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Winning in Today's Data-Centric Economy (Part 1)


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First part of "Winning in Today's Data-Centric Economy"

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Winning in Today's Data-Centric Economy (Part 1)

  1. 1. Winning in Today's Data-Centric Economy Alexander Loth
  2. 2. Help people see and understand their data Data Analytics Data Strategy
  3. 3. The Data-Centric Economy is Everywhere
  4. 4. previous century: THE ERA OF MASS PRODUCTION Products, products and more products
  6. 6. Data is Everywhere Data Analytics Data Strategy
  7. 7. The Data Opportunity Extracting value from the data deluge Source: IDC, CAGR = Compound Annual Growth Rate Data Analytics Data Strategy
  8. 8. You can‘t store it in a datawarehouse anymore Data Analytics Data Strategy
  9. 9. …it‘s all about data Data Business Value Adoption of data as a strategic business asset Data Analytics Data Strategy
  10. 10. HERE’S THE PROBLEM Existing systems were built for products and one-time transactions, not customers and long-term relationships Multiple Systems | Manual Processes | Rigid Technology | Product-Centric A Product ? ? Quoting Fulfillment E-Commerce Revenue Recognition Financials ERP SCM InventoryProduct Catalogue Collections Invoicing Data Analytics Data Strategy
  11. 11. When did data become so complicated? Branch Banking Web Banking Mobile Banking Context Banking Increased data centricity Data Analytics Data Strategy
  12. 12. Data Analytics Data Strategy
  13. 13. Marketing FinanceSales IT Product Operations THE NEW RULE FOR A DATA-CENTRIC STRATEGY Wrap your data around your customers to create business value Data Analytics Data Strategy
  14. 14. Analytics are Everywhere Data Analytics Data Strategy
  15. 15. …it‘s all about data + analytics Data Business Value Analytics is essential for any competitive strategy Data Analytics Data Strategy
  16. 16. 2009 Data Analytics Data Strategy
  17. 17. The Status Quo Data Analytics Data Strategy
  18. 18. Industry Disruptions Analytics is key to create the future of Banking Engineering Automotive Banking Key Disruptive Technologies Open API Blockchain Advanced Analytics
  19. 19. Visual Analytics Data Analytics Data Strategy
  20. 20. 6 analysts spend 60% of time producing a weekly leadership report Reducing report creation and delivery time by 75% 6,912 hrs annually TIME TO INSIGHT BEFORE TODAY 5 1DAYS DAY Data Analytics Data Strategy
  21. 21. Top Questions for Analytics Data Analytics Data Strategy • What are we doing? • Data --> Desisions • Who is the consumer? • Tactical --> Strategic • Core --> Ubiquitous • What data do we need? • Aggregate --> Detail • Data Silos --> Multple Demensions • What analytic techniques do we use? • Reporting --> Discovery • Human --> AI • Who does the analysis? • Platform Choice --> Analytic Portfolio • How is the analysis used? • Data Confidentally --> Open Data • Stand Alone --> Embedded Analytics
  22. 22. Analytics applies to every stage of a decision Data Analytics Data Strategy Report Awareness ContextPrediction Decision
  23. 23. Five Rules for Success Data Analytics Data Strategy • Analytic projects fail; find a sponsor for change • Get out of your comfort zone; find data to challenge assumptions • AI is here, but only in places; advanced is not always better • Single sourcing will fail; building an Analytic Portfolio • Analytic stagnation will kill you; find a new audience
  24. 24. @xlth Alexander Loth