The document summarizes key points from a business analytics conference. It discusses how analytics has become more important and useful due to increased data and new tools. While analytics is helping organizations, clear business needs and leadership support are still needed to ensure insights are properly used. There is a shortage of analytics talent, and on-the-job training is critical for developing skills. India has a large share of the analytics outsourcing market but can move further up the value chain through faster delivery and challenging itself.
The 10 Most Admired Analytics Companies to Watch in 2018Merry D'souza
"We introduce “The 10 Most Admired Analytics Companies to Watch in 2018”, in order to assist businesses to choose their right analytics companies. Assessing the scenario in versatile perceptions, our magazine has brought light onto the companies, who have flaunted excellence in providing technologically advanced analytics solutions. This list showcases the analytics companies which are creating a better ‘Analytics’ world."
The 10 Most Admired Analytics Companies to Watch in 2018Merry D'souza
We introduce “The 10 Most Admired Analytics Companies to Watch in 2018”, in order to assist businesses to choose their right analytics companies. Assessing the scenario in versatile perceptions, our magazine has brought light onto the companies, who have flaunted excellence in providing technologically advanced analytics solutions. This list showcases the analytics companies which are creating a better ‘Analytics’ world.
Building for the future: Why predictive analytics matter nowWilliam Gaker
The field of people analytics is growing rapidly, but the majority of teams have been started within the last 5 years. As the field continues to grow, there is a need for a unified vision across the field for what the end product looks like. It is crucial to build a vision for your team centered around predictive analytics as you lay the foundation in the early days of your team. A unified team vision will give you a greater impact by creating role clarity, prioritizing your efforts, and building you brand within your organization.
How to Build an HR Analytics Center of ExcellenceAPEX Global
Using analytics to turn data into insights regularly provides strategic advantage to all areas of organizations, from marketing to supply chain management and finance.
The formation of an HR Analytics Center of Excellence can enable firms to derive strategic insights from workforce data and justify the investments made in HR programs and technology.
The leaders of LinkedIn’s People Analytics team, Lorenzo Canlas and Will Gaker, walk through what people analytics is, how it’s growing & evolving, and how you can build your own people analytics function today. Check out their keynote presentation from the Wharton People Analytics Conference in April 2015.
Learn more about people analytics and data-driven recruiting: http://linkd.in/1KJMC8D
People Analytics: Improving the Employee Experience and ProductivityDr Susan Entwisle
It is true today more than any point in history that talent is a company’s greatest asset. To thrive in our hyper competitive global economy, companies need the right talent to deliver exceptional customer experiences efficiently with minimal risk. Traditionally, Human Resource teams have made decisions on hiring, assigning and developing employees using experience, instinct, and basic statistical data. The same advanced analytics and machine learning techniques we use to improve the customer experience are now being used for our people. People analytics provides insights and enables better and faster data-driven decision making across all aspects of people at work.
Topics covered in this presentation include:
How analytics has changed the customer experience.
Current state of employee engagement and its impact.
Limitations of cognitive decision making process.
What is people analytics?
How companies are using people analytics today?
Challenges in adoption of people analytics.
Guidance to get started on people analytics journey.
The 10 Most Admired Analytics Companies to Watch in 2018Merry D'souza
"We introduce “The 10 Most Admired Analytics Companies to Watch in 2018”, in order to assist businesses to choose their right analytics companies. Assessing the scenario in versatile perceptions, our magazine has brought light onto the companies, who have flaunted excellence in providing technologically advanced analytics solutions. This list showcases the analytics companies which are creating a better ‘Analytics’ world."
The 10 Most Admired Analytics Companies to Watch in 2018Merry D'souza
We introduce “The 10 Most Admired Analytics Companies to Watch in 2018”, in order to assist businesses to choose their right analytics companies. Assessing the scenario in versatile perceptions, our magazine has brought light onto the companies, who have flaunted excellence in providing technologically advanced analytics solutions. This list showcases the analytics companies which are creating a better ‘Analytics’ world.
