2. BIG DATA AND
ANALYTICS ON
FIRE!
Exploiter of data!
Has just simply topped the corporate
agenda!
It has also been the trendiest job and
attracts serious investments with
technology! Wow!
3. UNDOUBTED SUCCESS!
Hype! Hype! Hype!! But what is
achieved?!!
EXTRA OF 5-6% PRODUCTIVITY AND
PROFITABLITY RATE!
Success in the way companies do
business, but
how?
TRANSFORMING & RE-DESIGNING CORE
PROCESSES!!
4. LIMITATIONS
1. Clueless how to proceed
with the given data!
2. Unable to yield insights
that can be put to use.
3. New demands for data
management added
complexity to operations.
4. No useful and practical
implications.
5. Exploiting Data Is No Easy!
Three mutually supportive capabilities
1. Identify, combine, and manage multiple sources of data
2. Capability to build advanced analytics models predict &
optimize outcomes.
3. Obtain better decisions as management transforms the
organization.
a. Strategize to use data and analytics to compete.
b. Deployment of the right technology architecture and capabilities.
6. • Desired business impact.
• Drive an integrated approach to data sourcing,
model building, and organizational transformation.
• Ask data what it can do for you.
• Investment of sufficient time and energy by leaders.
• Aligning managers across the organization in
support of the mission.
7. A. Choose the Right Data
• Bigger and better data yield companies both more-panoramic and more-
granular views of their business environment.
• Improve operations, customer experiences, and strategy.
• Deliberate & creative ways to identify usable data you already have.
• Explore surprising sources of information!!
8. A(1) Source data creatively.
• Managers should know how the information can be used for key decisions.
• Specific about business problems they want to solve /opportunities they
hope to exploit.
• Managers be creative about the potential of external and new sources of
data.
• Ask: Decisions could we make if we had all the information we need.
• Leaders be attuned to novel approaches, gather and husband information.
9. A(2) Necessary IT
support.
• Legacy IT structures may hinder new types of data sourcing, storage, and
analysis, prevent the integration & managing unstructured data remains
beyond traditional IT capabilities.
• Hence unable to furnish continuous flows of information for real-time
decisions.
• Companies therefore focus on analytics services or emerging software.
• New cloud-based technologies offer ways meet big data demands cost-
effectively.
• Propels innovation by facilitating collaboration, rapid analysis, and
experimentation.
10. B. Build Models That Predict and
Optimize Business Outcomes
• Performance improvements and
competitive advantage
• Key approach: Identify the
business opportunity &
determine how the model can
improve performance.
• Inconsistent results: Data Mining.
• Huge data sets run dozens of
statistical tests.
• Identify submerged patterns.
• Managers be efficient to use the
correlations
• Enhance business performance
effectively.
• Hypothesis-led modeling
generates faster outcomes.
11. C. Transform Your
Company’s
Capabilities
Lead concern:
1. Managers don’t
understand or trust big
data–based models.
2. New approaches don’t
align.
3. Fail to realize business
goals.
12. C(1) Develop business-relevant analytics
• Managers to understand decisions made when setting prices.
• Decisions affecting revenue and customer retention
• Ultimate goal: more-effective management of price and volume
trade-offs.
• Embed analytics into simple tools for the front lines.
• Need of transparent methods.
• Necessity to sharpen marketing, risk management, and operations.
• Key : Separate the statistics experts and software developers from
the managers who use the data-driven insights.
13. C(2) Develop
capabilities
• Need to upgrade
their analytical skills
and literacy.
• Managers must view
analytics to solve
problems and
identifying
opportunities.
14. Exploit big data
• Executives should concentrate on targeted
efforts to source data, build models, and
transform the organizational culture.
• Maintaining flexibility.
• Capabilities hence will be a decisive
competitive asset.
