Loras College 2014 Business Analytics Symposium | Daniel Rebella, Phil Pillsbury, Scott Groendal and Craig Vogel: Big Data Analytics in a New Information Era
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Learn about monetizing big data financials, performance insights and performance management in the cloud. For more information on the Loras College 2014 Business Analytics Symposium, the Loras College MBA in Business Analytics or the Loras College Business Analytics Certificate visit www.loras.edu/mba or www.loras.edu/bigdata.
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Loras College 2014 Business Analytics Symposium | Daniel Rebella, Phil Pillsbury, Scott Groendal and Craig Vogel: Big Data Analytics in a New Information Era
- 1. © 2014 IBM Corporation Big Data & Analytics in a New Information Era
- 2. © 2014 IBM Corporation2 Data at Scale Data in Many Forms Data in Motion Data Uncertainty Big Data Is All Data Volume Variety Velocity Veracity
- 3. © 2014 IBM Corporation3 Why Act Now? Create IT AgilityManage RiskOutperform Only 1 in 5 organizations allocate more than 50% of IT budget to new projects Of leaders cite growth as the key source of value from analytics Source: 1 - IBM IBV Study: Analytics: A blueprint for value, October 2013 2 - IBM Global Study on the Economic Impact of IT Risk, 2013 3 - IBM Global Data Center Study, 2012 Of respondents were impacted by a cyber security breach over the past 24 months 46%75% 1in5
- 4. © 2014 IBM Corporation4 Big Data & Analytics is a journey. Build a culture that infuses analytics everywhere Invest in a big data & analytics platform Imagine It. Realize It. Trust It. Put big data & analytics in the context of business need
- 5. © 2014 IBM Corporation5 *More than 20 percent increase in analytics-based jobs between now and 2018. 20% U.S. Department of Labor Forecasts* Skills Roles Mastery Imagine It. Start with your people. Novice Builder Leader Master
- 6. © 2014 IBM Corporation6 Realize It. Insight drives key business imperatives. Create new business models Optimize operations; counter fraud & threats Attract, grow, retain customers Transform management processes Manage risk Improve IT economics Big Data & Analytics Big Data & Analytics
- 7. © 2014 IBM Corporation7 Information Integration & Governance Systems Security On premise, Cloud, As a service Storage Big Data & Analytics Infrastructure New/Enhanced Applications All Data What action should I take? Decision management Cognitive Fabric Landing, Expl oration and Archive data zone EDW and data mart zone Operational data zone Real-time Data Processing & Analytics What is happening? Discovery and exploration Why did it happen? Reporting and analysis What could happen? Predictive analytics and modeling Deep Analytics data zone Trust It. A new architectural approach is required.
- 8. © 2014 IBM Corporation8 Enterprise Analytics Driving a Future-Ready Enterprise Dan Rebella, IBM Business Analytics 27th March 2014
- 9. © 2014 IBM Corporation9 IBM’s 2014 C Suite Study: Analytics drives Performance Acceleration This report is IBM’s 1st study of the entire C-Suite --- and the 17th in the ongoing series of CxO studies developed by the IBM Institute for Business Value. We now have data from more than 23,000 interviews stretching back to 2003. Our latest study draws on input from: 1.CEOs 884 2.CFOs 576 3.CHROs 342 4.CIOs 1656 5.CMOs 524 6.CSCOs 201
- 10. © 2014 IBM Corporation10 CEOs share control with customers “We want to hear everything and anything our customers have to say. That will help us establish one-on-one relationships with our customers and offer them better services more efficiently.” CEO Transportation A full 1/3rd of CEOs believe their C-Suite is out of touch with their customers. CIOs look outward to generate new value “The most important customer-rated initiative we’re investing in is analytics to give us a complete understanding of the real needs of current and future customers.” CIO Telecom Shifting from “service provider” to “critical strategic enabler”. Leverage Analytics to create deep insights from structured unstructured data. Implement leading edge technologies for the front office. CFOs step up to help create new business models “We must make decisions that are based on facts, not feelings.” CFO Hospitality Integrate financial and non-financial data for an enterprise single version of the truth Enable open and transparent information across the enterprise to optimize Customer Profitability IBM’s 2014 C Suite Study: What’s the Cs are saying and focusing …
