The Data Driven Enterprise - Roadmap to Big Data & Analytics Success
•
5 likes•1,517 views
The document discusses how data-driven companies are performing better financially and outlines the benefits of big data and analytics. It provides examples of companies using big data and analytics to improve customer experience through personalization, predict maintenance needs, and identify at-risk veterans to prevent suicide. The challenges of big data are also reviewed. Finally, it proposes a seven-step methodology for leveraging big data and analytics to address critical business challenges.
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Viewers also liked (20)
Similar to The Data Driven Enterprise - Roadmap to Big Data & Analytics Success
Similar to The Data Driven Enterprise - Roadmap to Big Data & Analytics Success (20)
Recently uploaded
Recently uploaded (20)
The Data Driven Enterprise - Roadmap to Big Data & Analytics Success
- 1. The Data Driven Enterprise: Roadmap to Big Data & Analytics success Raj Dalal Founder and Principal www.BigInsights.co
- 2. “IN GOD WE TRUST – ALL OTHERS MUST BRING DATA” - W. Edwards Deming Engineer, Statistician, Professor, Author, Lecturer & Management Consultant
- 3. Do Data Driven companies perform better? 5 4 0 0 34 16 8 0 37 44 43 22 21 29 41 47 3 7 8 31 Behind On Par Somewhat Ahead Substancially Ahead Substancially Behind Somewhat Behind On Par Somewhat Ahead Substancially Ahead Financial Performance UseofData Source: EIU, Oct 2012
- 4. Why now • The Australian Hyper Connected Customer – Smart phone / 4G – Broadband – Social Media (FB/Instagram/Twitter etc) • Customer Experience & Expectations • Digital transformation a survival necessity Big Data & Analytics is foundation for uber customer experience and better business management. It is the means to the end…
- 5. Big Data = Transactions + Interactions + Observations + IoT Increasing Data Variety & Complexity GigabytesTerabytesPetaBytes > 60% 40-50% 30-40% 20-30% Biz Activity (ERP/CRM) Commercial Txn/ POS Logfiles/ Text Web/ Clickstream Email/ Documents Machine /Sensor Social Networks Geospacial/ Location Based Image/ Audio/ Video Scientific/ biometric Legend: % of Respondents What data being stored In centralised Hub for Analytics? Source: Big Data End User Study 2014/2015, BigInsights
- 6. Perceived Benefits of Big Data & Analytics Source: Big Data End User Study 2014/2015, BigInsights
- 7. Big Data & Analytics Applications on Next Gen Data Platform Security / IT Infrastructure Ops Industry Application FSI * Manufacturing * Retail, * Government * Healthcare * Telecoms/Media * Utilities Acquire, Grow & Retain Customers Personalisation * Profitability * Acquisition * Retention * 720 degree view of customer Optimize Supply Chain * Reduce Fraud * Predictive Maintenance Next Gen Data Platform Data Warehouse / ETL re-architecture / Replatforming BI
- 8. Source: Big Data End User Study 2014/2015, BigInsights What are we doing with Big Data Analytics
- 9. Hyper Personalisation based on 720 degree view of customer Hyper Personalised Customer Interactions Web experience Email Product / Service Recommendations Contact Center Inbound/Outbound Online Re-marketing Mobile experience Basket Upsell/ Abandoned Transactions Interactions Social 720 deg View 720 deg View
- 10. ICBC Argentina: Cross Selling Machine Organic growth slowing needed new initiatives for continued growth Cross sell ration was lower than peers (2.1 vs 2.7) Solutions/challenge: • Right Offer to Right Customer at Right time thru Right Channel • Event triggers drive offer bank driven by predictive models • Offer outreach: • Proactive • Reactive Results: • Sales campaign increase : 62% • Cross sell index: 15% increase in 18 months to 2.41 • Worth millions – no problem getting additional budgets Next: • Audio analytics of Call center interactions • Retargeting of offers beyond their websites
- 11. Durkeim project : US veterans at risk • US Veterans are committing self harm at alarming rate • Predict negative events such as suicide in the US veterans population and prevent it • Team of psychiatrists, US VA and AI (Machine learning) Solution • Developed linguistic-driven prediction models to estimate the risk of suicide. (from VA medical records). • Generated Datasets of single keywords and multi-word phrases and constructed prediction models using machine learning algorithms • Expand the data available for VA physicians with real time social media feeds from 100,000+ US Veterans to medical database • Can provide real-time triage upon detection of critical event (Clinician Dashboard) Outcome: Data model’s predictive accuracy was statistically significant (at least 65% accurate) and saving lives
- 12. Clues from Data Driven Leaders Source: EIU, Oct 2012
- 13. The Top Challenges of Big Data & Analytics Source: Big Data End User Study 2014/2015, BigInsights
- 14. Vertical Industry Apps INFRASTRUCTURE DATA PLATFORMS ANALYTICS TOOLS DATA MANAGEMENT TOOLS Vendor Landscape
- 15. Focus on Critical Business Challenges Data Inventory & Quality Audit Identify External Data Sets Analytical tools & models Refinement of Hypothesis Test & Verify Integrate with operational process BigInsights 7 Step Methodology
- 16. @WalmartLabs Building the future of commerce • Part of worlds largest retailer – $500B in annual sales • Established @WalmartLabs and acquired tech companies • Transform store experience using lessons from e-commerce • They want to make it easier for a customer to: – Plan before they come to the store – Make it easier to find goods when in the store – Make real time offers when they are in store for upsell/cross sell • Mobile App – shopping list, In-store guidance • Big Fast Data platform drives everything
