As organizations gather and process colossal amounts of data, analytics is essential for operational and strategic excellence. We offer a guide to the phases of the data analytics journey, from descriptive to diagnostic to predictive to prescriptive, covering intentions, tools and people considerations.
Cognitive Integration: How Canonical Models and Controlled Vocabulary Enable ...Cognizant
For pharmaceuticals companies dealing with multiple partners' systems, employing a canonical model for data communications facilitates point-to-point integration, and applying a controlled vocabulary (CV) in such models alleviates semantical ambiguity and facilitates cognitive and systems integration. We demonstrate how this works with a pharma business scenario involving Contract Research Organizations (CROs).
As technology demands on logistics services providers (LSPs) become more intense, organizations are seeking to integrate or consolidate their third-part logistics (3PL) providers' solutions for tasks such as warehousing, inventory management, shipment management, cross-docking, order management, bar coding, analytics and far more. We offer a roadmap for selecting whether to make such a transition in logistics systems via a big bang or phased/pilot approach.
Stepping Up to the Challenges of Digital MarketingCognizant
"The advent of digital has dramatically impacted how CMOs run their marketing operations. By identifying and employing the processes, business models and technologies required in today's digitally intensive business environment, companies can strengthen their brand, enrich their relationships with customers, and manage an increasingly complex mix of partners, processes, and technologies.
Pervasive digital technology is fundamentally changing the retail banking business model. Here's how banking Chief Information Officers (CIOs) need to change in order to lead the digital charge, according to our recent study.
Care Management Platforms for Population Health: Seven Real-World Best PracticesCognizant
Our experience with large platforms offers important lessons and strategies that healthcare organizations can successfully replicate when deploying a population health-oriented care management system.
Understanding the Information Architecture, Data Management, and Analysis Cha...Cognizant
As the Internet of Things (IoT) becomes increasingly prevalent, organizations must build the enterprise information architecture required to gather, manage, and analyze vast troves of rich real-time data. We offer an IoT framework, use cases, and a maturity model that helps enable you to choose an adoption approach.
Increasing Business Productivity in Connected Enterprises and an Always-On Di...Cognizant
To remain competitive, businesses must enhance productivity through a connected enterprise set of solutions. We offer a roadmap and set of tools for insuring that Gen-Now workers obtain the stateless, limitless and boundaryless computing that they need and expect in an always-on digital business world.
Cognitive Integration: How Canonical Models and Controlled Vocabulary Enable ...Cognizant
For pharmaceuticals companies dealing with multiple partners' systems, employing a canonical model for data communications facilitates point-to-point integration, and applying a controlled vocabulary (CV) in such models alleviates semantical ambiguity and facilitates cognitive and systems integration. We demonstrate how this works with a pharma business scenario involving Contract Research Organizations (CROs).
As technology demands on logistics services providers (LSPs) become more intense, organizations are seeking to integrate or consolidate their third-part logistics (3PL) providers' solutions for tasks such as warehousing, inventory management, shipment management, cross-docking, order management, bar coding, analytics and far more. We offer a roadmap for selecting whether to make such a transition in logistics systems via a big bang or phased/pilot approach.
Stepping Up to the Challenges of Digital MarketingCognizant
"The advent of digital has dramatically impacted how CMOs run their marketing operations. By identifying and employing the processes, business models and technologies required in today's digitally intensive business environment, companies can strengthen their brand, enrich their relationships with customers, and manage an increasingly complex mix of partners, processes, and technologies.
Pervasive digital technology is fundamentally changing the retail banking business model. Here's how banking Chief Information Officers (CIOs) need to change in order to lead the digital charge, according to our recent study.
Care Management Platforms for Population Health: Seven Real-World Best PracticesCognizant
Our experience with large platforms offers important lessons and strategies that healthcare organizations can successfully replicate when deploying a population health-oriented care management system.
Understanding the Information Architecture, Data Management, and Analysis Cha...Cognizant
As the Internet of Things (IoT) becomes increasingly prevalent, organizations must build the enterprise information architecture required to gather, manage, and analyze vast troves of rich real-time data. We offer an IoT framework, use cases, and a maturity model that helps enable you to choose an adoption approach.
Increasing Business Productivity in Connected Enterprises and an Always-On Di...Cognizant
To remain competitive, businesses must enhance productivity through a connected enterprise set of solutions. We offer a roadmap and set of tools for insuring that Gen-Now workers obtain the stateless, limitless and boundaryless computing that they need and expect in an always-on digital business world.
North American Utility Sparks Up its Complaint Handling SystemCognizant
Electric utility's new complaint handling system reduces resolution times, increases staff productivity, boosts customer satisfaction and improves regulatory compliance.