- 11. © 2014 IBM Corporation11 CFOs rank second only to CEOs in collaborative C-suite influence C-Suite collaboration partners Source: Question B6--Which of your C-suite peers do you work most closely with in support of the enterprise? 78% 65% 24% CEO CFO All others Source: “CFO insights from the Global C-Suite Study”, IBM Institute for Business Value, 2014 Finance has a role in bringing balance to the funding of innovation. We play a role in challenging ideas and calling out where they are not working. Finance applies discipline to the process CFO, Life Sciences, Unites States ”
- 12. © 2014 IBM Corporation12 Transform the system of engagement Span finance and operations, risk & performance management Infuse scenario and predictive intelligence Guided business processes, mobile, collaboration Financial & Operational Performance Management Narrative Reporting & Disclosure Management Sales Performance Management Governance, Risk and Compliance Predictive intelligence and scenario analytics Three Analytics imperatives drive a future-ready enterprise Big data platform 1 2 3
- 13. © 2014 IBM Corporation13 Drive collaborative performance management: Engage all the right people when needed … Finance Executives Managers Line of business IT
- 14. © 2014 IBM Corporation14 Span finance & operations, risk & performance management Sales Marketing Finance Operations HR • Campaign scorecards • Promotion plans • Customer and product profitability • Revenue plans • Sales dashboards • Sales forecasts • Incentive compensation • Quota plans • Territories • Sales channels • Enterprise scorecards • Strategic financial plans • Profit and loss • Balance sheets • Cash flow • Workforce KPIs • Headcount plans • Salary and compensation • Staffing plans • Training and development • Operational KPIs • Strategy and operations plans • Capacity and inventory plans • Product allocation • New products Strategy and activity-aligned organization Establish one comprehensive, analytic, planning, and scorecarding platform
- 15. © 2014 IBM Corporation15 Apply scenarios and range plans to account for uncertainty and risk • Model Build scenarios reflecting range of future market conditions • Collaborate Across business units and functions Capture variability of input drivers • Report & Analyze Create range of outcomes Analyze sensitivity of outcomes • Plan For multiple outcomes Range of Outcomes Driver Sensitivity Scenario analysis
- 16. © 2014 IBM Corporation16 Build your Analytics agenda to enable a Customer Centric and Future Ready Organization Data collection New business modeling Profitability and pricing Performance scorecarding Error checking Decrease effort Increase focus Process monitoring Increase in value from analytic initiatives Transform the system of engagement Infuse scenario and predictive intelligence Span finance and operations risk & performance management
- 17. © 2014 IBM Corporation17 © 2014 IBM Corporation17
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- Organizations that outperform do so because they are data-savvy, insight-driven and infuse analytics in everything they do. • They are starting with the key imperatives – many start with activities around customer (Attract, grow, retain customers), and traverse virtually all areas of the organization, including even creating new business models based on data From working with clients across the globe, the areas of analytics where we have seen big data create huge value in six key business imperatives: In customer, the use of social media analytics on reputation in the marketplace to inform customer relationships, marketing, product and pricing decisionsTo finance for profit optimization, to streamlining operations with predictive maintenance, to real-time risk-aware decisions.Example: Some of these interaction opportunities come when a customer contacts customer service. Empowering these customer service representatives with the knowledge, driven by analytics and bolstered by the information captured throughout the conversation, can determine the correct strategy and actionBusiness Partner value: Our client facing presentations for each of these Business Imperatives are available on our Big Data & Analytics PartnerWorld page to enable our partners to have the right business conversations to identify client imperatives. Our most successful clients around the world have tackled challenges across customer, finance, risk and operations - deploying leading edge thinking, all supported by the foundation from IT that provides agility and cost-effective scale.From working with these clients, we have seen big data and analytics create huge value in the following areas:In customer, the use of social media analytics on reputation in the marketplace to inform customer relationships, marketing, product and pricing decisions. To finance for profit optimization, to streamlining operations with predictive maintenance, to real-time risk-aware decisions. To improve public safety by helping to detect and prevent threat with better surveillance and intelligence in real-time. Transition: So why are organizations acting now?