- 17. Closing Thoughts • Increasing competition & consumer behaviour is forcing companies to look to data for competitive advantage • Data can yield new information and drive new use cases and potentially income streams • Appetite for data driven decision making will see data continue to grow at exponential rates • Start experimenting now with new technology platforms • Time to act is Now
- 18. Raj Dalal – Founder & Principal raj@biginsights.co @BigInsights Thank You
Editor's Notes
- Data driven is a mindset It is knowing the numbers, being interested in the data and planning based on number Becoming in popular culture– Numbers (TV series), Freakonomics, Show – Money ball (predicted) – Nate Silver – predicted outcome
- Why now: 14M on FB Instagram – 4-5M Twitter – 4M SP – 90-95% Australian population Mobile Broadband – over 115% (Top 3 in world) Fixed broadband – 27 per 100 households. 60% have a tablet 7M Broadband customers – 10M dwellings
- Full service bank for consumers/SME/Large corporate Top 10 Bank in Argentina and ICBC first outside of Asia Organic growth slowing needed initiatives for continued growth Cross sell ration was lower than peers (2.1 vs 2.7) Selling to existing customer is cheaper and more profitable than adding new ones Proactive ( outbound call, Direct emails) Reactive ( CRM apps, phone system, website, call center audio, mobile bank, branch turn, ATM)
- Overview of Company US Veterans are committing suicide at an alarming rate Some disturbing statistics: 22 US veterans per day commit suicide Suicide rates are roughly double those of general US population 21% of overall suicides in USA are veterans 12,500 calls per month to veterans crisis line (30% are related of suicide) Durkeim project aims to proactively predict negative events such as suicide in the US veterans population and prevent it. Outcomes Dedicated to applied research on predictive suicide risk: Multidisciplinary team of psychiatrists, US Veterans Administration and AI (Machine learning) Phase 1: Developed linguistic-driven prediction models to estimate the risk of suicide. (from VA medical records). Generated Datasets of single keywords and multi-word phrases and constructed prediction models using machine learning algorithms Outcomes – Phase 2 Sucidality prediction at scale Expand the data available for VA physicians with real time social media feeds from 100,000+ US Veterans to medical database Clinicians get a dashboard to monitor risks based on this realtime data Can provide real-time triage upon detection of critical event Durkheim Project (Phase 2) - Proactive Clinician dashboard Clinician dashboard Technology Benefits/Metrics Phase 1 - Data model’s predictive accuracy was statistically significant (at least 65% accurate) Proactive platform for refining predictive models and suicide prevention at scale
- Walmart Mobile Walmart’s mobile apps innovate convenient ways to shop online or in-store. Shoppers can scan items for price and information while in-store, as well as locate items by aisle. They can use their mobile device to plan an efficient shopping trip by checking to see if an item is in stock, browsing Rollbacks and coupons for their local store, and getting driving directions. Customers can easily access their lists, read reviews, and of course buy online with Walmart.com's feature-packed mobile app. Sam's Club Redesign The newly redesigned samsclub.com offers a full-service, online membership warehouse assortment offering more than 1,600 items. The new site features Click’n’Pull, in which members can place orders online for pickup within 24 hours at their local Sam's Club. Members select from more than 2,500 items in their local club’s inventory and get an email when the order is ready. Click’n’Pull is currently available in Alaska, Arkansas, Florida, Missouri, Oklahoma, Pennsylvania, Texas, Utah and Washington and will continue to roll out across Sam’s Clubs at more than 460 facilities nationwide. THE TRENDING PAGE The Trending Now page introduces discovery shopping by displaying items recently bought on Walmart.com. Browsing relevant and timely Walmart.com items brings fun and inspiration to the shopping experience, making it easy to discover and buy. The Trending page helps us expand our reach into new audience segments by driving traffic into product areas through the highly visual browsing experience. BIG FAST DATA For projects that call for data and analysis that scale beyond today's technologies, @WalmartLabs relies on the Big Fast Data team. Big Fast Data acquires, develops, and operates the data feeds, analysis tools, and infrastructure that are the foundation of @Walmartlabs' work. BFD supports hundreds of developers, data scientists, and analysts as they use the latest open-source tools and data of the world's largest retailer to help people save money and live better. SPARK STUDIO Spark Studio integrates popular Walmart.com pins from Pinterest to create a discovery shopping experience on Walmart.com. Shoppers inspire each other by browsing and pinning products by category like brands, color, and top-pinned. Select a pin to get more information, re-pin it, rate or review it, or buy it from Walmart.com. POLARIS Our next-generation search engine connects millions of shoppers with what they want and surfaces other items based on their likely interests. Built from the ground up by @WalmartLabs, Polaris uses semantic search technology to anticipate the intent of a shopper’s search to deliver highly relevant results.