Scaling Up Smart Meter Operations: Challenges and the Way Forward for UK Ener...Cognizant
With smart meters being implemented at a rapid pace, energy utilities need to be prepared to make the best use of this opportunity. Here's a guide to possible shortfalls in the journey, and to the technical, operational and organizational capabilities utilities need to thrive in the digital smart metering era.
How Blockchain Can Help Retailers Fight Fraud, Boost Margins and Build BrandsCognizant
Using blockchain's distributed ledger, synchronized database and powerful encryption capabilities, along with its ability to generate smart contracts, retailers can gain early-mover advantage to more effectively collaborate and enhance trust across the value chain.
Enhancing and Sustaining Business Agility through Effective Vendor ResiliencyCognizant
Extracting continuous value from third-party vendors means methodically assessing their ability to remain best-of-breed amid ongoing technological change and ever-elevating customer expectations. Following our three guiding principles -- and proven framework -- can help.
As it incorporates a gamut of functions from business activity monitoring to performance management and business planning, business intelligence attracts a growing number of companies who earlier specialized in individual functions
Digitizing Insurance - Transforming Legacy Systems to Adopt Modern and Emergi...RapidValue
This paper explains how insurers can use the digitization (digitalization) opportunity to deliver greater value to their customers. It is also, revealed how the companies can gain competitive advantage. Insurers are able to engage more intensely with the existing customers and also, attract newer customers with the help of innovative products. Digitizing improves profitability and facilitates growth.
Do companies with more user-friendly and accessible enterprise resource planning (ERP) systems enjoy more positive business outcomes?
Are they more profitable?
Do highly effective ERP systems help create a sharper upswing of revenue growth?
How much difference does effective data really make to business success?
The Briefing Room with Lyndsay Wise and Tableau Software
Live Webcast on Jan. 15, 2013
While Big Data continues to grab headlines, most information managers know there are many more “small” data sets that are becoming more valuable for gaining insights. That’s partly because business users are getting savvier at mixing and matching all kinds of data, big and small. One key success factor is the ability create compelling visualizations that clearly show patterns in the data.
Check out this episode of The Briefing Room to hear Analyst Lindsay Wise share insights about best practices for designing data visualization mashups. She’ll be briefed by Ellie Fields of Tableau Software who will demonstrate several different business use cases in which such mashups have proven critical for generating significant business value.
Visit: http://www.insideanalysis.com
Software companies have been moving into the payments space over the last few years in a major way. A number of vertical software companies have embedded payments functionality into their solutions – creating a better experience for end-users, businesses and their customers – and are capturing economics in the process. Other software companies have built payments solutions addressing vertical specific pain points. In doing so, they have been able to take market share from generic horizontal providers and open greenfield opportunities.
Catalyst has a wealth of experience backing businesses in this space (MindBody, ChowNow, Weave, and WeddingWire, among others). We believe we will see this trend continue to accelerate for years to come and are eager to partner with more of these businesses seeking growth equity capital.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator or investor in a growth stage Vertical Payments Software company, we would like to hear from you. Please send inquiries and business plans to kirk@catalyst.com & grady@catalyst.com.
How ‘Big Data’ Can Create Significant Impact on Enterprises? Part I: Findings...IJERA Editor
Big data is the latest buzz word in the BI domain, and is increasingly gaining traction amongst enterprises. The prospect of gaining highly targeted business and market insight from unmanageable and unstructured data sets is creating huge adoption potential for such solutions. The scope of big data moves beyond conventional enterprise databases to more open environments, covering new sources of information typically relating to various social networking sites, wikis and blogs. Moreover, advancements in communications and M2M technologies are also contributing to the massive availability of big data
North American Utility Sparks Up its Complaint Handling SystemCognizant
Electric utility's new complaint handling system reduces resolution times, increases staff productivity, boosts customer satisfaction and improves regulatory compliance.
Scaling Up Smart Meter Operations: Challenges and the Way Forward for UK Ener...Cognizant
With smart meters being implemented at a rapid pace, energy utilities need to be prepared to make the best use of this opportunity. Here's a guide to possible shortfalls in the journey, and to the technical, operational and organizational capabilities utilities need to thrive in the digital smart metering era.
How Blockchain Can Help Retailers Fight Fraud, Boost Margins and Build BrandsCognizant
Using blockchain's distributed ledger, synchronized database and powerful encryption capabilities, along with its ability to generate smart contracts, retailers can gain early-mover advantage to more effectively collaborate and enhance trust across the value chain.