Building for the future: Why predictive analytics matter nowWilliam Gaker
The field of people analytics is growing rapidly, but the majority of teams have been started within the last 5 years. As the field continues to grow, there is a need for a unified vision across the field for what the end product looks like. It is crucial to build a vision for your team centered around predictive analytics as you lay the foundation in the early days of your team. A unified team vision will give you a greater impact by creating role clarity, prioritizing your efforts, and building you brand within your organization.
How to Build an HR Analytics Center of ExcellenceAPEX Global
Using analytics to turn data into insights regularly provides strategic advantage to all areas of organizations, from marketing to supply chain management and finance.
The formation of an HR Analytics Center of Excellence can enable firms to derive strategic insights from workforce data and justify the investments made in HR programs and technology.
The leaders of LinkedIn’s People Analytics team, Lorenzo Canlas and Will Gaker, walk through what people analytics is, how it’s growing & evolving, and how you can build your own people analytics function today. Check out their keynote presentation from the Wharton People Analytics Conference in April 2015.
Learn more about people analytics and data-driven recruiting: http://linkd.in/1KJMC8D
People Analytics: Improving the Employee Experience and ProductivityDr Susan Entwisle
It is true today more than any point in history that talent is a company’s greatest asset. To thrive in our hyper competitive global economy, companies need the right talent to deliver exceptional customer experiences efficiently with minimal risk. Traditionally, Human Resource teams have made decisions on hiring, assigning and developing employees using experience, instinct, and basic statistical data. The same advanced analytics and machine learning techniques we use to improve the customer experience are now being used for our people. People analytics provides insights and enables better and faster data-driven decision making across all aspects of people at work.
Topics covered in this presentation include:
How analytics has changed the customer experience.
Current state of employee engagement and its impact.
Limitations of cognitive decision making process.
What is people analytics?
How companies are using people analytics today?
Challenges in adoption of people analytics.
Guidance to get started on people analytics journey.
58 Quotes, Facts, Benchmarks, and Best Practices on People and AnalyticsHarrison Withers
For the last 18 months, the consulting team at Media 1 has read tens of thousands of pages of research, presentations, and white papers on analytics as it relates to people and performance. When we came across especially interesting content, we added it to a master list of resources. The following 58 Quotes, Facts, Benchmarks, and Best Practices on People and Analytics where curated from that list in the hopes that people will use them in support of creating great places to work.
The Role of HR in Reinventing Organisations: Embracing People AnalyticsGlass Bead Consulting
Presentation given at Workforce Analytics Summit in Sydney, Australia on 5th May 2016. #WFAS2016
What features will successful organisations have in the future?
What impact will this have on HR and People Management?
What are the main opportunities of the Quantified Workplace?
Why has HR struggled with transforming itself?
What are the main challenges with our current HR Operating
models?
What are challenges of People Analytics and how do we
overcome them?
How can People Analytics help transform HR?
Lorenzo Canlas, Head, Talent Analytics, LinkedIn
People analytics helps businesses make evidence-based talent decisions for all phases of the employee lifecycle. The field is new and everyone is getting into it: approximately 5,000 companies have people analytics departments, with more than 50% having been created in the past five years. In this session, Lorenzo will share LinkedIn’s journey with building their own people analytics function, including the evolution of their infrastructure and technology, organization design, and their leapfrog strategy of focusing on delivering business value while building out a data infrastructure. Attendees will learn the values of people analytics to business problems, how to build out a people analytics team and a maturity model for the team.
Check out the best of Talent Connect: http://bit.ly/1MBqz6m
How Talent Analytics Can Help You Maximize Your HR StrategyGlassdoor
For most organizations, the promise of Big Data remains unfulfilled. The vast majority of organizations are stuck in a reporting cycle, churning out lots of metrics, but few insights or solutions. The ability to measure, analyze, and optimize talent practices is now critical to business success.
