Simplifying Advanced Analytics to Empower Business Managers

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Description of Analytics as a value addition in an enterprise and the role of technology in bringing Analytics to fingertips of business managers.

BRIDGEi2i provides Business Analytics Solutions to enterprises globally, enabling them to achieve accelerated business impact harnessing the power of data. These analytics services and technology solutions enable business managers to consume more meaningful information from big data, generate actionable insights from complex business problems and make data driven decisions across pan-enterprise processes to create sustainable business impact.
More about Bridgei2i at: http://www.bridgei2i.com/about-us.html

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Simplifying Advanced Analytics to Empower Business Managers

  1. 1. Simplifying Advanced Analytics to Empower Business Managers The Fifth Elephant 2012, Bangalore 27th July, 2012 @ 2012 BRIDGEi2i Analytics Solutions Pvt. Ltd. All rights reserved
  2. 2. I am lucky to be a part of an Analytics Solutions Company in the era of Big Data
  3. 3. Topics we are going to discuss today…So you can decide when to escape  • Analytics journey in a business • Analytics adoption in businesses • Role of Advanced Analytics Apps
  4. 4. What is the link between a HURRICANE andPOP-TARTS?
  5. 5. Research conducted by Wal-Mart oncustomer buying patterns before a hurricane OBVIOUS items purchased Bottled Water Flashlights Generators Tarps Chainsaw Mop The SURPRISE item - Strawberry Pop-Tarts. "They are preserved until you open them, the whole family can eat them, and they taste good," Dan Phillips, Wal-Marts VP, Information Systems division.Source: CNN
  6. 6. The analytics journey iNFORMATION iNSIGHTS iMPACT Analytics - The new Mantra of business
  7. 7. iNFORMATION is growingHuman generated iNFORMATION Big Data “Big data” refers to datasets whose size is beyond the ability of typical database software tools to capture, store, manage, and analyse.” - Mckinsey people using mobileMachine generated iNFORMATION 4B phones in 2010 pieces of content shared 30 B on Facebook every month Network sensor nodes present across transport, 30 M auto and other sectorsIncreasing Diversity and Volume of Data lead to emergence of Big Data andchallenge of how to manage it
  8. 8. iNFORMATION is data+ Data is BIG Data is HOT Total Lifetime Grosses Worldwide: $110,206,216 Data is valuable if it is leveraged to derive iNSIGHTS
  9. 9. iNSIGHTS – what? Hmmm… I wonder what iNSIGHTS can iNFORMATION provide?I now know what I I can see more money I can now personalize never knew
  10. 10. Illustrative iNSIGHTS for a Marketing Manager WHAT WILL WHO WILL SHE BUY BUY? NOW? NEXT? HOW MUCH? WHEN HOW WILL SHE SHOULD I BUY? HOW REACH HER? OFTEN? HOW OFTEN? Helps me take informed decisions
  11. 11. The Analytics iMPACTMaximize Increaserevenue, agility &margins performanceMitigate Reduce cost risk Analytics iMPACT needs to measurable & sustainable
  12. 12. Illustrative iMPACT for the Marketing Manager More Customer More Revenue from Customer Add Customer at a Lower Cost Competing on analytics
  13. 13. Converting iNFORMATION to iNSIGHTS haspotential to deliver significant iMPACT$300 B potential annual value to US health care potential annual value to Europe’s public sector€250 B administration potential increase in retailers’ operating margins 60% possible with big data Source: Mckinsey
  14. 14. Successful analytics adoption has demonstrated iMPACTNetflix example Right Right Better Movie People Revenue 1999: Revenue $5 M 2006: Revenue $ 1BAt the heart of Netflixs business is a complex analytics engine which isportrayed as simple tool customers which provides movie recommendationbased on customers choices and feedback – to optimize both the customerstaste and Netflixs inventory. Complex analytics made easy better adoption
  15. 15. …but adoption of analytics in business continues to be a challenge 70% uses analytics for 2 and fewer functions 36 33 17 13 1 None Using for 1 Using for 2 Using for 3 Using 4 above The 6 areas or functions are Sales, Marketing, Customer service, Product/service pricing, Product/service delivery and New product/service development BIG DATA growing prominence, Lack of Analytics will evolve as the “Achilles Heel”Source: Accenture
  16. 16. What enables successful analytics adoption? People Data Scientists |Business Manager iNFORMATION Access iNFORMATION: Who can ask the right Internal – integrated access to multiple questions and get the right iNFORMATION sources iNSIGHTS: Derive actionable iNSIGHTS Hidden - hidden in the system due from iNFORMATION unwillingness of stakeholders to share iMPACT: Effectively implement iNSIGHTS External - purchased from third-party or to deliver business iMPACT available in public domain Tools and Techniques Policies That can help individuals and organizations Policies to data protection - privacy, to integrate, analyze, visualize, and security, intellectual property, and consume liability Test, Solve and Institutionalize AnalyticsSource: Mckinsey
  17. 17. With growing demand for managers withanalytical skills, the gap in analytics tools needto be filled quickly Projected need for 1.5 million additional managers and analysts in the United States who can ask the right questions and consume the results of the analysis of Big Data effectively. Source: Mckinsey The need is for: Simple to use app which has ability to perform complex Analytics to enable business manager derive actionable iNSIGHTS
  18. 18. The GAP – Advanced Analytics Apps PERSONAL COMPUTING & HANDHELD DEVICESUserNeeds Complex Simple ANALYTICS TOOLS and APPLICATIONS Data scientist Business managers Business managers with analytics needs Robust Analytics Tools --- Simple desktop applicationsWill business friendly Apps emerge in analytics as tablets did in personal computing?
  19. 19. Features of an advanced analytics app Easy to Affordable Available Actionable use iNSIGHTS Fact-based discussions Data-driven decisions  Simple, intuitive  Pay per use  Accessible  Embedded predictive interface  Shared anywhere analytics  Fast results infrastructure  Sharing &  Machine intelligence  No learning curve collaboration based decisions  No deep statistical  Interactive knowledge needed visualization Cloud based pre-packaged advanced analytics based solutions
  20. 20. Our baby-steps in the journey Survey Data High Attrition Group – 1-3 years vintage VISUALIZE Data Comment on areas of improvement ANALYZE Data Word cloud Theme cloud Derive INSIGHTS SHARE FindingsSurvey Data + = NSIGHTS
  21. 21. The Evolution of Analytics will continue The Evolution Surviving on Analytics The Present The Science of Survival COMPETING on Analytics The Science of Winning
  22. 22. THANK YOUE-Mail – enquiries@bridgei2i.comLinkedIn -http://www.linkedin.com/company/bridgei2i-analytics-solutionsFacebook – http://tinyurl.com/bridgei2ifbTwitter - @BRIDGEi2iWeb – www.bridgei2i.com

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