Big Data and Analytics have become a major topic of discussion, catalyzing attention among the C-Level executives and driving investments and projects inside the enterprise. However, there is one component that can halt any initiative: YOUR COMPANY's ANALYTICS MATURITY.
How prepared is your company to implement and use the available data, the high end modeling techniques and the data as well as analytics expertise?
From what I have learned and experienced, companies are still not adequately prepared, hurting their ability to compete in the market.
This presentation will help executives and data professionals to understand the steps needed to create an analytics organization, and provide some real life examples on companies who succeeded and some who failed miserably.
Acting on Analytics - How to Build a Data-Driven Enterprise - Brighttalk webinar Sept 2013
1. Mario Faria
1
Acting on Analytics
Building a Data-Driven Enterprise
Sept 11th, 2013
Mario Faria
http://www.linkedin.com/in/mariofaria/
www.slideshare.com/fariamario
Twitter : @mariofaria
2. Mario Faria
2
Who am I ?
• MIT recognition as one of the 1st Chief Data Officers and Data Scientist
Leaders in the world (just Google “Mario Faria Chief Data Officer”)
• 20+ years working with Information Technology, Management
Consulting, Financial Services, Retail, CPG and Private Equity
• Proven expertise in Data Management, Data Science, Analytics, CRM
and Supply Chain Management
• Speaker at several conferences on the subject in USA, Europe and Latin
America
• Contributor to magazines and publications
• Big Data Advisor at the Bill and Melinda Gates Foundation
• Member of the MIT Data Science Initiative
• Helping companies cross the Big Data Chasm
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Objectives
• Clarify Analytics
• Present some analytics terms that will help professionals
do their jobs better
• Provide insights on how you should successfully create a
data & analytics organization
• Present some concepts to help you prepare to implement a
data-driven organization
• Bring some attention on how to properly use data
• Show a few options available for your professional future
in today’s world
5. Mario Faria
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Where we stand today
• Fragmented technology ecosystem
• Over usage of the Big Data term
• The “how to compete on analytics” is still
hard to achieve
• In most companies, data is still managed
with an IT mind set
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Analytics is transforming
data assets into
competitive insights, that
will drive business
decisions and actions,
using people, processes
and technologies
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“Measurement drives behavior, and if
we don’t understand how, it drives
behaviors in mysterious ways”
by Frank Buytendijk, Beingfrank Research, Sept 2012
1. Understand the decision making process
2. Understand what the many frameworks in
measurement do for us
3. Understand what can go wrong
4. Understand the culture
14.
Data
access
is
quite
easy
to
achieve
Transforming
data
into
something
useful
in
a
1mely
manner
is
tough
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The 5 Steps from Data to Decisions
Souce : Aryng Analytics Consulting
16. Data
Science
The
process
of
taking
raw
data,
producing
informa1on
from
data,
and
using
this
informa1on
to
guide
ac1ons
that
will
bring
financial
benefits
to
business
17. Data
Mining
is
the
explora1on
and
analysis
of
large
quan11es
of
data
to
discover
meaningful
paCerns
and
rules
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The Data Mining Process
1. Project definition
2. Data exploration
3. Data preparation
4. Model creation
5. Model deployment
6. Model management
21. Machine
learning,
part
of
ar1ficial
intelligence,
is
about
the
construc1on
and
study
of
systems
that
can
learn
from
data
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Machine Learning is the "Field of
study that gives computers the
ability to learn without being
explicitly programmed"
Arthur Samuel,
1959
23. Machine
Learning
is
about
predic1on
and
learning
from
data
Data
Mining
is
about
finding
unknown
proper1es
of
the
data
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Deep X Operational
Analytics
• Deep Analytics
– Few users
– Complex queries
– Worried about response time
– Dedicated data marts
• Operational Analytics
– Lots users
– Simple queries
– Worried about throughput
– Real time data flow
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Chief Data Officer /
Chief Analytics Officer
Data Architect
Data Quality
Data Scientist
Data GovernanceData Operations
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The roles of an Analytics organization
A data scientist is the one
who looks for insights
The insight is operationalized
in BI/DW products, by data architects
The insight is shared
with the enterprise
The Chief Data/Analytics Officer is the
executive responsible and accountable for
the data life cycle inside the organization,
managing the people involved in the data
activities, such as acquisitions, analytics,
processes, governance, quality, technology
and budget
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A Chief Data/
Analytics Officer is
the executive
responsible to
manage these areas
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The Best of the Breed
Data & Analytics Leader
• Knows how to talk business with
business people; technology with
techies
• Runs his/her team as a business
unit
• Has multi-discipline skilled people
(technologists, mathematicians,
statisticians, business people as
well)
• Manages quite well the back office
and front office functions
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The checklist to hire data & analytics professionals
Chami Akmeemana
Managing Director
Huntel Global
• Where are they ? Think global
• What are they interested in ? It is not just
money, it is the possibility to “create” something
new or transform
• What are they going to do ? Gain clarity on
your business analytics strategy
• What are they going to work with ? Set budget
for technology tools, data acquisition and other
resources needed
Link to download the full paper : http://goo.gl/Fc8Xl
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From good to great, an analytics team
must have:
• Passion for analytics and data
• Never stop learning
• Always be there for tough analytics
questions
• Ask questions until everything makes sense
and you are satisfied with the answers and
analyses
• Learn how to develop prototypes quickly
• Be an advocate for building a strong
foundation in corporate analytics
• Be a "bridge builder" between IT and
business users
40. Mario Faria
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Is it possible to promote Business Maturity using
Analytics, or is it the other way around?
• Your company must have some Business Maturity to take a step and
start using Analytics.
• When you if take the path of using the right people, good technology,
proven methodologies and changing the current processes, you will gain
more Business Maturity.
• After you have gained more Business Maturity, naturally you will start to
evolve to more complex Analytics usage
• It is a self-promoting system following exactly the Deming PDCA method
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The 3 ingredients to make
Advanced Analytics work
• Choosing the right data and managing multiple data
sources
• Having the capability to build advanced models that turn
the data into insights
• Management must undertake a transformational-change
program so that the insights translate into effective action
42. Mario Faria
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Managing an Analytics project
• Focus on the execution
• Well-defined and realistic scope
• Put all activities on the schedule
• Budget control
43. Mario Faria
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Technology alone will not change the
previous results
To succeed in Analytics, an organization will be required to
change some of its current internal processes
44. Good
KPIs
will
not
save
your
business,
but
they
will
be
able
to
tell
how
screwed-‐up
your
business
is
46. Mario Faria
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Which companies will thrive in the near
future ?
• The ones which will understand how to adapt faster to
this new scenario
• The ones which will have successful Analytics
implementations
• The ones with great human capital, which understand
how to leverage their resources and with proven
methodologies to embrace this change
Is your company going to lead, influence or
follow when using data and analytics to
drive results ?
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Lessons to Analytical Success
• People
• Change Management (on going program)
• Culture
• Organization Model
• Processes
• Architecture
• and Analytics, of course
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“Successful people shoot for
the stars, put their hearts on
the line in every battle, and
ultimately discover that the
lessons learned from the
pursuit of excellence mean
much more than the immediate
trophies and glory”
Josh Waitzkin, The Art of
Learning
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Thank you
Mario Faria
Chief Data Officer and Analytics Strategy Advisor
http://www.linkedin.com/in/mariofaria/
Founder of the Digital Mad Men
www.slideshare.com/fariamario
Twitter : @mariofaria
fariamario@hotmail.com
+1 (425) 628-3517