Many HR organizations have recognized this need and are starting to invest more strategically in measurement and analytics. With a plethora of data, recruiting is an area ripe to take advantage of analytics. With the right tools and capabilities, this data can be turned into competitive advantage.
Check out our webinar feat. Karen O'Leonard, VP of Benchmarking & Analytics Research of Bersin by Deloitte and Wiliam Blackstorm, Sr. Manager Sourcing & Market Intelligence & Director of Global Talent Analytics, Research Division of Cisco to learn:
-Where to start when analyzing recruitment data
-How to build an effective talent analytics capability
-How one organization, Cisco, is using analytics to develop a more effective recruitment strategy
Gramener is always on the lookout for talent who like to work with numbers and aspire to be the Algorithm Translators.
This deck is presented to cohorts at IIM's and other B School as part of Gramener company overview session.
Nulearn provides an Opportunity to get Hr analytics certification from IIM Rohtak under India's Top faculties. Get Industry interactions, end term projects and more.
Building Partnership to Tell Great StoriesWilliam Gaker
Building Partnership to Tell Great Stories was a keynote I gave at the Talent Management Alliance Conference in 2013.
The topic covered my training approach for helping HR Business Partners learn to leverage the products and services of new analytics teams in HR.
A slide deck from a keynote at:
The Talent Management Alliance Conference
Las Vegas, NV
May 2013
Companies of all sizes are struggling to manage the massive amounts of data related to human resource management. This program will examine the various solutions technology offers to deal with this challenge, and provide examples to increase department efficiency while adding strategic value to the business. The following objectives will be covered during this presentation:
- Learn about the current and future trends in HR technology, including Employee Self Service, Business Intelligence, and Social Media.
- Discover how to harness technology to make strategic business decisions
- Learn how to turn data into knowledge through Key Performance Indicators, Dashboards, and other metrics.
- Learn how to develop a solid business case for HR technology.
As the complexity of workforce challenges continues to rise, so has the demand for more quantitative approaches to solving tough people-related challenges in organizations. To better understand the state of affairs in workforce analytics, we spoke with over 40 game changers to discover the problems they are trying to solve, the approaches they are using and the pitfalls they’ve encountered.
Get your Insider’s Guide to Workforce Analytics. Learn the definitions of key terms, see examples of metrics and analytics, and discover how to measure your company’s workforce analytics maturity. Plus, learn about common approaches to workforce analytics and hear case studies of analytics in action.
A Playbook for Diversity Analytics and Strategy DevelopmentWilliam Gaker
Diversity and Inclusion is an increasingly important topic for organizations; however, these initiatives are often misaligned across HR functions and not designed to address specific gaps.
This presentation makes the case that organizations should view the workforce as an integrated systems, use analytics to identify gaps in diversity, and create holistic strategies to address those gaps.
How to set up an artificial intelligence center of excellence in your organiz...Yogesh Malik
Setting up a COE ( Center of Excellence ) for AI ( Artificial Intelligence ) could be a daunting task. Lack of skills and quality data sets could hold you back. But still you should not wait any longer and start with what you have, build skills by training people, and move ahead in gettering executive approval for building an artificial intelligence center of excellence
This AI business checklist is a tool that provides an easy-to-use structure for strategic discussions, goal setting and critical decisions in your leadership team. A structure that you can use as a business leader to guide your decisions towards getting full value out of AI technology in your organisation. It is meant to be a tool that you can return to to guide your progress.
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."
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
58 Quotes, Facts, Benchmarks, and Best Practices on People and AnalyticsHarrison Withers
For the last 18 months, the consulting team at Media 1 has read tens of thousands of pages of research, presentations, and white papers on analytics as it relates to people and performance. When we came across especially interesting content, we added it to a master list of resources. The following 58 Quotes, Facts, Benchmarks, and Best Practices on People and Analytics where curated from that list in the hopes that people will use them in support of creating great places to work.
