Date post: | 09-May-2015 |
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Marketing |
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Turning Business Intelligence Into
Actionable Insights
#FutureofBI
Webinar Sponsored by
#FutureofBI
Welcome Webinar Attendees
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About Retail TouchPoints
Launched in 2007
Over 28,000 subscribers
To provide executives with
relevant, insightful content across
a variety of digital medium
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#FutureofBI
Panelists
Dustin SmithProduct Marketing & Community Manager Tableau Software
MODERATOR
Greg Girard Program Director
Omni-Channel Analytics Strategies
Alicia Fiorletta Senior Editor
Retail TouchPoints
Turning Insights into Actions—A Big Data and Analytics Perspective
Greg GirardProgram Director
Omni-Channel Retail Analytics Strategy
7
Big data is big, but not all that big a deal
© IDC Retail Insights Visit us at IDC-ri.com
After all, what’s data without analytics!
8
Where’s your big data?
© IDC Retail Insights Visit us at IDC-ri.com
Sales Analysis $ 5,000,000,000 Total Revenue
$14 $/Transaction 357,142,857 Transactions
20 Attributes/Transaction 7,142,857,143 Transaction Attributes
3 Items/Transactions10 Attributes/Item
10,714,285,714 Item Transaction Attributes
Marketing Decisions4,000 Products
10 Promotion Types20 Channels/Touch Points20 Customer Segments
16,000,000 Intersections/Promotion Event 52 Events/Year 832,000,000 Intersections/Year
Inside and outside your enterprise!
9
Growing Evidence for the Power of Analytics Proficiency
© IDC Visit us at IDC.com and follow us on Twitter: @IDC
Leaders
Laggards
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Fact Finders
Fact Finders
Fumblers
Fumblers
Percent of RespondentsLeaders vs Laggards4
New analysis methods on same type of data
0%
Same analysis methods on Same type of data
-14%
Same analysis methods on New type of data
7%
New analysis methods on New type of data
6%
Sources: •1. Analytical Orientation and Competitiveness: The Difference Between Fact Finders and Fumblers, IDC #227524•2. Strength in Numbers: How Does Data-Driven Decision making Affect Firm Performance? MIT Center for Digital Business•3. IDC and Computerworld 2013 Business Analytics Survey•4. Take Care of Your Quants: Focusing Data Warehousing Resources on Quantitative Analysts Matters, IDC #227524
Benefits3
45% of organizations achieve quantifiable benefits within 6 months
90% of organizations value of benefits met or exceeded expectations
Data-driven companies2
5% more productive6% more profitable
10© IDC Visit us at IDC.com and follow us on Twitter: @IDC
4 V’s of the BDA ECOSYSTEMBUSINESS PROCESSDATA CREATION
END USERSPRODUCERS
VO
LUM
E VELO
CITY VARIETY
VALU
E
11© IDC Visit us at IDC.com and follow us on Twitter: @IDC
IDC BDA ECOSYSTEMBUSINESS PROCESSINFO PROCESSINGDATA ACQUISITIONDATA CREATION
END USERSANALYSTS / SCIENTISTSARCHITECTS / ENGINEERSPRODUCERS
Shared Nothing Scale-out Storage + SSD
MPP + In-Memory Compute
Hadoop
Hi-Speed / -Resiliency Networking
Converged Infrastructure
Cloud
Non-relational DWH
SYSTEMS INTEGRATION
VO
LUM
E VELO
CITY VARIETY
OBJECTIVES
Stream Processing
Event Management
Data Exploration
Contextualized Data
Modeling / Scenarios
Forecasting
DELIVERY MODELS
Access-AnywhereAnalytics Services
Context-Aware Business Applications
ON-DEMAND
Location-Based Services
Alert and Respond
PUSH
Workflow and Interaction Automation
Smart devices and systems
EMBEDDED
Email and Messaging
Mobile Apps Data
Transaction and Usage Logs
Machine and Sensors
Geolocation
Relationships and Social Influence
Real-time Events
Deep Insights
VALU
E
12
The Quest for Maturity
Where are we? Why climb higher?