Enhancing and Sustaining Business Agility through Effective Vendor ResiliencyCognizant
Extracting continuous value from third-party vendors means methodically assessing their ability to remain best-of-breed amid ongoing technological change and ever-elevating customer expectations. Following our three guiding principles -- and proven framework -- can help.
As it incorporates a gamut of functions from business activity monitoring to performance management and business planning, business intelligence attracts a growing number of companies who earlier specialized in individual functions
Digitizing Insurance - Transforming Legacy Systems to Adopt Modern and Emergi...RapidValue
This paper explains how insurers can use the digitization (digitalization) opportunity to deliver greater value to their customers. It is also, revealed how the companies can gain competitive advantage. Insurers are able to engage more intensely with the existing customers and also, attract newer customers with the help of innovative products. Digitizing improves profitability and facilitates growth.
Do companies with more user-friendly and accessible enterprise resource planning (ERP) systems enjoy more positive business outcomes?
Are they more profitable?
Do highly effective ERP systems help create a sharper upswing of revenue growth?
How much difference does effective data really make to business success?
The Briefing Room with Lyndsay Wise and Tableau Software
Live Webcast on Jan. 15, 2013
While Big Data continues to grab headlines, most information managers know there are many more “small” data sets that are becoming more valuable for gaining insights. That’s partly because business users are getting savvier at mixing and matching all kinds of data, big and small. One key success factor is the ability create compelling visualizations that clearly show patterns in the data.
Check out this episode of The Briefing Room to hear Analyst Lindsay Wise share insights about best practices for designing data visualization mashups. She’ll be briefed by Ellie Fields of Tableau Software who will demonstrate several different business use cases in which such mashups have proven critical for generating significant business value.
Visit: http://www.insideanalysis.com
Software companies have been moving into the payments space over the last few years in a major way. A number of vertical software companies have embedded payments functionality into their solutions – creating a better experience for end-users, businesses and their customers – and are capturing economics in the process. Other software companies have built payments solutions addressing vertical specific pain points. In doing so, they have been able to take market share from generic horizontal providers and open greenfield opportunities.
Catalyst has a wealth of experience backing businesses in this space (MindBody, ChowNow, Weave, and WeddingWire, among others). We believe we will see this trend continue to accelerate for years to come and are eager to partner with more of these businesses seeking growth equity capital.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator or investor in a growth stage Vertical Payments Software company, we would like to hear from you. Please send inquiries and business plans to kirk@catalyst.com & grady@catalyst.com.
How ‘Big Data’ Can Create Significant Impact on Enterprises? Part I: Findings...IJERA Editor
Big data is the latest buzz word in the BI domain, and is increasingly gaining traction amongst enterprises. The prospect of gaining highly targeted business and market insight from unmanageable and unstructured data sets is creating huge adoption potential for such solutions. The scope of big data moves beyond conventional enterprise databases to more open environments, covering new sources of information typically relating to various social networking sites, wikis and blogs. Moreover, advancements in communications and M2M technologies are also contributing to the massive availability of big data
A web social criou novas formas de comunicação e colaboração na internet. Esta mudança permitiu que usuários pudessem criar e compartilhar conteúdo, interagindo e colaborando entre si. Atualmente, busca-se pela interoperabilidade semântica através de tecnologias que permitam o compartilhamento, o reuso e a compreensão da informação por parte de máquinas e serviços.
A apresentação pretende discutir sobre tecnologias, aplicações e desafios da web semântica na perspectiva da inteligência artificial em contextos educacionais.
Quieres dejar de procrastinar de una vez por todas? Pasar a la acción, para eso desde Mas y Mejor vamos a ayudarte a conseguir doblegar tu fuerza de voluntad para tener mas productividad
La planificación urbana sostenible1
(Sustainable urban planning)
Echebarría Miguel, Carmen; Aguado Moralejo, Itziar
Univ. del País Vasco. Fac. de CC. Económicas y Empresariales.
Avda. Lehendakari Agirre, 83. 48015 Bilbao
En la sociedad en la que nos encontramos, en continuo proceso urbanizador,
la forma de construir ciudades influye directamente sobre el medio ambiente
urbano y la calidad de vida de sus ciudadanos. En las ciudades conviven diversos
modelos de estructura (centros históricos, ensanches, polígonos, urbanizaciones
y áreas de edificación dispersa), junto a nuevas tendencias de extensión
y renovación. El desarrollo de las últimas décadas ha introducido una separación
extrema de funciones por barrios, la urbanización discontinua y la ocupación
extensiva del territorio. Estos cambios, están creando nuevos y graves problemas
de habitabilidad y sostenibilidad, junto al despilfarro de suelo e infraestructura y
la elevación de los costes de suministro de servicios (electricidad, agua, transporte
público, etc.). Este encarecimiento de los costes de vida incide en una
segregación de las clases sociales y en la concentración de la pobreza y las
situaciones de marginalidad en ciertos barrios. De hecho, en la actualidad estamos
siendo testigos de crecientes procesos de polarización y exclusión social y
de un sistema urbano caracterizado por importantes desequilibrios a nivel socioespacial.
