The Art and Science of Real Time Analytics Olaf Larson

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Collapsing the speed of decision making?

It is not about real time data, it is about real time action

An opportunity missed is an opportunity lost

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What we’re going to talk about today

Faster Time to Action

• How can it help

• What hinders success

• What can you do

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How can faster time to action help you?

Leverage of text mining through unstructured data in real time provided rapid detection of brand damaging communications in social media

• This enabled was quick reaction through PR and social media sites.

• The rapid reaction reduced negative consequences significantly and prevented substantial corporate losses.

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How can faster time to action help you?

Streaming analytics of online

sales volumes picked up pricing

errors

• System used pattern recognition to quickly identify negative behaviors

• Reduced losses and preventing potential damaged reputation.

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How can faster time to action help you?

Leverage of near real

time online activity to

shape shopping cart

recommendations for

major retail vendor

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How can faster time to action help you? (

Leverage of streaming online

activity data merged with

preformed models allowed

for rapid identification of high

risk activity and potential

fraud.

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Why are some efforts less successful?

Fast data and

processing with

no ability or

need to act

Analytics need to be

aligned with business value

• e.g. rapid reporting of information for actions that are not high value

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Why are some efforts less successful?

Fast data and processing with

no ability or need to act

Faster data without faster

decisions

Fast analytics that aren’t fast enough

(10 seconds isn’t

actually fast)

Fast data, fast decisions, fast

actions, no impact

Your decision framework

needs to be aligned to

your analytics

• Need ability to shift strategy at speed

Architecture or Technology misaligned • Using standard platforms vs.new architectures

designed to optimize quick pass through and

rapid processing • Trying to push too much computing into

interaction instead of leveraging callable services or restful APIs

What you can do

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Collapse the speed of decision making

• Rationalize your decision framework

• Change paradigms

• Improve the decision process

• Get ahead of the curve on detection

• Speed up consumption

• Match platforms and tools to the need

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Rationalize Your Decision Framework

Key question: what decisions need to be made when given

your current business strategy?

• Pushing real time data through is not without cost and if there is no real need for real time analytics there is a loss of ROI

• Align data availability, tools, and decision engines with framework

•Real Time vs. Near Real Time vs. Daily Batch vs. Monthly Batch vs.

Quarterly Batch

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Rationalize Your Decision Framework

Create an agile

decision framework

Decentralized decision authority allows better

flexibility to leverage more rapid data and insights

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Change the paradigm

Recognize

our job is not

just data

exploration

and reporting,

but driving

action

Move from Insight Delivery To Change Agent

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Really change the paradigm

Deliver decisions

instead of just insights

• Reduce the time to action by capturing the decision algorithm

• Requires:

• Trust in your data and engines

• Trust in your analytics processes and teams

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Change the paradigm

• Stop measuring your teams on time to insight

• Measure success by actions taken and business outcomes driven

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Apply Process Engineering to Decisions

• Embed analytics into processes

• Make the non-automated decision process more efficient

• Push decisions down stream as far as possible

• Empower decisioning with guard rails and business rules

• Think Golidlocks – not too centralized, but not out of control either

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Get ahead of the curve on detection

More time is lost waiting to find out you need to take action than actually waiting on analysis to guide actions

oAutomated detection of anomalies and trend changes

oPushed alerts

oForecasting

oLead indicators

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Speed up consumption

Information Ergonomics

Cut the clutter

Put insights where they will be used not in separate

reports

Provide insight on demand or proactively

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Align Infrastructure to Framework

Assemble and position your data based on need

Make sure you can move the data and process algorithms in

time

Move ad hoc analytics capabilities near real time

• Spark provides us a common data fabric for computation across batch data integration, Data Science, and realtime streaming data

Tap your “big data” where it sits using rapid analytics tools

Implement agile analytics

Propriet ary and Confidential - ©2016 Clarity Solution Group, LLC

Change Your Culture

• Think processes, not products

• Think enablement and automation

• Align analytics resources with decision processes (not departments or data sources)

• Get and grow the right kind of people

• Think Agile – move quickly and assemble on the fly

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Collapse the speed of decision making

• Rationalize your decision framework

• Change paradigms

• Improve the decision process

• Get ahead of the curve on detection

• Speed up consumption

• Match platforms and tools to the need

Olaf Larson

Partner

olarson@clarity-us.com

www.clarity-us.com