The Role of HR in Reinventing Organisations: Embracing People AnalyticsGlass Bead Consulting
Presentation given at Workforce Analytics Summit in Sydney, Australia on 5th May 2016. #WFAS2016
What features will successful organisations have in the future?
What impact will this have on HR and People Management?
What are the main opportunities of the Quantified Workplace?
Why has HR struggled with transforming itself?
What are the main challenges with our current HR Operating
models?
What are challenges of People Analytics and how do we
overcome them?
How can People Analytics help transform HR?
Lorenzo Canlas, Head, Talent Analytics, LinkedIn
People analytics helps businesses make evidence-based talent decisions for all phases of the employee lifecycle. The field is new and everyone is getting into it: approximately 5,000 companies have people analytics departments, with more than 50% having been created in the past five years. In this session, Lorenzo will share LinkedIn’s journey with building their own people analytics function, including the evolution of their infrastructure and technology, organization design, and their leapfrog strategy of focusing on delivering business value while building out a data infrastructure. Attendees will learn the values of people analytics to business problems, how to build out a people analytics team and a maturity model for the team.
Check out the best of Talent Connect: http://bit.ly/1MBqz6m
How Talent Analytics Can Help You Maximize Your HR StrategyGlassdoor
For most organizations, the promise of Big Data remains unfulfilled. The vast majority of organizations are stuck in a reporting cycle, churning out lots of metrics, but few insights or solutions. The ability to measure, analyze, and optimize talent practices is now critical to business success.
Many HR organizations have recognized this need and are starting to invest more strategically in measurement and analytics. With a plethora of data, recruiting is an area ripe to take advantage of analytics. With the right tools and capabilities, this data can be turned into competitive advantage.
Check out our webinar feat. Karen O'Leonard, VP of Benchmarking & Analytics Research of Bersin by Deloitte and Wiliam Blackstorm, Sr. Manager Sourcing & Market Intelligence & Director of Global Talent Analytics, Research Division of Cisco to learn:
-Where to start when analyzing recruitment data
-How to build an effective talent analytics capability
-How one organization, Cisco, is using analytics to develop a more effective recruitment strategy
Gramener is always on the lookout for talent who like to work with numbers and aspire to be the Algorithm Translators.
This deck is presented to cohorts at IIM's and other B School as part of Gramener company overview session.
Nulearn provides an Opportunity to get Hr analytics certification from IIM Rohtak under India's Top faculties. Get Industry interactions, end term projects and more.
Building Partnership to Tell Great StoriesWilliam Gaker
Building Partnership to Tell Great Stories was a keynote I gave at the Talent Management Alliance Conference in 2013.
The topic covered my training approach for helping HR Business Partners learn to leverage the products and services of new analytics teams in HR.
A slide deck from a keynote at:
The Talent Management Alliance Conference
Las Vegas, NV
May 2013
Companies of all sizes are struggling to manage the massive amounts of data related to human resource management. This program will examine the various solutions technology offers to deal with this challenge, and provide examples to increase department efficiency while adding strategic value to the business. The following objectives will be covered during this presentation:
- Learn about the current and future trends in HR technology, including Employee Self Service, Business Intelligence, and Social Media.
- Discover how to harness technology to make strategic business decisions
- Learn how to turn data into knowledge through Key Performance Indicators, Dashboards, and other metrics.
- Learn how to develop a solid business case for HR technology.
As the complexity of workforce challenges continues to rise, so has the demand for more quantitative approaches to solving tough people-related challenges in organizations. To better understand the state of affairs in workforce analytics, we spoke with over 40 game changers to discover the problems they are trying to solve, the approaches they are using and the pitfalls they’ve encountered.
Get your Insider’s Guide to Workforce Analytics. Learn the definitions of key terms, see examples of metrics and analytics, and discover how to measure your company’s workforce analytics maturity. Plus, learn about common approaches to workforce analytics and hear case studies of analytics in action.