En consecuencia, para conseguir una ciudad sostenible, no sólo se han de
tener en cuenta las cuestiones económicas y medioambientales, sino que
también hay que considerar los aspectos sociales. Por ello, aunque se interviene
constantemente sobre la ciudad con nuevas políticas y actuaciones, no
siempre el diseño de dichas políticas contempla las oportunas medidas
sociales correctoras, especialmente las dirigidas a los grupos y las áreas más
vulnerables.
Nuestra intención, en esta comunicación, es realizar un recorrido por los diferentes
instrumentos de planificación urbana y de ordenación territorial que sirven
de herramienta para una gestión local más eficiente. En definitiva, lo que se
plantea es el estudio de las distintas realidades socio-espaciales existentes dentro
de los municipios vascos en términos de sostenibilidad y de los distintos instrumentos
de planificación para paliar los efectos negativos derivados de este
proceso urbanizador.
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Property & Casualty Commercial Lines Underwriting: The New PlaybookCognizant
P&C commercial lines carriers are experiencing a global transformation that will compel them to reexamine their operating models, implement direct-to-consumer strategies, reengineer their processes and technologies, and achieve and sustain profitable growth in the age of digital.
We conducted a groundbreaking survey of the UK’s data and business professionals to get a snapshot of the state of the world of data, uncover some of the issues facing the industry and get a sense of the changes on the horizon. The results were enlightening, and in some cases, very surprising.
Find out:
Why nearly a third of IT Directors feel their organisation uses data poorly
What the hybrid data manager of the future will look like
Why understanding customer behaviour remains the holy grail for so many
We conducted a ground-breaking survey of the UK’s data and business professionals to get a snapshot of the state of the world of data, uncover some of the issues facing the industry and get a sense of the changes on the horizon. The results were enlightening, and in some cases, very surprising.
We conducted a survey of the UK's data and business professionals to get a snapshot of the state of the world of data, uncover some of the issues facing the industry and get a sense of the changes on the horizon. The results were enlightening, and in some cases, very surprising.
Big & Fast Data: The Democratization of InformationCapgemini
Moving from the Enterprise Data Warehouse to the Business Data Lake
Is it possible that ubiquitous analytics represents the next phase of the information age? New business models are emerging, enabled by big data that business leaders are eager to adopt in order to gain advantage and mitigate disruption from start-ups and parallel industries. The winners are likely to be those that master a cultural shift as well as a technology evolution.
Our view is this will be realized through the alignment of a business-centric big data strategy, combined with democratization of the analytical tools, platforms and data lakes that will enable business stakeholders to create, industrialize and integrate insights into their business processes.
Innovative approaches are needed to free up data from silos whilst encouraging both the sharing and the continuous improvement of insights across the business. While it will be evolution for some, revolution for others; the risk of status quo is not just the loss of opportunity but also a widening gap between business and the internal technology functions.
https://www.capgemini.com/thought-leadership/big-fast-data-the-democratization-of-information
The need, applications, challenges, new trends and
a consulting perspective
(Why is Big Data a strategic need for optimization of organizational processes especially in the business domains and what is the consultant’s role?)
With every transaction and activity, organizations churn out data. This process happens even in the case of idle operation. Hence, data needs to be effectively analyzed to manage all processes better. Data can be used to make sense of the current situation and predict outcomes. It also can be used to optimize business processes and operations. This is easier said than done as data is being produced at an unprecedented rate, huge volumes and a high degree of variety. For the outcome of the data analysis to be relevant, all the data sets must be factored in to the analysis and predictions. This is where big data analysis comes in with its sophisticated tools that are also now easy on the pocket if one prefers the open source.
The future of high potential marketing lead generation would be based on big data. Virtually every business vertical can benefit from big data initiatives. Even those without deep pockets can use the cloud model for business analytics/big data analysis.
Some challenges remain to be addressed to engender large scale adoption but the current benefits outweigh the concerns.
India has seen a massive growth in big data adoption and the trend will grow though it is generally amongst the bigger players. As quality of data improves and customer reluctance to being honest when they volunteer data reduces, the forecasts will become more accurate and Big Data will have come to its rightful place as a key enabler.
