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Ovum - data is changing the game - Tim Jennings
 

Ovum - data is changing the game - Tim Jennings

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    Ovum - data is changing the game - Tim Jennings Ovum - data is changing the game - Tim Jennings Presentation Transcript

    • Industry Transformation: How Data is Changing the Game Tim Jennings, Chief Analyst & Research Fellow, Ovum IT tim.jennings@ovum.com @tjennings Nov 25, 2013 1 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
    • 2 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Agenda   Optimizing business processes  Transforming business functions  3 Changing the game Disrupting industries © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • 4 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Heerenveen performance – Season 2013/14 Source: www.squawka.com 5 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Data-driven digital transformation  Businesses and industries are becoming digital  What does this mean? 6 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Tim’s digital journey 7 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Data-driven digital transformation  Businesses and industries are becoming digital  What does this mean?  Data is at the heart of industry change  Data has become a fundamental asset to exploit  On a par with capital and human resources  Applies to all strategic models  Customer-centric  Operations-centric  Product-centric 8 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Banking example – Commonwealth Bank of Australia   Data from these tools creates deeper insight into customer needs and behaviour  Adopting analytics for fraud detection has reduced cheque fraud by 50% and internet fraud by 80%  Monitor social media to find disaffected customers from other banks  Creating relationships with other data sources such as consumer property portals  9 Integrated transactional data with social interactions and on-site behaviours to provide personalized web experience and online tools “Information gleaned from customer transactions … is now more important than the transaction itself” – Michael Harte, CBA CIO © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Telecoms example – Telecoms Italia   Real-time performance and capacity planning for network traffic  Competitor network analysis to inform strategic decisions and investments  Optimizing quality of service to increase customer lifetime value  Creating campaigns to target customer microsegments. Increased campaigns from 20 to 350 per month  10 Monitoring of network and service provisioning. Analysis of social media activity to monitor and influence brand reputation and measure digital communication strategy © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Are things really changing?  Haven’t we always exploited (or tried to exploit) data?  What about social, mobile and cloud?  These are channels   11 Technology + business innovation Data is the driver for change © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Data storage has moved from analogue to digital Source: Hilbert and López, “The world’s technological capacity to store, communicate, and compute information”, Science, 2011 12 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • 13 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • A blast from the tennis past 14 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Source: Hawk-Eye /tennistv.com 15 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • • Power generation process • Trunk stability • Lower body mechanics • Muscular loading • Arm speed • Racquet speed Source: BioSport Technologies 16 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Retail example – Tesco   Using weather forecasts, updates store forecast for 18 million items, three times a day  More intelligent discounting as fresh food approaches sell-by dates  Demand forecasts using big data analytics saving £30 million in food wastage, £50 million less stock in warehouses  Analyzed 70 million data points to cut refrigeration costs by 20% and save €2 million  17 Well-established utilization of customer data, based on loyalty card – now exploiting adjacent channels – financial services, video on-demand Paving the way for further engagement with ownbrand tablets and in-store wifi © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Emerging patterns  360o customer insight and personalized marketing  Aggregating transactional data, social media, customer interactions  Acting in real time  Tailoring campaigns, customer offer or customer experience ‘on the fly’  Asset and service management  Analyzing streaming data to identify disruption and maintenance needs  Process optimization  Predictive analytics and process simulation to reduce waste and cost  Risk management and fraud  Identifying patterns across all available data to improve risk-based decisions  Performance management  Optimize financial and operational decisions based on deep data insights 18 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Healthcare and Life Sciences examples   UNC Health Care analyzing registrations, clinical notes, phone calls, to reduce patient readmission rates  Clinicians analysing large data banks to establish “virtual cohorts” of patients with similar medical histories in order to work out the most successful treatment regimes for an individual patient.  Governments seeking to compare data on key metrics, both nationally and internationally  19 Toronto Hospital and University of Ontario Institute of Technology integrating 1256 readings per second in neonatal ICU to predict adverse changes in a baby’s condition Challenge is how to integrate the data across the healthcare and life sciences ecosystem © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • What capabilities must organizations develop?   Data-driven culture  Information governance  Data processing and analytics platform  Intelligent BI tools  20 Data: transaction + interaction + acquisition Superior user experience © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Education examples   University of Huddersfield analyzing resource usage to identify under-performing students  Georgia State using predictive analytics to prioritize student grants  Purdue University monitoring student demographics, academic history, engagement with online resources, and current performance to improve student retention  21 Predictive analytics being incorporated into virtual learning environments to drive improvement Big Data techniques being used to personalize alumni marketing and increase donation rates © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • What barriers must be overcome?   Data privacy, data security and data ownership  Internal data silos  Skills shortages  Funding and business case  Data governance, data quality and integration  22 Understand that this is strategic Technology is the least of our concerns © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Agriculture example – grain yield monitoring 23 © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Case study example – Climate Corporation   Utilize publically available data sources on crop yields and soil types, for every two square miles of the US  Crop data linked to one million data weather points used for storm warnings, to create crop impact predictions  24 US crop insurance provider, founded by two ex-Google employees Use Hadoop and Map Reduce, running on Amazon Web Services to process the large volumes of data © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Call to action 1 2 3 4 25 Review key adoption patterns in the context of your business – consider processes, functions, business model Align specific data-driven opportunities with strategies objectives, and develop a business case Assign responsibility for developing a data strategy and capabilities Explore new data opportunities – think about transaction + interaction + acquisition © Copyright Ovum. All rights reserved. Ovum is an Informa business.
    • Thank you Tim Jennings, Chief Analyst & Research Fellow, Ovum IT tim.jennings@ovum.com @tjennings Nov 25, 2013 26 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.