A Playbook for Diversity Analytics and Strategy DevelopmentWilliam Gaker
Diversity and Inclusion is an increasingly important topic for organizations; however, these initiatives are often misaligned across HR functions and not designed to address specific gaps.
This presentation makes the case that organizations should view the workforce as an integrated systems, use analytics to identify gaps in diversity, and create holistic strategies to address those gaps.
How to set up an artificial intelligence center of excellence in your organiz...Yogesh Malik
Setting up a COE ( Center of Excellence ) for AI ( Artificial Intelligence ) could be a daunting task. Lack of skills and quality data sets could hold you back. But still you should not wait any longer and start with what you have, build skills by training people, and move ahead in gettering executive approval for building an artificial intelligence center of excellence
This AI business checklist is a tool that provides an easy-to-use structure for strategic discussions, goal setting and critical decisions in your leadership team. A structure that you can use as a business leader to guide your decisions towards getting full value out of AI technology in your organisation. It is meant to be a tool that you can return to to guide your progress.
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."
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.
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.
Data science skills are necessary for entrepreneurs today, irrespective of their job title. Know why data science skills are important for entrepreneurs.
We’ve worked with Executives and IT leaders for over 30 years, and the single most common complaint we hear from them is their profound frustration with the lack of results and transparency from their never-ending IT investments.
To add further complexity, the demand for digital products and services has made it increasingly difficult for organizations to make ongoing investments and balance the need for innovation with optimization.
The latest data, combined from global enterprises, big consulting and research firms, makes the case that companies need to urgently act to address the digital disruption of their business and their related skills gaps. The data shows that 70% of digital business initiatives are likely to fail to deliver business growth, due to lack of business process and product innovation, as well as poor organizational adaptability.
Poor governance and legacy product management processes to align business and IT initiatives, coupled with insufficient leadership engagement across the organization, are the main reason most companies are wasting money on IT.
This thought paper speaks to these challenges and how optimizing both technology innovation and cross-organizational engagement will accelerate the positive business outcomes that organizations are looking to achieve especially in lieu of increasing digital disruption.
Authors - Alex Adamopoulos and Bob Kantor
How An AI-Powered Trade Promotion Optimization Software Can Improve Consumer ...Gina Shaw
Artificial Intelligence (AI) will happen in both TPx and Retail Execution sooner than you probably think – Promotion Optimization Institute
According to Nielsen Holdings, 40% of Consumer Goods trade promotion spending doesn’t drive the desired results. Even though the trade promotions spend take up a lion’s share of the organizational revenue, traditionally manufacturers have always struggled in optimizing their promotion mix for the maximum bang for the buck.
With the advancements in AI technologies, it is now possible to powerfully harness data and run high-yield trade promotions.
What You Can Expect From The eBook?
1. Key Trade Promotion Optimization (TPO) challenges faced today
2. What is AI in the context of TPO?
3. How AI helps run profitable trade promotions?
4. What an AI-Powered analysis looks like?
5. Case-studies
6. How you can get started right away!
A SMART Seminar conducted on 3 May 2013 by Ian Bertram.
Leveraging information for decision making, assessing its value and ensuring frictionless sharing of information within the enterprise and beyond is what will fuel success in the current and future economy. New use cases with insatiable demand for real-time access to socially mediated and context-aware insights make information management in the 21st century dramatically different.
For more information, see http://goo.gl/a6F2c
Activate Insight | The CFO's Guide to AI and Machine Learning in FinanceProphix Software
Artificial intelligence (AI) is here. It’s not some futuristic technology that’s just over the horizon. You likely used AI today. If you talked to Siri or Alexa, searched Google or browsed social media, you officially have experience with artificial intelligence. Feel free to update your resume accordingly.
Companies need to complement their AI initiatives with governance that drives ethics and trust or these efforts will fall short of expectations, our latest research findings suggest.