- NOTE TO SPEAKER:Your VITAL role. It’s vital that IBM Business Analytic Executive Keynote’s are delivered confidently and effortlessly. IBM Business Analytics has staked out a “leadership” position by virtue of our organic development of our technologies, acquisitions, and business leadership and this presentation includes many of the key thoughts that make the case for IBM Business Analytics (all of our capabilities) as the “the best partner for your analytics journey”. Presentation Objectives. The presentation objectives are designed to educate, influence, create urgency, and clarify why IBM is a company with whom you should take next steps with.Presentation Approach. This presentation combines the “CFO insights from the Global C-Suite Study, IBM 2014” (slides 2-10) and our Performance Management value proposition (slides 15-24) into one 60 minute presentation. A demo is presented at slide 25.Presentation Support. If you have any questions or comments in preparation or following delivery, please contact Doug Barton > bartond@us.ibm.com or Tony Levy > tlevy@us.ibm.com or Chad Peruba > cperuba@us.ibm.comDemos. This presentation includes one demo with scripts that occurs at slides 25. Please study this carefully.Acknowledgements. A special thanks to both Jason Salares/Ottawa/IBM@IBMCA and Silvia Marcovici/Toronto/IBM@IBMCA for their contributions to this keynote in the development of the demo.MAIN POINT: IBM is committed to being your partner for Business Analytics.SPEAKER NOTES:Thanks _________. It’s a real pleasure to be with you and to join our other presenters on this action packed agenda today. On behalf of all my colleagues at IBM Business Analytics, let me say that we are all very excited to be here to share our annual installment of the Finance Forum; Finance Forum is our premier global event that begins each spring and travels to more than 50 cities and 30 countries around the world. It’s all about practical approaches, actionable insights, and valuable information about innovations that can help you grow profitably, address regulation and risk in uncertain times. Now, as we talk with clients around the world, it is clear that finance organizations are being called to deliver stronger BUSINESS FORESIGHT through analytics. This requires new tools and disciplines and skills. The best companies create an analytical culture that brings these together to DRIVE A FUTURE-READY ENTERPRISE. By going this, the best finance organizations become authentic trusted advisors to business units.The purpose of this presentation is to share best-practices and approaches to achieve this.Now, I know many of you have been customers for many years – we want to thank you – you are likely using our solutions in several performance management processes within your organization right now. And still others are hearing about IBM Business Analytics for virtually the first time. To those of you who are new to IBM, a special welcome, thanks for being with us. We are glad you chose to join in and are confident your time with us will be valuable.<<END>>-----------------------------------------------------------------------------------------------AbstractHeightened volatility, uncertainty and risk are now part of the normal course of business. Everything from consumer demand, to commodities prices and exchange rates remain volatile. Regulation is increasing and the consequences are unpredictable. How to drive profitable growth and manage risk in uncertain times is on everyone’s mind. Finance organizations must drive a future-ready enterprise that helps the business make better decisions by anticipating the future. They need to adopt new tools and disciplines to delivering stronger business foresight through analytics in order to improve management decision-making:• Align initiatives and resources with corporate objectives and market events• Gain new insight into the drivers of revenue, profit and working capital• Create timely, reliable forecasts that align business costs with new levels of business activity• Evaluate the performance of products, customers, channels and suppliers • Deliver accurate and timely performance and financial data and analysis to internal and external stakeholders• Align sales strategy and compensation programs with corporate objectives and compliance mandates• Improve insight and responsiveness to the effect of external and internal risks on profits, the balance sheet and cash flowNow is the time to automate and transform critical performance, governance and risk management processes, to thrive in the recovery, out in front and stronger than ever.
- MAIN POINT: In the midst of this, we asked 576 CFOs how they are helping their enterprises better anticipate and act on risks and opportunities.SPEAKER NOTES:In the midst of this environment, and as part of the most recent global C-suite study, IBM spoke at length with more than 570 CFOs and senior Finance executives from around the world about their accomplishments and aspirations. This was part of a broader series of interviews with 4,183 top executives covering 20 industries and representing six C-suite roles – CEO, CFO, CIO, CMO, CHRO, and CSCOs (supply chain). When we compared these recent CFO conversations to those from previous IBM Global C-Suite studies, an expanding CFO agenda emerged. At the center of this broadening agenda is a clear message – CFOs and their Finance organizations must focus on enterprise value creation by improving standards and analytical effectiveness. SEGUE: What did we learn?<<END>
- MAIN POINT: The CFO is the number two executive in the corporation.SPEAKER NOTES:The CFO’s role is a pivotal one, as all top executives recognize. CxOs say they work more closely with the CFO than with any other C-suite colleague except the CEO. When asked “Which of your colleagues do you work most closely with in support of the enterprise?” and select TWO:The CEO was mentioned 78% of the timeThe CFO was mentioned 65% of the timeAnd the rest of the C-suite (CIO, CMO, CHRO, CSCO) on average were mentioned 24% of the time.SEGUE: How effective are CFOs in coping with new pressures placed on them?<<END>