The new ‘A and B’ of the Finance Function: Analytics and Big Data - -Evolutio...Balaji Venkat Chellam Iyer
Published in 2013, this White Paper discusses how the finance function would evolve with the combined forces of Big Data and Analytics and the levers that could help catalyze the change and has drawn upon the Global Trend Study conducted by Tata Consultancy Services (TCS) on how companies were investing in Big Data and deriving returns from it.
Marketing & SalesBig Data, Analytics, and the Future of .docxalfredacavx97
Marketing & Sales
Big Data, Analytics,
and the Future of
Marketing & Sales
March 2015
3McKinseyonMarketingandSales.com @McK_MktgSales
Table of contents
Business
Opportunities
Insight and
action
How to get
organized and
get started
8 Getting big impact from big
data
16 Big Data & advanced
analytics: Success stories
from the front lines
20 Use Big Data to find
new micromarkets
24 Smart analytics: How
marketing drives short-term
and long-term growth
30 Putting Big Data and
advanced analytics to work
34 Know your customers
wherever they are
38 Using marketing analytics to
drive superior growth
48 How leading retailers turn
insights into profits
56 Five steps to squeeze more
ROI from your marketing
60 Using Big Data to make
better pricing decisions
60 Marketing’s age of relevance 72 Gilt Groupe: Using Big Data,
mobile, and social media to
reinvent shopping
76 Under the retail microscope:
Seeing your customers for
the first time
80 Name your price: The power
of Big Data and analytics
84 Getting beyond the buzz: Is
your social media working?
90 How to get the most from big
data
94 Five Roles You Need on Your
Big Data Team
98 Want big data sales programs
to work? Get emotional
102 Get started with Big Data:
Tie strategy to performance
106 What you need to make Big
Data work: The pencil
110 Need for speed: Algorithmic
marketing and customer
data overload
114 Simplify Big Data – or it’ll be
useless for sales
54 McKinseyonMarketingandSales.com @McK_MktgSales
Introduction
Big Data is the biggest hame-changing opportunity for marketing and sales
since the Internet went mainstream almost 20 years ago. The data big bang
has unleashed torrents of terabytes about everything from customer behaviors
to weather patterns to demographic consumer shifts in emerging markets.
The companies who are successful in turning data into above-market growth
will excel at three things:
ƒ Using analytics to identify valuable business opportunities from the data to
drive decisions and improve marketing return on investment (MROI)
ƒ Turning those insights into well-designed products and offers that delight
customers
ƒ Delivering those products and offers effectively to the marketplace.
This goldmine of data represents a pivot-point moment for marketing and
sales leaders. Companies that inject big data and analytics into their operation
show productivity rates and profitability that are 5 percent to 6 percent hight
than those of their peers. That’s an advantage no company can afford to
gnome.
This compendium explores the business opportunities, company examples,
and organizational implications of Big Data and advanced analytics. We hope
it provokes good and useful conversations.
Please contact us with your reactions and thoughts.
David Court
Director
David headed McKinsey’s
functional practices, and
currently leads the firm’s digital
in.
Analytics Isn’t Enough To Create A Data–Driven CultureaNumak & Company
The earned values are perhaps compatible with older technologies. As we believe big data and AI are extensions of analytical capabilities, the most common and most likely to succeed are those related to "advanced analytics and better decisions."
Using Adaptive Scrum to Tame Process Reverse Engineering in Data Analytics Pr...Cognizant
Organizations rely on analytics to make intelligent decisions and improve business performance, which sometimes requires reproducing business processes from a legacy application to a digital-native state to reduce the functional, technical and operational debts. Adaptive Scrum can reduce the complexity of the reproduction process iteratively as well as provide transparency in data analytics porojects.
It Takes an Ecosystem: How Technology Companies Deliver Exceptional ExperiencesCognizant
Experience is evolving into a strategy that reaches across technology companies. We offer guidance on the rise of experience and its role in business modernization, with details on how orgnizations can build the ecosystem to support it.
The Work Ahead: Transportation and Logistics Delivering on the Digital-Physic...Cognizant
The T&L industry appears poised to accelerate its long-overdue modernization drive, as the pandemic spurs an increased need for agility and resilience, according to our study.
Enhancing Desirability: Five Considerations for Winning Digital InitiativesCognizant
To be a modern digital business in the post-COVID era, organizations must be fanatical about the experiences they deliver to an increasingly savvy and expectant user community. Getting there requires a mastery of human-design thinking, compelling user interface and interaction design, and a focus on functional and nonfunctional capabilities that drive business differentiation and results.