2. www.imarticus.org
KEYNOTE SPEAKER
PANEL
ATTENDEES FROM:
Sameer Dhanrajani
Business Leader- Cognizant Technology Solutions
Akash Bhatia
Co-founder and CEO
Infinite Analytics and Kyazoonga
Amit Khanna
Partner and Head of Analytics
KPMG
Iqbal Kaur
Analytics Practitioner
with 17 Years Experience
Sujoy Bhattacharya
Assistant Professor
IIT Kharagpur
3. Data-rich, Information-poor and Insight starved. This is how keynote speaker Sameer
Dhanrajani describes organizations today. Indeed, in the age of Big Data, this is a powerful
paradox to kick start a Business Analytics conference attended by the who's who of the
AnalyticsworldinIndia.
Data alone is useless unless it helps you address real-time business issues. Is Analytics
helping customers solve their problem? Can I bring about strategic change in my business
using Analytics? The answer is YES! The increasing adoption of Business Analytics by not
only CXO's but also by heads of business and process owners is testament to the
transformativepowerofAnalytics.
Analytics has been highlighted as a key strategic technology trend in 2015, according to a
Gartner report, Oct 2014. This is the first time that three of the top 10 IT trends are from the
worldofAnalytics.Theseinclude1)Advanced,Pervasive,and InvisibleAnalytics;2)Context-
richsystems;and3)SmartMachines.
BigDataisahouseholdname,butnotmanyareawareofDataEconomy.Mostofyouwillrecall
that in 2013-14, Big Data was all the rage. Tom Davenport predicted that the era of Big Data
was passing and coined the term Data Economy. Data Economy is a stage where analytics will
start becoming a strategic asset for an organization. Advanced, pervasive and embedded
analytics using smart machines and context rich systems would enable real-time decision
making. We are moving from IT-led business intelligence to a stage where personalization,
smartmachinesandB2Ctransactionswilldrivetheembracementofanalytics.
The capabilities of Analytics will define what processes will be part of an organization, and
nottheotherwayround.Thesecapabilitiesstraddletheentirevaluechainforbusinesses,but
areespeciallyrelevantforBanking,Insurance,healthcare,andEntertainmentdomains.
AccordingtoaGartnerReport(Oct,2014),73%ofrespondentshaveeitheradoptedorareon
the path of adopting analytics as part of their organization. This trend is set to continue.
Analytics will become more relevant in helping organizations address key business
initiatives, delivering impact across the business continuum, thereby accelerating value
creation.
The same report identifies Marketing, Operations, Sales, Customer service and R&D as the
key areas where customers are already investing heavily in building their internal capability
foradvancedanalytics.
TheotherkeytrendinAnalyticsistheadoption ofopensourceplatformslikeR. R isversatile,
canbecustomizedasrequiredandisfreeofcost,whichaccountsforitsrisingpopularityover
proprietarysoftwarelikeSAS.
In conclusion, there is a significant shift in how we leverage data to meet our objectives.
Exciting new Analytics technologies are emerging—and in some cases, converging—to help
organizations drive innovation and make smarter decisions with insights based on more
thanjuststructured,staticdata.
The Future of Business Analytics
By Sameer Dhanrajani
Business Leader - Cognizant Technology Solutions
www.imarticus.org
4. Panel Discussion: Key Takeaways
www.imarticus.org
Q: Is Analytics hype or is it for real?
Q: How do I go about setting up an analytics-centric organization?
Analytics is nothing new. We have been doing analytics long ago even with
Excel.
There's been a lot of media attention in recent months on big data analytics
and its potential to radically transform business. The media was kind to
create that kind of buzz for analytics.
To the extent that analytics alone can solve your business issues – It is pure
hype. Of course, Analytics is a tool that can help you make better decisions,
but it is pointless if you don't act on the insights or ignore the insights and
continue to make decisions by gut.
Leveraging big data analytics can lead to significant business value. But
business owners need to be clear on why they want to use analytics. What
business problem do you want to solve?
Will adoption of analytical tools alone solve your problem? No. You need to be
able to articulate how you will apply the insights in real life.
