Analytical thinking 15 - October 2012


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Analytical Thinking is a fortnightly newsletter from the UK Business Analytics team.

The purpose of the newsletter is to raise awareness about why analytics is a hot topic at the moment, where is analytics being referenced in the press and in what ways are organisations using analytics.

Business Analytics (Operational Research) is part of the Digital Transformation team in Capgemini Consulting UK

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Analytical thinking 15 - October 2012

  1. 1. Analytical ThinkingAnalytical Thinking 15 - ANewsletter from the UK Business October 2012Analytics Team Introduction Introduction Welcome to the latest edition of Analytical Thinking, a newsletter from the UK Business Analytics community providing snippets of insight on what people have been saying and how organisations have been using our capability over the last 2 weeks. Within the Big Data section of this edition, the first article will liaise with Analytical Thinking 14, confirming the idea that Big Data and Business Intelligence are linked. You will also read on how Big Data can help in other domains. The analytics section will show you how “Analytics is the basis for competitive advantage going forward; understanding your data, getting insight, and acting upon it”. back to top Big Data Why Big Data And Business People And Big Data: Separately Intelligence Are Like Good, Together Great One Direction Innovation has evolved in Following the last Analytical business. Specifically, 1997 to Thinking edition, another article the present day is marked by a linking Big Data and Business transition from technical Intelligence. The article makes innovation to innovations in the analogy between the rise of business models. Acquiring data Big Data to the escalating popularity of sets and turning them into invaluable business bothersome big-haired British Boy Band, „One assets is where the true innovation occurs. This Direction‟. After defining Big Data, this article article argues that without efficient and cost gives an analysis of its signification and role, and effective resources like outsourced labour forces, covers its benefits arguing that “Improving Big Data companies would never achieve efficiency in business operations is the number innovation in business models and consequently one benefit sought from Big Data operations, value to modern consumers that crave followed by attracting and retaining customers”. information. See article See article
  2. 2. The Key To Keeping Customers? BigBig Data, Analytics As A Service: Data Likely Boom On Deck The power of Big Data only becomes Data analytics and visualization valuable if the customer sees the “as a service” are likely to be benefit as well. Analyzing data in the vehicle that makes big data real-time through machine learning commoditized and consumable and dynamic model construction for organisations in the next two allows technology companies to or three years. This article begin to predict what happens in customerargues that big data is both a provider and a environments and take action accordingly. Thisconsumer. It explains that data analysis as a article explains why big data is crucial to findingservice is starting today, but forecasts that the out what customers are actually two to three years will see the niche of“analytics as a service” swell. Capgemini‟s UK See articleBusiness Analytics team have a go-to marketproposition on offering „analytics as a service‟.See articleAnalyticsWorkforce Analytics Does Not What Makes Analytics Wizards So Require Big Data – Yet! Good? They Do Everything Most of the use cases for big data seem to revolve around Backwards marketing, social media and Good analytics is a combination customer service initiatives of art and science, where the where unstructured data skilful analyst combines an sources reveal big value. In this entire matrix of prior knowledgearticle Ventana Research suggests that a prime with good judgment aboutbenefit of big data is in the ability to retain and authentically meaningfulanalyze larger amounts of data and to increase qualitative differences. Like software developersthe speed of analysis. However, at present and computer scientists, there are a lot of self-workforce analytics does not suffer from an styled big data analysts and “data scientists” outoverwhelming amount of data, but rather from there, most minimally competent and somethe inability to apply meaningful analytics to the adequate. This article describes the skills anddata organizations already have. Workforce competencies required to be a really good analystanalytics is another Capgemini Business Analytics – what it terms an „Analytics Wizard‟.proposition. See articleSee article Customer First: Using Analytics To Understand Policyholders The use of analytics among property & casualty insurers has slowly evolved from strictly a risk-centric approach to today including a focus on customer-centric data. This article will explain why the goal of nearly every insurer is to be more customer- centric and analytics is the source of competitive advantage. See articleMiscellaneous
  3. 3. Operational Research Vital For Firms In Todays Climate In the article, Professor Juergen Branke, leading Warwick Business School professor, explains that the field of operational research is becoming more and more popular with employers arguing that “with the depressed global economic climate we are in, companies need to make sure they are not wasting money, and operational research can help do that. Also, as more and more processes become digitized, the amount of information available electronically is exploding, and it becomes ever more important to make good use of this data”. See article Footnote Figure It Out Blog Have you visited the Figure it out blog yet? back to top Feedback We hope that you have enjoyed reading this fifteenth edition of Analytical Thinking and hope that it has provided you with a good insight into some of the value that is currently being realised through Business Analytics solutions. If you would like to find out more about our services and propositions then please contact Nigel Lewis or Jon Chadwick. If you have any suggestions on how we can improve this newsletter or if you have received it via a colleague and would like to subscribe then please contact Charlotte Skornik. If you spot an article that is Business Analytics related then wed like to know about it, please submit it to Charlotte Skornik, and it may appear in the next edition of Analytical Thinking! back to top The information contained in this newsletter is proprietary and confidential. It is for Capgemini internal use only. Copyright © 2012. All rights reserved by Capgemini. subscribe to this newsletterThis is a fortnightly newsletter, if you don’t want to receive it anymore, please let me know.Regards,Charlotte SkornikBusiness Analytics | Operational Researchcharlotte.skornik@capgemini.comTel: +44 (0) 870 904 5666 - Mob: +44 (0) 789 115 Holborn Viaduct - London - EC1N 2PBConnect with us:Capgemini Consulting is the strategy and transformation consulting brand of Capgemini Group