- MAIN POINT: Three analytic imperatives drive a future-ready enterpriseSPEAKER NOTES:So how are companies like [McCormick] and [Mueller] achieving these results? Leaders in analytics are investing in three areas. They:Transform the system of engagement with internal users.Span finance & operations, risk & performance management.Infuse scenario & predictive intelligence.Transform the system of engagement with internal users.The workforce closest to the customer value chain is increasingly going mobile. As a result, PM systems need to engage this workforce with mobile interfaces so that, for instance, sellers can update sales forecasts directly into smartphones and tablets with uninterrupted productivity, and warehouse managers can review and update performance scorecards as they inspect facilities. Dashboards, reports all need to be accessed through mobile devices.As more users contribute to the PM system, latency in workgroup collaboration needs to be reduced. Social Business capabilities need to be integrated into our PM systems so that workgroups can quickly collaborate and make decisions quickly. Instead of hours or days to set up meetings to review performance and decide on actions, work groups can collaborate through integrated social business capabilities on mobile devices and standard laptops to decide quickly.The IBM solutions advantage is the ability to combine mobile and social business to reduce latency and improve collaborative decision-making – to help drive new systems of engagement with internal users so that all the right users are benefiting from PM systems as frequently as needed.Span finance & operations, risk & performance management.Linking financial and operational performance management. With a deeper understanding of drivers we can then link financial and operational performance management - demand plans automatically update revenue plans, and call-center staffing plans automatically update divisional expense plans, and so forth across the enterprise. This creates more lead time – more foresight – as operational causes are linked to financial outcomes. Imagine if you had an extra month or quarter of reliable foresight on revenue or expenses. This extra lead time gives our business managers more time to assess alternatives and kick-off new initiatives that might have an impact sooner. IBM solutions do this better than other tools that were designed primarily for cost-center budgeting.Infuse scenario & predictive intelligence.We need to apply advanced statistical techniques to discover the causal relationship between operational drivers (such as inventory turns, trouble tickets, customer turnover) and financial metrics such as revenue automatically from the data. This provides more reliable root cause analysis. We then need to use these models to project the state of the metrics into the future as a more reliable baseline forecast. This approach would be applied to the most material and volatile metrics. We also need to apply scenario and range planning to account for uncertainty and risk. By modeling a range of inputs and running 100s or 1000s of simulations we can model a range of outputs; and then plan on a range of outputs. We’ll talk more about this in a moment.Big data PlatformAll these capabilities must capitalize on more diverse data sources than ever before from traditional ledgers to operational sources: operational data on demand, customer, econometric, supply chain, R&D, risk, etc. SEGUE: How do we enable these analytic imperatives?<<END>
- MAIN POINT: Leading analytics companies establish a dynamic, reliable performance management system that links finance and operations in order to steer business performance and adapt to risk.SPEAKER NOTES:Leading analytics companies link financial and operational performance management - demand plans automatically update revenue plans, and call-center staffing plans automatically update divisional expense plans, and so forth across the enterprise. This creates more lead time – more foresight – as operational causes are linked to financial outcomes. Imagine if you had an extra month or quarter of reliable foresight on revenue or expenses. This extra lead time gives our business managers more time to assess alternatives and kick-off new initiatives that might have an impact sooner. IBM solutions do this better than other tools that were designed primarily for cost-center budgeting.Furthermore, in volatile times, companies need to rely more on reliable, monthly or quarterly forecasts rather than annual budgets - that are outdated 1-2 quarters into the fiscal year – in order to steer business performance. Our solutions provide automated workflow, automated alerts and process reporting to help analysts automate the distribution, collection and aggregation of the forecasts from all the right participants in your enterprise. Security and access controls help automate and coordinate submittals and approvals. You can run process reports to provide real-time visibility into the status of forecasts whether they are„not started“, „incomplete“, „in progress“, or successfully ‚submitted“. We have customers where over 1,000 cost center managers are updating driver-based, rolling forecasts on a monthly basis, and rolling these up into consolidated corporate P&L, Balance Sheet and Cash Flow projections. Other tools, designed for cost-center budgets, are limited in these capabilities.SEGUE: How do we enable these analytic imperatives?<<END>
- MAIN POINT: Build your own agenda.SPEAKER NOTES:We’ve reviewed three analytic imperatives that leading analytic companies are pursuing. Your opportunity is to build your own agenda. Where ever you are on your journey towards a future-ready enterprise:Continue to spend less staff time on error checking, data collection and process monitoring.And spend more time on value added work: new business modeling, profitability & pricing and performance scorecarding.SEGUE: What are the next steps?<<END>