The Work Ahead in Manufacturing: Fulfilling the Agility MandateCognizant
According to our research, manufacturers are well ahead of other industries in their IoT deployments but need to marshal the investment required to meet today’s intensified demands for business resilience.
The Work Ahead in Higher Education: Repaving the Road for the Employees of To...Cognizant
Higher-ed institutions expect pandemic-driven disruption to continue, especially as hyperconnectivity, analytics and AI drive personalized education models over the lifetime of the learner, according to our recent research.
Engineering the Next-Gen Digital Claims Organisation for Australian General I...Cognizant
In recent years, insurers have invested in technology platforms and process improvements to improve
claims outcomes. Leaders will build on this foundation across the claims landscape, spanning experience,
operations, customer service and the overall supply chain with market-differentiating capabilities to
achieve sustainable results.
Profitability in the Direct-to-Consumer Marketplace: A Playbook for Media and...Cognizant
Amid constant change, industry leaders need an upgraded IT infrastructure capable of adapting to audience expectations while proactively anticipating ever-evolving business requirements.
Green Rush: The Economic Imperative for SustainabilityCognizant
Green business is good business, according to our recent research, whether for companies monetizing tech tools used for sustainability or for those that see the impact of these initiatives on business goals.
Policy Administration Modernization: Four Paths for InsurersCognizant
The pivot to digital is fraught with numerous obstacles but with proper planning and execution, legacy carriers can update their core systems and keep pace with the competition, while proactively addressing customer needs.
The Work Ahead in Utilities: Powering a Sustainable Future with DigitalCognizant
Utilities are starting to adopt digital technologies to eliminate slow processes, elevate customer experience and boost sustainability, according to our recent study.
AI in Media & Entertainment: Starting the Journey to ValueCognizant
Up to now, the global media & entertainment industry (M&E) has been lagging most other sectors in its adoption of artificial intelligence (AI). But our research shows that M&E companies are set to close the gap over the coming three years, as they ramp up their investments in AI and reap rising returns. The first steps? Getting a firm grip on data – the foundation of any successful AI strategy – and balancing technology spend with investments in AI skills.
Operations Workforce Management: A Data-Informed, Digital-First ApproachCognizant
As #WorkFromAnywhere becomes the rule rather than the exception, organizations face an important question: How can they increase their digital quotient to engage and enable a remote operations workforce to work collaboratively to deliver onclient requirements and contractual commitments?
Five Priorities for Quality Engineering When Taking Banking to the CloudCognizant
As banks move to cloud-based banking platforms for lower costs and greater agility, they must seamlessly integrate technologies and workflows while ensuring security, performance and an enhanced user experience. Here are five ways cloud-focused quality assurance helps banks maximize the benefits.
Getting Ahead With AI: How APAC Companies Replicate Success by Remaining FocusedCognizant
Changing market dynamics are propelling Asia-Pacific businesses to take a highly disciplined and focused approach to ensuring that their AI initiatives rapidly scale and quickly generate heightened business impact.
The Work Ahead in Intelligent Automation: Coping with Complexity in a Post-Pa...Cognizant
Intelligent automation continues to be a top driver of the future of work, according to our recent study. To reap the full advantages, businesses need to move from isolated to widespread deployment.
The Work Ahead in Intelligent Automation: Coping with Complexity in a Post-Pa...
Driving Value Through Data Analytics: The Path from Raw Data to Informational Wisdom
1. Driving Value Through Data
Analytics: The Path from Raw Data to
Informational Wisdom
Massive amounts of data can be operational and marketing game
changers, but only if organizations create value by applying analytics
to understand the past, predict the future, align findings with
business strategy and define outcomes.
Executive Summary
In today’s digital world, every action translates
into a data footprint, fueling a vast expansion of
metadata ripe for mining the meanings within.
In fact, the digital universe is approaching the
physical universe in its size and complexity.
According to data storage vendor EMC, by
2020 there will be nearly as many digital bits in
existence as there are stars in the universe, with
the data we create and copy annually reaching 44
zettabytes, or 44 trillion gigabytes.1
Harnessing all this data can be a daunting, even
intimidating, proposition for most organizations.
But the fact is, to substantially outperform industry
peers, organizations need to embrace an ana-
lytics-driven culture, one that requires a detailed
business strategy, highly focused management
and a willingness to adapt and change. Analytics
is the key to driving value through data. Otherwise,
data is nothing but noise.
This white paper explores the advantages of
understanding data, and how that understand-
ing can benefit all aspects of a company’s culture.
