We are very excited to share our first edition of our OpenInsight. This is the first of a regular series of updates which will include insights covering extending the value of data within your business, tips and tricks on the use of the RAPid platform and generic articles on business analytics.

1. We are awash with data! The
last stats I read are that by 2020
there will be 35 zettabytes
(3.5x1013
Gb) of data stored. That
is a lot of data. But data in itself
is useless, unless it can be
analysed and provide value,
which is where the Rosslyn
Analytics RAPid platform comes
in. Although the mass of data
can seem daunting having the
right tools to extract, integrate
and analyse it creates new
business possibilities, one of
which is data monetization.
Monetization of data opens up at
least 2 opportunities for
business; the first is using the
data they have accumulated
from hundreds of customer
interactions to provide
additional value to further
engagements. They do this
anyway and call it experience;
adding analysed data to the mix
should be a significant
differentiator. The second is to
create added value services with
that data. This can lead to
improved customer retention and
create new wins.
This is all very well but in
practice what kind of
commercial services can be
provided from monetized data?
There are four main ones:
Direct marketing. Alerts on
changing customer behaviour can
provide a valuable insight into
the acquisition of new customers
and the management and
retention of existing
relationships. Marketers use
these alerts to help them tailor
their marketing messages on an
almost real time basis.
Predictive analytics. This is
where models are used to create
predictions that help companies
develop more profitable
relationships with their
customers.
Benchmarks and indexes. An
index is a statistical tool
designed to measure momentum
or lack of it over time. A
benchmark is something that
serves as a standard by which
others are measured or judged;
it is a point of reference from
which measurements are made.
Gamification. Capturing data on
user activity and using it to
create a more compelling
experience, allowing firms to
better engage and motivate
employees. A few years ago I
worked for a company making
vehicle trackers. A client used
the data from these to analyse
employees driving habits in
company vehicles. They created
a monthly league table of driver
performance and offered cash
prizes to the driver with the best
habits. Result were happy,
motivated and good drivers,
reduced fuel consumption,
vehicle wear and tear, insurance
costs etc. A simple gamification
idea with huge payoff.
For a great deal more about
monetization take a look at
Mark Pearces’ website,
www.profitfromdata.net.
Create Growth and Value by
Monetizing Data
.
Inside this issue:
 Monetisation of Data
 Days Payable
Outstanding
 Partner Approach to
Spend Analytics
Feedback is the breakfast
of champions.
OpenInsight
‘If you don’t cannibalise yourself someone
else will’ Steve Jobs
22nd August 2016

2. Research by The Hackett Group
indicates that 32% of respondents
are planning to extend their
supplier payment terms. Doing so
can unlock value in your supply
chain, release cash and, generally,
improve working capital
management.
The RAPid Days Payable Outstanding
(DPO) Tracker app from Rosslyn
Analytics helps you to quickly
understand how long it takes your
company to pay its invoices and
more.
App Benefits
 Gives you visibility of when
you're paying suppliers in
relationship to contracted terms
 Enables you to make changes to
payment cycles in order to
improve cash flow
 Identify inefficient payment
processes and units in your
company
 Comply with public sector
regulations with regards to
payment terms
The RAPid Days Payable Outstanding
(DPO) Tracker app is based on
the calculation (Invoice payment
date - Invoice date / by the
number of paid invoices) that
can be easily modified to meet a
client’s specific needs.
The Partner approach to
Spend Analytics.
When asked to help deliver
Spend Analytics solutions our
partners are regularly faced with
trying to exploit their clients’
legacy systems as much as
possible, which often sees them
resort to creating inefficient
work-arounds. These may bring
short term relief but rarely
deliver the longer term value.
They also invariably cost the
client more in $’s and in
opportunity cost.
By contrast those partners who
that have leveraged the cloud as
part of their service offering
materially simplify and eliminate
the operational drag associated
with the traditional approach to
solving their client’s analytic
needs
This modern, self-service
approach, delivers an agile IT
free development environment
where the partner, in
conjunction with their client, is
able to test and respond to
constantly changing needs, in real
time, whilst also enabling highly
targeted work streams.
To deliver this heightened level of
innovation partners need a modular
platform that compresses lead
times, where simplicity is essential
for both the partner and their
client, which is business user
centric, from which the partner can
rapidly launch end-user facing apps
and is highly configurable.
We see many examples of these
two approaches and can make a
direct comparison between 2
recent examples; one where the
client decided on a work-around
whilst another adopted Rosslyn
cloud platform. Within 10 working
days the client who adopted the
cloud approach was live and
extracting value. They also have
materially more functionality,
worked more collaboratively and
their data is considerably richer
through connecting it to other data
sources such as DnB. The client
that has decided on the work
around was live in 7 weeks whilst it
also cost a number of times more.
The partner delivering the cloud
platform enjoyed a lower cost of
sale, shorter lead times and has
increased their engagement with
the client.
For more information about the Rosslyn
Analytics Partner Program email:
info@rosslynanalytics.com
RAPid Days Payable
Outstanding
Do you measure how long
it takes to pay your
suppliers and the impact of
adjusting this average?