How did they do it?
© IDC Retail Insights Visit us at IDC-ri.com
can we
13
While we don’t climb mountains….
© IDC Retail Insights Visit us at IDC-ri.com
In a broad societal and economic context retail is at the epicenter of emerging BDA opportunities.
Two classes of retailers are emerging, "BDA haves" and "BDA have nots", immediately making BDA a defining basis of retail competitive advantage.
Higher BDA maturity improves chances of achieving expected or greater-than-expected benefits.
Top 10 distinguishing traits of high achievers span intent, people, process, technology, and data.
14
Dissecting BDA Maturity: “5 by 5”
Dimensions Levels
Ad Hoc Opportunistic Repeatable Managed Optimized
People
Process
Data
Technology
Intent
© IDC Retail Insights Visit us at IDC-ri.com
~90 Sub-dimensions
15
Dissecting BDA Maturity: “5 by 5”
Dimensions Levels
Ad Hoc Opportunistic Repeatable Managed Optimized
People
Experiment, silos, pilots
Requirements, off-budget funding,
inefficient allocation
Budgets, documents, stakeholders
Metrics-informed
investment, standards
Continuous coordination,
process improvement
Process
Data
Technology
Intent
© IDC Retail Insights Visit us at IDC-ri.com
16
Dissecting BDA Maturity: “5 by 5”
Dimensions Levels
Ad Hoc Opportunistic Repeatable Managed Optimized
People Skills, collaboration, org structure, training, culture, leadership
Process Data consolidation, analysis, dissemination, consumption, decision-making
Data Quality, relevance, availability, reliability, governance, security, accessibility
Technology Appropriateness, applicability, integration, standards, performance, architecture
Intent Strategy, budgeting, metrics, sponsorship, program/investment justification
© IDC Retail Insights Visit us at IDC-ri.com
17
Some have it, some not so much
© IDC Retail Insights Visit us at IDC-ri.com
FIGURE 1BDA Maturity Distribution: Retail
n = 200Source: IDC's Big Data and Analytics Maturity Benchmark Survey, 2013
18
BDA Maturity Increases Success Rates
© IDC Retail Insights Visit us at IDC-ri.com
n = 200Source: IDC's Big Data and Analytics Maturity Benchmark Survey, 2013
Definitions• Highest achievers.
Recent BDA projects met or exceeded expectations
• Low achievers. Recent BDA project did not meet expectations or delivered no benefits
*Differential = (Repeatable + Managed + Optimized)Highest Achievers - (Repeatable + Managed + Optimized)Low Achievers
1st
3rd
5th
2nd
4th
Skew right
Skew left
19
Keep All Five Dimensions Aligned
© IDC Retail Insights Visit us at IDC-ri.com
20
Essential Guidance for Retail BDA Intent
• Set and Manage BDA Strategy at the Enterprise Level• Fund and Budget BDA Programs Annually with Flexibility
Data• Exploit Enterprise Data Assets• Introduce New Data Types and Analytic Methods
Technology• Ensure Users — Especially Analysts — Are Satisfied with the Tools of Their Trade• Complement BDA Technology with Mobility
People• Complement Skills and Expertise with a Culture of Collaboration• Apply BDA Insights to Management Decision-Making and Customer Interactions• Focus on Collaborative Governance and Closed-Loop Management across IT, LOB and
Analytics
Process• Start with Information Management, Application Development, and Strategy and Planning• Finish with Information Consumption — The Last Mile of BDA Success
© IDC Retail Insights Visit us at IDC-ri.com
21
Contact Information
© IDC Retail Insights Visit us at IDC-ri.com
Greg Girard, Program Director
@gregorydgirard
www.idc-ri.com
https://idc-insights-community.com/retail
Help people see and understand their data
#FutureofBI
Q & A
#FutureofBI
Q & A //Panelists
Dustin SmithProduct Marketing & Community Manager Tableau Software
MODERATOR
Greg Girard Program Director
Omni-Channel Analytics Strategies
Alicia Fiorletta Senior Editor
Retail TouchPoints
#FutureofBI
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