The focus on 'Customers First' is fundamental to the business case for
investing in big data analytics
Yes, we have been doing analytics even in Excel. So, why is there media hype
only recently? What is new is that technology has progressed, tools have
changed; and skillset of people is now more advanced.
The quantum of data is HUGE compared to just few years ago. Data got bigger
and more unstructured. 85% of the data today is unstructured. While
traditional BI and analytics processes concentrate on structured transaction
data, big data analytics was born primarily to deal with huge amounts of
unstructured data.
What 's new is scope, speed and accuracy of insights derived from analytics.
Thanks to recent tools for advanced analytics, even those organizations
accustomed to managing big data are able to achieve new depths of insight
with greater speed and accuracy.
A lack of leadership -- on the business and IT side -- is one of biggest
inhibitors of big data success, according to Gartner Inc. Leadership failures
often can be traced to two root causes: not understanding the business
benefits that can be derived from collecting and mining data; and
underestimating the changes required for successful implementation.
HYPE
a media buzz
Establish
clear business
need
REAL
scope & usage
is universal
Ensure
leadership
buy in
5. www.imarticus.org
Q: What kind of talent should we hire and what is the curriculum that
people should be focusing on?
There is a HUGE shortage of talent who can make meaningful sense of raw
data. The data heap is so huge – Your team needs to know where to look and
how to dissect it.
Organizations will need data scientists who combine advanced analytic skills
with deep industry knowledge. Talent of this caliber is rare and may require
years of nurturing and development beyond the formal training.
We can get talent and we can even coax the business problem from the
business owners, but we can't force businesses to implement the findings.
Tools are meaningless if you don't act on the insights. Managers need to be
able to take that leap of faith with analytics.
Managers need to create an environment that encourages use of analytics as a
key step in decision making.
Analytics needs to become pervasive, embedded and part of day to day life.
We need someone with analytical ability. Technologies change rapidly and can be
taught. But analytical ability cannot really be taught – especially in corporate
environment.
Should be able to visualize data, willing to explore and look at the possibilities,
and find data which is not apparent, willing to get hands dirty.
Data is never complete and we make assumptions to fill in the gaps. This calls for
problem solving skills which is the key skill in analytics.
Someone who understands domain, function, technology, numbers. One person
may not have all four, but as a team, all four skills need to be balanced out.
Should be able to relate in real world situations. On the job training is a must.
Build talent
and culture
that are “data”
centric
Analytical
Ability
Visualisation
Problem
Solving Skills
Balanced
combination
of four skills
Industry
Knowledge
Panel Discussion: Key Takeaways
6. www.imarticus.org
Q: How do you deal with entry level talent and develop them further?
At least 2/3rd of the training will happen on the job. We need to provide basic
training and ensure managers are patient and provide talent with projects and
assignments to give them exposure.
that encourages self-learning through research etc. As managers, we ourselves
need to keep updated with latest trends and developments.
The degree does not matter – no matter what the Institute. What matters is much
hunger and patience the person has to learn more. Tools and techniques are
useful but easy to learn. Attitude is key and cannot be taught.
On the job
training
Create the
right culture
Right attitude
Q: With the outsourcing of analytics capabilities, what part of the value chain
are we currently in India and how do we move up the value chain?
Great Market share of about 44% of the market share of Analytics.
High Quality talent with a good mix of analytics skill set and language
ability which gives us a significant share of the market.
Learning from global players – can avoid legacy issues and can directly
adopt latest technologies.
Here to stay - Analytics will be an integral part of any decision making.
More growth in Domestic markets – Just the tip of the iceberg – all
domestic companies will use analytics over the next 5 years.
Speed to market - The challenge in sustaining current market share is being
able to deliver on key areas faster.
Great Future - As long as we can challenge ourselves and evolve, take those
leaps of faith, India will continue to thrive in the future.
Where is India
today as it
pertains to
capability or
market share
What does
the future
hold for us?
Panel Discussion: Key Takeaways
8. Contact Us
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