Essentially, it also provides a blueprint for “the
data journey” – how enterprises can make sense
of today’s unrelenting deluge of data; how this
data can be converted to successful business
outcomes; and how this journey – a continually
reiterative one – can be applied to map out the
best courses of action.
Data Provides Value Via Analytics
We are living in a world without boundaries, where
virtually every activity, interaction, transaction
and communication is digital. The resulting accu-
mulation of data is not merely “big,” but rather has
now reached a magnitude that should be termed
“colossal.” Many organizations are swimming in
a deluge of data but those that have figured out
how to harness and unlock business value from its
essence – what we call Code HaloTM
thinking2
– are
not only realizing meaningful benefits but also are
leading their markets.
Deriving value from data requires that the data
be examined from multiple dimensions. Data can
cognizant 20-20 insights | march 2016
• Cognizant 20-20 Insights
2. cognizant 20-20 insights 2
prove to be a key driver of competitive advantage
and growth, but only if accurate and complete
data is combined with in-depth analysis. This,
in turn, can produce actionable insights, better
decisions, increased ROI, cost savings, increased
profitability and improved processes.
Data can prove to be a key basis of competition
and growth. Its value can primarily be classified
as “information,” “knowledge” or “wisdom” (see
Figure 1). Analytics addresses such consider-
ations as what and why, as well as what will and
what should be done. Answering these questions
can uncover optimal courses of action, but only
if organizations make up-front investments in
complex modeling, the latest tools and technolo-
gies and the talents of highly skilled personnel.
The Data Journey
Many organizations are overwhelmed by data
because they fail to develop the right strategy to
derive benefits from it. In fact, most organizations
fail to look at all the aspects of colossal data col-
lectively, and instead seek to implement individual
point solutions to address specific issues. Organi-
zations need to think strategically and work col-
laboratively to realize the value of data in driving
business outcomes.
Data, value and analytics are directly proportional
to each other. With the immense growth of data,
organizations can realize higher value only if the
depth of analytics is increased. Figure 1 illustrates
this point.
Data can prove to be a key basis
of competition and growth.
Its value can primarily be
classified as “information,”
“knowledge” or “wisdom.”
Extracting Ever-Greater Value from the Flood of Data
Figure 1
Prescriptive
Predictive
Descriptive/
Diagnostic
Knowledge
Information
Regular
Big
Colossal
DATA SCALE
DEPTHOFANALYSIS
Wisdom
VALUE OF
ANALYSIS
3. cognizant 20-20 insights 3
Let’s consider the meaning of this chart, and the
challenges it poses for the modern organization.
• Data growth is a journey. Data is central to
any decision or action. It is required to define
a proper progression towards success. Since
data is nearing colossal status, smarter data
collection is necessary to obtain both historical
and predictive insights. But as the chart shows,
movingupwardstowardstrulycolossalamounts
of data demands analytics that produces both
predictive and prescriptive information. It also
produces wise business decisions.
• Every piece of data has value. The collection
of data alone cannot change an organiza-
tion’s performance. Businesses need to follow,
collect and store all of it, and they need to filter
out noise to derive value. This value can be
classified as follows:
>> Information, which provides details about
what already has been done and accom-
plished.
>> Knowledge, which comes from the insights
gained from data that explain why something
happened or future outcomes.
>> Wisdom, based on historical data, which
informs future actions.
• Depth of analysis drives business outcomes.
Once a strong data foundation is built, the
next logical step is to run analytics to obtain
actionable insights to enable decision-mak-
ing and produce business growth. What kind
of in-depth analysis is possible with today’s
modern technologies? They range from the
simple to the truly informed:
>> Descriptive, a form of standard reporting
that provides information about what
already has happened in a campaign or
other business operation.
>> Diagnostic, which mines data to understand
why something happened, whether good or
bad.
>> Predictive, a kind of analysis that leverages
statistical models and algorithms to better
understand previous actions, and thus better
predict what is likely to happen next.
>> Prescriptive, the pinnacle of data analytics,
produces a synergy of data, business and
mathematics to define the best course of
future action.
Looking Forward: How to Be a Winner
How can an organization move to the next level,
to become a high-performing analytics machine?
[Note: This is not merely for technology’s sake but
rather to reap the extreme value of data analytics
and the benefits that come from a predictive and
wise approach to decision-making.]
Numerous challenges arise as organizations
transition towards becoming analytics-driven.
