The document discusses the importance of aligning businesses with the data-driven economy, emphasizing that data is now as crucial as oil was previously. It highlights that organizations need to analyze both structured and unstructured data to gain insights into customer behavior, allowed by algorithms that power decision-making across various industries. Adopting an analytics-based strategy and transitioning to an insights-driven culture are essential for leveraging data effectively to improve customer experiences and business outcomes.

1. Aligning your Business to the
Data Driven Economy
Anil Chopra
VP-Research and Consulting
CyberMedia Research

2. Eco-System of
Connected
Devices is
Growing

3. Data is the New Oil
 Data is to the new economy what oil was to the old
 Organizations that are able to collate and analyze their data
gold mine to draw insights from it will thrive
 Quantitative and structured data like name, address, etc. not
enough to gauge human behavior
 Unstructured data is critical, as info like social media profile,
smartphone usage habits, online reviews, etc. puts context
into what people really want and help you understand them
better
 Traditional Market research no longer enough to understand
customers
 Interconnections between IoT devices will further create
billions of new relationships that will not be driven by data,
but by algorithms.

4. Welcome to the
Algorithm Economy!
 Algorithms form core of
all insights and actions
from data, and will power
all M2M communication
using IoT.
 New products and services
based on sophisticated
algorithms to emerge.
 Algorithms already used
extensively in digitally led
companies

5. Every Industry Stands to Benefit
Manufacturing
• Predictive
Maintenance (repair,
re-build, or replace?)
• Compare failure
rates of parts from
different
manufacturers
• Balance supply with
demand by analyzing
demand for your
products
• Hire skilled workers
vs new and train
them
Healthcare
• Identify, evaluate,
and compare
treatment options
• Analyze vital
statistics from
bedside medical
devices
• Predict possible
disease outbreaks
and dive into
their root cause
Education
• Gauge
education
effectiveness
• Plagiarism
detection
• Predict
student’s future
performance
• Scheduling
algorithms to
optimize
teaching policy
BFSI
• Anti-money
laundering
• Chatbots
• Algorithmic Trading
• Fraud Detection
• Customer
Recommendations
• Improve pricing
accuracy on
insurance products
• Portfolio
management

6. It’s Not Just About
Data, but What You
Do With It!
Use Cases
are
Growing
Customer
Service
Customized
Loyalty
Programs
Speech
Analytics
TV Analytics
Predictive
Analytics
Weather
Analytics
Contextual
Analytics

7. Summary
 Data is the common denominator to convert your
digital vision into business results
 Customer intelligence paramount in the digital age to
enhance their experience, understand their needs,
analyze their journeys across channels, increase
loyalty, etc.
 You need an analytics-based business strategy and
the relevant tools to convert data into information.
 Use external data sources like data.gov.in from the
Govt. of India
 Start adopting an insights driven culture--move from
gut-feel culture to an 'insights-driven' one

8. Thank you!
“War is 90% Information”
~Napoleon Bonaparte