Professor Thomas Davenport, who is known as The Guru of Analytics in the field of business analytics explained analytics in one sentence.
"You have all those data, what you going to do next ?"
Professor Davenport has authored 12 books and is currently lecturing MBA students about entrepreneur decision makings.
He pointed out that even big guys suffered potentially doubtful decision makings, cases which include:
- USA military invasion of Cuba.
- USA military invasion of Iraq.
- Yahoo opted not to sell to Microsoft
- BP oil spills.
- Level - 5 : Analytics Competitors
- Level - 4 : Analytics Companies --> Having the assets
- Level - 3: Analytics Aspirators --> Understood the benefits
- Level - 2: Analytics Localized --> No communication
- Level - 1 Analytics Impaired --> No analytics at all.
- Marriot - on revenue management
- UPS - on operations and logistics
- CIMB - on risks, credit scoring, pricing.
- Harrah's - on loyalty and services
- Tesco - on loyalty and internet groceries
- 'CreditCorp' - on debt collections
- 'CapitalOne' - on Information based strategy
- Google - on Page rank, advertising and HR
- ISM - on analytics services
- D = Data
- E = Enterprise (enterprise level - interconnected)
- L = Leadership
- T = Targets(goals)
- A = Analyst (people)
The senior VP of Mahindra Satyam Mr. Venkat Narayanan (based on Singapore) explains that using SAS iDesicion framework, a project implementation gets a booster of 30% to 40% of delivery time, with just another 70% to 60% of customization. Mr. Venkat quoted one real customer from the insurance financial industry who faced challenges of open competitions and high turnover of agents (90% per annum).
The customer (which is based in India) was looking for solution which will allow the followings:
- Customer value management
- Single view of customer
- Maintain agents
- Reduce orphan customers
- Maximize cross selling
Finally, speaker from HP Ms. Betty Lau shared with the audience how HP embraces business analytics (using SAS technology) internally to help with their business.
It was a vision from current CEO Mr. Mark Hurd, who is known for his cost-cutting management skills which worked.
The idea is to have a single source of information for the whole enterprise of HP so to speak and it took them 3 to 4 years to achieve such marvel.
Today, the 'center of excellence' is the 'command center' for HP which will oversee the heart beat of the single source of information. It comes handy for
- Trends seeking
- Accelerate growth
- Mitigate risks
- Lower costs
- Marketing - Product association analysis
- Enterprise - Loyalty drivers analysis
- Finance - Spend reporting analysis
- Procurement - Quality and warranty analysis
HP also provides business analytics professional services.
SAS is the no.1 in the business of business analytics, followed by IBM and Microsoft.