald, Role: Founder @ Fitzgerald Analytics • Find & unlock opportunities Mission: via data, technology, people, + processes. Principles: “Begin with the End in Mind” (Covey) “Quality is Free” (McGregor)Turning Data to DollarsTM : A Practical Approach 2
  • 3. From Data to Dollars… “A journey of a thousand miles….” Fitzgerald Analytics: Converting Data to Dollars™ Better Data Better Analysis Better ResultsTurning Data to DollarsTM : A Practical Approach 3
  • 4. The Gap vs. Potential 1. So Much “Buzz” about the Potential of Analytics  Best-selling books on Analytics (Competing on Analytics, Supercrunchers, etc.)  New efforts (business units, teams, roles, initiatives) 2. When Analytics Works, the Impact is Buzz-Worthy!  Selected firms have made analytics a source of competitive advantage  It happens every day… just not as broadly as would be ideal 1 2 3 4 Right Focus Right Method Execution Results! Let’s discuss the keys to increasing your odds of success…Turning Data to DollarsTM : A Practical Approach 4
  • 5. Why So Much Untapped Potential? Long Term VisionTurning Data to DollarsTM : A Practical Approach 5
  • 6. The #1 Threat to Results … Complexity 2. Decisions 1. Business Models + Processes Analytic Initiatives 4. Tech Tools, 3. Analysis Options Platforms, Plug-ins, Deployment Options We need a way to simplify this complexity without losing the potentialTurning Data to DollarsTM : A Practical Approach 6
  • 7. Other Root Causes of “Analytic Underperformance” While complexity is the largest impediment to results in analytics, there are several other challenges worth mentioning… 1 Cross-Functional Collaboration 2 The good news is… Communication Challenges …managing complexity 3 makes all these other Technology and problems easier to manage Data Management Barriers also… 4 People: Talent, Skills, Learning, Team EffectivenessTurning Data to DollarsTM : A Practical Approach 7
  • 8. What if Steven Covey Were An Analyst?Turning Data to DollarsTM : A Practical Approach 8
  • 9. Three Simplifying Concepts To “begin with the business goal in mind,” I recommend three concepts Term Definition 1. Point of Opportunity  An opportunity for improvement within YOUR business model  Defined because it impacts key drivers of your results 2. Causal Clarity  Clear Definition of key drivers, cause + effect in Cause Effect your business model, business unit, etc.  Easy to Explain to others, preferably visually 3. Causal Model  A visual representation of “what drives results” in Price Revenue your business model Transactions  Create this, and you have achieved “Causal Clarity”Turning Data to DollarsTM : A Practical Approach 9
  • 10. Causal Models: A Simple “Base Case” Each business model has an inherent “causal model,” but the “core branches” are similar Example: Drivers of Net Profit Revenue less Your Has Cost of Revenue Gross Profit Business Operating Costs Model less Net Profit Marketing Other Costs Overhead OtherTurning Data to DollarsTM : A Practical Approach 10
  • 11. Example: A Point of Opportunity Here is an opportunity to enhance ROI on Marketing + Sales efforts: Point of Opportunity: “Efficiency of New Client Acquisition” Key Driver / KPI: Acquisition Cost per New Client Formula: [spending on new client marketing]/[# New Clients) Transactions Price per per Client Transaction X # of Clients Volume Sales and MarketingTurning Data to DollarsTM : A Practical Approach 11
  • 12. Planning Your Analysis Planning starts with the goal, the “point of opportunity” Your Point of Opportunity (Decision or Process) Translates to Insights or Information Required Which drives Analysis Methods Required to Create this Information Allowing definition of Required Data And selection of the right Tools, Platforms, Technology, People, and ProcessesTurning Data to DollarsTM : A Practical Approach 12
  • 13. Summary of Key Takeaways We hope you will benefit from the concepts shared today For All 1. Begin Your 2. Define + 3. Identify 4. Define the 5. Keep Attendees Business Agree on Points of info needed analysis as Model the Causal Opp. to unlock simple as Model the opp. possible… Tips By Executives Leadership Role:  Establish “causal clarity” visually so that everyone understands  Encourage teams to use this context to prioritize and target effort  Expect recommendations to be justified by their impact on key drivers Business Professionals Technology Professionals  Identify points of opportunity  Insist upon understanding the before investing time in analytic business context and causal logic details of requests for analytic systems and effortTurning Data to DollarsTM : A Practical Approach 13
  • 14. Thank You! For more information and comments, you may reach me through the following: Email jfitzgerald@fitzgerald-analytics.com Twitter jaimefitzgerald Phone 1-917-846-3759 Website www.fitzgerald-analytics.comTurning Data to DollarsTM : A Practical Approach 14
  • 15. Let’s Change the World Together (for the better!) Email jfitzgerald@fitzgerald-analytics.com Twitter @jaimefitzgerald @fitzanalytics @data2dollars Phone 1-917-846-3759 www.fitzgerald-analytics.comTurning Data to DollarsTM : A Practical Approach 15

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