From Insight to Impact (Chicago Summit - Keynote)

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From Insight to Impact (Chicago Summit - Keynote)

  1. 1. DRAFT – NOT FOR DISTRIBUTION
  2. 2.  Twice as likely to be in the top quartile of financial performance within their industries.  Three times more likely to execute decisions as intended.  Five times more likely to make decisions faster. Leading Analytics & Data Science Companies:
  3. 3. Most Fall Short 55%Of projects fail. WHY?
  4. 4. • Align with corporate strategy • Ignite stakeholder engagement • Sharpen team focus • Drive change management • Recruit key talent Five Critical Pillars of Success
  5. 5. Analytically Impaired What happened In our business? 5 Align with Corporate Strategy Localized Analytics What can we do to improve this activity? Analytical Aspirations Can we extrapolate existing trends? Analytical Companies How can we use analytics to innovate and differentiate? Analytical Competitors How do we stay ahead? 1 2 3 4 Competing on Analytics Framework
  6. 6. Align with Corporate Strategy Impact area Impact horizon GROWTHEFFICIENCY SHORT TERM LONG TERM Analytics Opportunities Prioritize Framework Factory Logistics Shipping Procurement
  7. 7. Ignite Stakeholder Engagement Why important? Anatomy of an Analytics Project Realize Impact Impact becomes known Opportunity Framing Analytics & Modeling Data Collection & Conditioning Tools Building ImplementationExperiments Big Opportunities Select Winner Impact Impact = Guess Too many unknowns Test multiple variables Impact precision increases Analytics Team Responsibility
  8. 8. Ignite Stakeholder Engagement • Spending time with stakeholders outside of meetings (e.g. lunches and dinners) • Understand stakeholder incentives: what gets them their bonus? • Align output (insights) with stakeholder incentives • Recast team incentives Your role in communicating strategy to company? Leveraging executive evangelists and sponsors.
  9. 9. Sharpen Team Focus The Analytics Project Pipeline Theme Stage Importance Urgency Framing Stage 25% Reducing expenses by optimizing supply chain Data Collection Medium High FTE allocation 25% Implementation Stage 10% Analysis Stage 35% Data Collection Stage 30% Strategic Theme 1 45% Other 5% Strategic Theme 2 30% Strategic Theme 3 20%
  10. 10. Sharpen Team Focus No Zombies
  11. 11. Sharpen Team Focus Data Infrastructure and Talent
  12. 12. Drive Change Management Enablement: the power of business experiments Design Experiments Gather Data Analyze Results Hypothesize Run Experiments
  13. 13. Drive Change Management Fast fail mentality; pivoting Change Management “You miss 100 percent of the shots you never take.” -Wayne Gretzky
  14. 14. Recruit Key Talent • Why Work for Your Team? • Pre-screen Technical Skills • Fit with Company Culture
  15. 15. Richard Wendell @rewendell

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