elizabeth elhassani – director, enterprise analytics & insights, lexisnexis at mlconf atl
DESCRIPTION
Bring Analytics to Life with Passionate Business Uptake Big Data is an effective tool to stem attrition and many other important challenges companies face. In this session, I will share with you a case study of how LexisNexis Risk Solutions has been an industry leader by integrating predictive analytics throughout our organization from ideation through passionate uptake so that we can understand, anticipate and stymie attrition very early on in the customer lifecycle. During this session, I will explain how you can harness the power of analytics internally at your company, communicate the impact it will have on your business, operationalize it for end users, and create 100 percent buy-in and uptake by senior executives, finance, HR, customer service, sales, marketers and many other departments. In addition, I will talk with you about how we regularly use data mining and predictive analytics to make intelligent business decisions that drive real-time, bottom-line-impacting results.TRANSCRIPT
Bring Analytics to Life with Passionate Business UptakeElizabeth Elhassani
Challenge: Create a culture of analytics
The Problem: How do I create interest and 100% uptake of predictive analytics, big data, business intelligence, etc. in our business or with our clients?
We hold the keys to business growth
The Challenge and Problem
2
5 keys to create a culture of analytics:
3
1. Figure out implementation 1st
2. C-suite support
3. Suck it up and sell
4. Tie results to revenue
5. Communicate, communicate, communicate
Algorithm housed in
HPCC
Accounts likely to attrite flagged
Alerts sent to Sales
Sales receives alerts in
dashboard (OBIEE)
Sales records outcome
Fed back into HPCC HPCC (High Performance Computing Cluster) is a massive parallel-processing computing platform that solves Big Data problems
Open Source:www.hpccsystems.com
Figure out implementation 1st
Figure out implementation 1st
Get C-suite support for major initiatives
Get a sponsor as high up the food chain as you can
Why is this important?
Other initiatives will trump your efforts Resources will shift Focus will shift
A strong voice removes roadblocks
Suck it up, you have to sell
Why? The business, clients, executives, etc. don’t know what they don’t know
• Learn the business
• Speak in their language not yours
• If you completed an initiative in one business unit, demo it in another
• Show mock-ups of delivery pieces
• Never overpromise… they will lose faith
Tie results to revenue…
8
6%
12%
Actioned Control
Attrition Rate (# of accounts)
52% drop
If the ACTIONED population had attrited at the rate of the CONTROL population…
• We would have lost $131k, rather than the $93k of actual attrition
• Result: $40k of
annualized incremental revenue
TIE TO REVENUE
Communicate, communicate, communicate
• Do a roadshow. Share results up the food chain and across business units.
• Send email updates so it is not forgotten• Jump into other team meetings• Request announcements be put into newsletters • Communicate frequently and consistently
Review: 5 keys to create a culture of analytics
10
1. Figure out implementation 1st
2. C-suite support
3. Suck it up and sell
4. Tie results to revenue
5. Communicate, communicate, communicate