This presentation explains the article "making advanced analytics work for you" by Dominic Barton and David Court

1. BY: Dominic Barton and David Court

2. OVERVIEW
 Big data and analytics have rocketed to
the top of the corporate agenda.
 Companies like have been able to
exploit the data.
 But most of the companies are unsure on
how to proceed.
 They simply believe that their
organizations are not ready.

5. INSIGHTS
Three mutually supportive capabilities are
required to fully exploit data:
 Companies must be able to identify,
combine, and manage multiple sources of
data.
 They need the capability to build advanced
analytics models for predicting and optimizing
outcomes.
 Management must possess the muscle to
transform the organization so that the data
and models actually yield better decisions.

8. Choose the Right Data
 Volume of information, particularly from
new sources such as social media and
machine sensors, is growing rapidly.
 So mastering the technique to identify
usable data already available, and
exploring surprising sources of
information is important.

10. Build Models That Predict and Optimize Business
Outcomes
 Identifying the business opportunity and
determining how the model can improve
performance is an important.
 Advanced statistical methods can help
make better models, but sometimes
statistics experts design models that are
too complex to be practical.
 Thus Companies should repeatedly ask,
“What’s the least complex model that
would improve our performance?”

12. Transform Your Company’s Capabilities
 Companies are not able to exploit the big
data due to their limited capabilities.
 Thus, using big data requires thoughtful
organizational change.
 It is important to develop business-
relevant analytics that can be put to use.
 Also, Managers need transparent methods
for using the new models and algorithms
on a daily basis.
 Most organizations will need to upgrade
their analytical skills and literacy.

13. MANAGERIAL RELEVANCE

14.  As the decision makers of the organization, it
is important for the managers to choose the
data wisely from the plethora of data
available and make optimal use of it.
 They should also seek new and interesting
sources of data.
 Also, the model chosen must be able to
optimise business outcomes.
 Managers need transparent methods for using
the new models and algorithms on a daily
basis.