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Transforming a Business Through Analytics

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The dawn of digital businesses is upon us, with reimagined business models that make the best use of digital technologies such as automation, analytics, integration and cloud. Digital businesses are efficient, continuously optimizing, proactive, flexible and are able to fully understand their customers. Analytics is a key technology that helps in doing so. It acts as the eyes and ears of the system and provides a holistic view on the past and present so that decision-makers can predict what will happen in the future. This webinar will explore

Why becoming a digital business is not a choice
The role of analytics in digital transformation with examples
How best to leverage state of the art analytics technology

Published in: Data & Analytics
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Transforming a Business Through Analytics

  1. 1. Srinath Perera VP Research, WSO2 srinath@wso2.com Transforming a Business Through Analytics
  2. 2. 2 Day in Your Life
  3. 3. –Buzz Aldrin “You promised me Mars Colonies, but we got Facebook instead”
  4. 4. Uber • A company worth XX • A taxi company that does not have cars or drivers A Taxi company without cars or drivers 4
  5. 5. Digital Organizations • Organizations that uses Digital technologies to fundamentally rethink how they work • Organizations that change the bottom line and leap us to the future the way industrial revolution did • Most of us in our age dress better, eat better, live longer, compared to King’s in 18th century 5
  6. 6. If you collect data about your business, and feed it to a Big Data system, you will find useful insights that will provide competitive advantage – (e.g. Analysis of data sets can find new correlations to "spot business trends, prevent diseases, combat crime and so on”. [Wikipedia])
  7. 7. Question the Data • Analytics let you question the data • How many, history, trend • They let you match the reality with your belief of how the world works 7
  8. 8. KPIs and their Role • KPIs (Key Performance Indicators) are numbers that can give you an idea about performance of something • Examples - Countries have them ( GDP, Per Capita Income, HDI index etc) , Company Revenue , Lifetime value of a customer , Revenue per Square foot ( in retail industry) • Often one indicator tells half the story, and you need several that cover different angles 8
  9. 9. What is a Dashboard? • Think a car dashboard • It give you idea about overall system in a glance • It is boring when all is good, and grab attention when something is wrong • Support for drill down and find root cause
  10. 10. Example: Big Data for Development • Done using CDR data • People density noon vs. midnight (red => increased, blue => decreased) From: http://lirneasia.net/2014/08/what-does-big-data-say-about-sri-lanka/
  11. 11. Beyond Simple Analytics 11 Picture by Dan Ruscoe (CC) https://www.flickr.com/photos/druscoe/8031488298 Realtime Intelligent
  12. 12. Real-time:Value of some Insights degrade Fast! 1. Stock Markets 2. Fraud 3. Surveillance 4. Patient Monitoring 5. Traffic12
  13. 13. Boyd's key concept was OODA loop. According to this idea, the key to victory is to be able to create situations wherein one can make appropriate decisions more quickly than one's opponent. 13
  14. 14. Real Time Analytics with Complex Event Processing 14
  15. 15. Case Study: People Tracking with BLE 15 • Traffic Monitoring • Smart retail • Airport management Track people through • BLE via triangulation • Higher level logic via CEP
  16. 16. "I skate to where the puck is going to be, not where it has been." - Wayne Gretzky (Called "the greatest hockey player ever” He is the leading scorer in NHL history) 16
  17. 17. Predictive Analytics 17 Machine learning • Given examples build a program that matches those examples • We call that program a “model” • Major improvements in last few years (e.g. deeplearning) Can you “Write a program to drive a Car?” 17
  18. 18. Case Study: Predict Wait Time in the Airport • Predicting the time to go through airport using location data • Real-time updates and events to passengers via the App
  19. 19. Optimizations • Logistics, day to day operations • Supply Chain Analytics • Demand prediction 19
  20. 20. Get Close to your Customers • Use analytics to optimize the experience • Predict issues and proactively handle them ( e.g. reschedule automatically when flight has missed) • Predict churn and act • Track the brand and manage it • Target your marketing
  21. 21. New Digital inspired Products and Revenue Streams • New way to do business (e.g. Uber, Amazon Go) • Product as a Service (e.g. IoT Jack hammer, Light as a service) • Progressive Insurance Gadget • Sell insights ( Telcos knows where people are, credit card companies know what people buy and their demographics, navigation apps know traffic)
  22. 22. HR, Performance, Learning • Hiring • Skill registries, Finding right person for the job • Perfomance Appraisal • Post mortem, learn from past incidents • See patterns for improvement 22
  23. 23. Data Driven Organizations • Goals defined as well balanced KPIs • The First KPI should measure the output (e.g. processed claims count) • the second KPI should measure the quality (e.g. mistakes occurred). • Monitor and manage KPIs • Many Experiments, KPIs for decisions, and keep what works 23
  24. 24. Making this real
  25. 25. Conceptual Architecture • APIs play a key role in data collection • Need to respond to events as fast as possible • Incremental Analysis is key
  26. 26. Anomalies, Alerts, Drill Down, Decisions 26
  27. 27. Can we not do it? • No, because whoever does that have decisive advantage • It is like gun power was more risky ( it can get wet, can be blown, you can run out), yet you need it 27
  28. 28. Analytics does not replace Thinking and Common Sense
  29. 29. How to do it? Small Wins • Start Small • Find pain points, and use technologies to fix them ( problem: vehicle fleet cost is too much, track the fleet usage stats) • Improve iteratively, go all the way until you make a real difference • Keep your eyes on the goal, not on shiny technology 29
  30. 30. Questions? https://hackernoon.com/role-of-analytics-in-a-digital- business-e4762b20272f

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