Simplify Your Analytics Strategy by Narendra Mulani. This Presentation is part of Data Analytics Internship under Prof. Dr. Sameer Mathur of IIM-L

1. Simplify Your Analytics Strategy
by Narendra Mulani

3. *
*While the interests in analytics and resulting benefits
are increasing by the day, some businesses are
challenged by the complexity and confusion that
analytics can generate.

4. *
*Companies can get stuck trying to analyze all that’s
possible and all that they could do through analytics,
when they should be taking that next step of
recognizing what’s important and what they should
be doing — for their customers, stakeholders, and
employees.
*Discovering real business opportunities and
achieving desired outcomes can be elusive.

5. *
*To overcome this, companies should pursue a
simpler path to uncovering the insight in their
data and making insight-driven decisions that
add value.
*Following are steps that we have seen work in
a number of companies to simplify their
analytics strategy and generate insight that
leads to real outcomes:

6. Accelerate
the data
Recognize
that each
path to
data insight
is unique
make the
data-driven
decisions
STEPS FOR SIMPLIFICATION OF DATA

7. *
*Fast data = fast insight = fast outcomes.
*Liberate and accelerate data by creating a
data supply chain built on a hybrid technology
environment — a data service platform
combined with emerging big data technologies.

8. *For example, a U.S. bank adopted such a
technology environment to more efficiently
manage increasing data volumes for its
customer analytics projects.
*As a result, the firm experienced improved
processing time by several hours, generating
quicker insights and a faster reaction time.
*

9. *
*The path to insight doesn’t come in one single form. There are
many different elements in play, and they are always changing
— business goals, technologies, data types, data sources, and
then some are in a state of flux.
* Another main component of a company’s analytics journey
depends on the company’s culture itself: is it more conservative
or willing to take chances? Does it have a plethora of existing
data and analytics technologies to work with, or is it just starting
out with its first analytics project?
*No matter what combination of culture and technology exists for
a business, each path to analytics insight should be individually
paved with an outcome-driven mindset.

10. *
*Once insights are uncovered, the next step is
for the business, of course, to make the data-
driven decisions that place action behind the
data. It is possible to uncover the business
opportunities in your data and increase data
equity, simply.

11. *
*Discovering real business opportunities and
achieving desired outcomes can be elusive.
*
To overcome this, companies should pursue a
simpler path to uncovering the insight in their
data and making insight-driven decisions that
add value.

12. *
*Companies are are in need to simplify their
analytics strategy and progress.
*Steps mentioned are the steps that we have
seen work in a number of companies to
simplify their analytics strategy and generate
insight that leads to real outcomes.

13. *
*Managers in India should
understand that Real-time
delivery of analytics speeds
up execution velocity and
improves the service quality
of an organization.

14. *Companies in India should
improvise their analytics
statergy and the should
follow the three factors
mentioned in the article by
Narendra Mulani
*

15. *
*Presented by:
Aditya Y. Bhatia
SKNCOE,Pune