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Deserted Island Data Science

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Presentation from FARCON - 8/23/17

Published in: Data & Analytics
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Deserted Island Data Science

  1. 1. As a BI or analytics team do you sometimes feel And at other companies, you think BI teams are Isolated and trapped, surrounded by difficult terrain? Connected, engaged, supported by good infrastructure?
  2. 2. Evaluative Questions Informative Questions Prospective Questions Enablement Partnership What Why Action
  3. 3. Improve the Product Sell the Process Know Your Business Build Something Awesome
  4. 4. Know Your Business Institutional knowledge and stakeholder relationships are key. Align your analyses to business questions Build Something Awesome The product doesn’t need to be perfect, but it must be thoughtful and useful Sell the Process Always have a roadmap and expect the work to generate new questions and deliverables. Improve the Product A process improvement can be worth celebrating, especially if it creates the opportunity to generate insights, faster.
  5. 5. Business Objective Asset Growth Account Growth Business Question Can we provide managers with data driven insights not found in traditional reporting or survey methods? Analysis Question Do households cluster in specific ways not apparent in traditional reporting and survey analytics? Business Objective Business Question Analysis Question
  6. 6. Data Process Findings and Recommendations 6,000+ households PCA Analysis, Cluster Analysis, Visualization Connect the dots in a meaningful way so the business can interpret the results Indicators Related To Wealth, Investment Goals, Asset Consolidation, Financials, Borrowing, Profitability
  7. 7. We started simple, with the drag and drop k-means analysis in Tableau 10, but soon enough moved to R for more advanced data prep and analysis We normalized the data and then performed dimension reduction (using PCA) in R, and chose top 4 principal components (~80% variance in data). Algorithmically (K-means and Hierarchical) clustered the data into 4 groups
  8. 8. Used Tableau to visualize the resultant clusters, and identified key performance metrics, uncovering insights for the business. Challenged the assumptions and made recommendations specific to each cluster
  9. 9. Executives prioritize objectives Business makes a decision on available data Did it work (quarterly, aggregate data) Executives prioritize objectives Business makes a decision on available data What will Work Is it Working
  10. 10. - Collaborated with the business to refine the requirements and get a better understanding of the end state - Enhanced Analytical Capabilities: Leveraged statistical analysis and modeling to answer the right questions at the right time for the right audience
  11. 11. POC High Value and High Visibility Institutionalized Process Analytics as a Service Executive Buy In Live in Production Integration Self-Service Looking towards the future Build trust and understanding with executives and business partners through a POC Align on a project that is high value and high visibility to deliver on learnings from POC Integrate new repeatable analytics process into existing activities and reports Provide a platform to ensure that new services are being consumed to inform decisions
  12. 12. Improve the Product Sell the Process Know Your Business Build Something Awesome Work to automate your traditional reporting, so you have time to deliver insight Build actionable and visual intelligence to get leaders on board with your analysis and recommendations Analytics projects don’t have to be heavy lifts, just require the right people and passion Be Proactive. Always come with something for a business team to react to.

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