Moreover, there are distinct parameters that
separate leaders from followers. Organizations
need to understand each parameter and ensure
they have in place an integrated strategy towards
becoming analytics-driven. These include:
• Intent: Many organizations embark on a data
analytics journey but very few succeed. One of
the main reasons is the lack of management
support. To become an analytics-driven organi-
zation, a cultural shift is required that involves
strategy and focus. The CEO and other C-level
managers must describe how to make an
analytics culture part of the organization’s
DNA, to ensure that everything is aligned,
including the business’s vision, changing
trends, and internal services and processes.
Industry leaders who realize this are realigning
their businesses around data and technology.
(For more on this topic, read our white paper
“How to Create a Data Culture.”)
>> Case in point: A strategic commitment to
data. A telecom start-up envisioned creating
a client base of 100 million customers, and in
the process delivering an enriched customer
experience. To do this, the company not
only invested in world-class telecom infra-
structure but it also committed to creating
a data-driven organization that leverages
cutting-edge technology. This strategic
vision of management resulted in the devel-
opment of an interactive business intel-
Once a strong data foundation is
built, the next logical step is to
run analytics to obtain actionable
insights to enable decision-making
and produce business growth.
The CEO and other C-level managers
must describe how to make an
analytics culture part of the
organization’s DNA, to ensure that
everything is aligned, including the
business’s vision, changing trends, and
internal services and processes.
4. ligence platform to perform diagnostic
and predictive analytics on both unstruc-
tured and structured data. The company’s
commitment from its inception to data,
business intelligence and analytics will
ensure a platform that is visionary, foolproof
and future-oriented.
• Data: Organizations need to have a strategic
plan to collect all relevant data that can drive
business outcomes. They need to define com-
prehensive data policy covering critical data
sources, means of data capture, data storage
and management architecture. Organizations
also must understand that this is an ongoing
process that must be continuously reviewed and
enhanced to align with ongoing business-tech-
nology trends and changing market conditions.
>> Case in point: Making data collection a
reality. When planning to launch a new
product, a multinational beverage corpora-
tion knew that a first priority was embracing
data collection that would scale to as much
as a petabyte. The company defined a cloud-
based, pay-per-use architecture featuring
real-time data acquisition, processing and
reporting on clean and consistent data.
This commitment to data collection is
providing the flexibility to handle increasing
or decreasing volumes of data over several
years from the initial product launch date,
while maintaining control over capital and
operating expenditures.
• Tools: Tools and technology are advancing
rapidly, enabling the application of analytics
across business challenges in order to grow
exponentially. Technologies such as Apache
Hadoop, not only SQL (NoSQL), MemSQL,
in-memory computing and high-performance
computing cluster (HPCC), to name a few,
enable the next generation of analytics. These
and other technologies facilitate advanced
analytics methods and techniques, such
as clustering, predictive modeling, statisti-
cal modeling and algorithms to gain deeper
insights. Here, preemptive actions can employ
advanced visualization, intelligent data
discovery, artificial intelligence and machine
learning. A multitude of options are available,
but enterprises should conduct intelligent and
careful evaluations to select the proper “fit for
purpose” tools and technologies to meet their
business needs
>> Case in point: “Good enough” is never
enough. A leading online platform, used by
millions, had become a success using tradi-
tional, contemporary technology. However,
management knew that new tools would
inevitably be required to not overwhelm
its current system, as well as to maintain
and increase its market dominance. The
company moved forward aggressively to
acquire new-age business intelligence tools,
processing 50 petabytes of data feeding
a next-generation BI platform. These new
tool sets are not only maintaining current
operating efficiency, but are also yielding
better insights into user behavior and have
emerged as the drivers of customer satis-
faction.
• People: To be a successful analytics-driven
organization, the right people are essential. If
an organization does not have the right people
who can understand its vision and make it
happen by applying advanced tools, tech-
nologies and techniques, an analytics culture
will never take hold, nor will the enterprise
achieve its fullest data-driven potential. The
right team is required to convert data into
value by using matrices, algorithms, models,
optimization and functions. And it is essential
to ensure team balance, to allow a 360-degree
feedback on data. So the ideal team should
include business analysts, data scientists and
technical specialists.
Getting Started
Enterprises that start as soon as possible have
an advantage, but since this is an evolving arena
it’s never too late to start. A good first step is to
benchmark your industry and peers to identify
what is trending, and how the explosion of data is
impacting business. Thereafter, it depends upon
your organization’s colossal data ambitions – to
dream, align, experiment and succeed by making
advanced analytics core to decision-making. To
do this an organization should:
cognizant 20-20 insights 4
If an organization does not have the
right people who can understand
its vision and make it happen by
applying advanced tools, technologies
and techniques, an analytics culture
will never take hold, nor will the
enterprise achieve its fullest data-
driven potential.