squeezing more insights from big data_fractal analytics_ibi summit 2012
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®
Confidential | Copyright © 2012 Fractal Analytics, Inc.
Squeezing More Insights from Big Data
Deepak Ramanathan Fractal Analytics Inc.
IBI Summit - June 6, 2012 Kissimmee, FL
®
Confidential | Copyright © 2012 Fractal Analytics, Inc.
Key points
1. Winners are positioning to leverage Big Data and Analytics
2. What is preventing success?
3. Stages of developing a data-driven culture
4. How to get started?
2
®
Confidential | Copyright © 2012 Fractal Analytics, Inc.
We all know companies using analytics win more…
* IBM Survey was conducted on 3,000 executives, managers and analysts working across more than 30 industries and 100 countries where respondents were asked to assess their organization’s competitive position^ IDC white paper “The Financial Impact of Business Analytics”
Study 2^: Predictive Analytics improves ROI of BI application by ~ 60%
89%
145%
Only BI BI & Predictive Analytics
Study 1*: Predictive Analytics = better performance
45%
20%
53%
27%
Top Performers
Use analytics to guide future strategies
Use analytics for day to day operations
BottomPerformers
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
2008 2009 2010 2011 YTD 2012
2,340 2,130
25,800 25,300
63,800# of “BIG DATA” articles online
Source: Google NEWS
“H-P said it will reallocate the $3 billion to $3.5 billion savings
each year from the 27,000 job cuts planned between now
and 2014 to Big Data analytics, cloud computing and security infrastructure.”
16%
33%
40%
7%
107%
% denotes change in stock price from list price* Data approximated as of May 25 2012
4
But the concept of BIG DATA is emerging…
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
…This has the potential for disrupting the notion of analytics in your industry
Confidential | Copyright © Fractal 2012
5
Telematics in Insurance Industry
Premium
The Car
Whose Driving
Type of policy
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
Today, analytics is not set-up to cater to ‘BIG’ demands
Reporting strength Cost centre Hidden cost of service Reactive
206
1
5
EVPSales Team
Marketing Team
Analytics
12Product
Development
6
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
…which will lead to implementation challenges
Q: Top business challenges to delivering a successful big data analytics solution?
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Source: IDC and Computerworld BI and Analytics Survey Research Group IT Survey, 2012,
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
Overcoming analytics barriers – history lesson
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Reference; http://en.wikipedia.org/wiki/John_Snow_(physician)
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
Key phases of analytics adoption
1. Identify current gaps
2. Roadmap for execution
3. Talent acquisition
1. Choosing a Pilot
2. Defining Success Factor
3. Implement and measure success
1. Talent retention
2. Develop SLAs
3. Focus on Innovation
Top
3 C
on
sid
erat
ion
s
Vision Pilot Growth Steady State
1. Ramping Up
2. Project planning
3. Maintain quality levels
Focus
9
M0 M3 M24 M36M12
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
Business diagnostic helps you layout your vision
Assess status quo: Data infrastructure Analytics process
Business diagnostic helps: Understand current gaps Prioritize needs Plan investments Benchmark against best practices
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Vision Pilot Growth
Steady State
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
…and helps to develop an execution plan
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Vision Pilot Growth
Steady State
Current test and learn capabilities Campaign, offer, design effectiveness Supporting tools and processes
Analysis tools Resources, and methodologies Quickwins
Campaign planning and execution Tools and capabilities ROI framework
Data Quality Assessment Duplicity GranularityD
ata
Insi
gh
t
Mea
sure
Fee
db
ack
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
Where to start?
Business Diagnostic Roadmap
Focus Preparation for assessment
Key Activities
Deliverables
Week 1
Project Kick off and Stakeholder
meetings
• Obtain background data and documents
• Prepare questions for stake-holders
• Set-up key meetings• Send stake holders
list of questions
• Kick-off meeting• Conduct key
stakeholder meetings• Prepare meeting
notes and obtain clarifications
• Obtain relevant documentation
• Extract sample data
• Define “As is” situation
• Define “Desired” situation
• Define Current Processes
• Benchmark with industry
• Identify gaps and enhancements
• List of documents and data
• Questions for stakeholders
• Kick-off meeting deck
Detailed Review, Analyses and Assessment
Final Recommendations
and Report
Week 2 Week 3-4 Week 5
• Prioritize initiatives • Identify quick wins• Align initiatives with
implementation time and ROI
• Create final report with recommendations
• Share best practices
• Stakeholder meeting notes with clarifications
• Sample Data Assessment
• List of quick wins• Roadmap with
initiatives and ROI• Recommendations• All supporting
materials
• “As-is” document• “To Be” document• Current process
documents• Gaps and
enhancements
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Vision Pilot Growth
Steady State
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
Diagnostic: Enhancement prioritization
Immediate (0-6 Months) Medium (6 Months -1 Year) Long (1 Year +)
Low to Medium
1Cross Sell 3
Restructure SalesChannels
6MIS Dashboards
10Proactive limit management
9Revamp Bonus Points Program
4Retention Management
8Cross –sell Parma
Medium to High
12Increase card delivery rates
11Activation Campaigns
2Loyalty Pgm
5Spend Management
7Launch New Products
Impact on Bank
Illustrative
13
®
Confidential | Copyright © 2012 Fractal Analytics, Inc.
Diagnostic: Talent acquisition framework
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Type of TalentStatistician, Data expert, Business Analyst
• Where in the analytics pyramid is the team operating in?
Right Levels
VP, Director, Manager, Analyst
• Who is the sponsor?• How is the team going to
interact with the rest of the organization?
Right MixOptimizing the talent acquisition budget
• Is the team going to provide consulting solutions or analytical insights?
Analytics Unit
Benchmark Learning• Typical Analytics Unit – 1 VP/ Director for every 2-3 manager, 1 manager for every 3-4 analyst
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Confidential | Copyright © 2012 Fractal Analytics, Inc.
Diagnostic: Organization structure
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Analytics
Unit
Partner Consultant Data Team
Business Units
Future model
Business Units
Analytics
Unit
Data Team
Current model
Partner Consultant
®
Confidential | Copyright © 2012 Fractal Analytics, Inc.
Key points
1. Winners are positioned to leverage Big Data and Analytics
2. Status quo, demand creation & developing a business case are barriers to adoption
3. To succeed follow the 4 phases of analytics implementation
4. Diagnostic uncovers untapped potential
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United States | United Kingdom | Singapore | India | Dubai
www.fractalanalytics.com
We believe analytics is critical to deeply connect with consumers, earn customer loyalty, make better decisions to reduce waste, and ultimately improve lives.
Fortune 500 companies partner with Fractal to build breakthrough analytic solutions, set up analytical centers of excellence, and create a culture of data driven decisioning.
We solve problems, operationalize solutions to drive results, and ultimately drive change in organizations towards fact-based decisioning.
We help businesses: (a) Understand, predict and influence consumer behavior; (b) Improve marketing, pricing, supply chain, risk and claims management; (c) Harmonize data, visualize information, build dashboards and forecast business performance.
®
Deepak Ramanathan, Vice President323.719.4165
deepakr@fractalanalytics.com
Contact Us
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