transforming a business through analytics
TRANSCRIPT
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Day in Your Life
–Buzz Aldrin
“You promised me Mars
Colonies, but we got Facebook
instead”
Uber• A company worth XX • A taxi company that does not have cars or drivers
A Taxi company
without cars or drivers 4
Digital Organizations
• Organizations that uses Digital technologies to fundamentally rethink how they work
• Organizations that change the bottom line and leap us to the future the way industrial revolution did
• Most of us in our age dress better, eat better, live longer, compared to King’s in 18th century
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If you collect data about your business, and feed it to a Big Data system, you will find useful insights that will provide competitive
advantage – (e.g. Analysis of data sets can find new correlations to "spot business trends,
prevent diseases, combat crime and so on”. [Wikipedia])
Question the Data
• Analytics let you question the data
• How many, history, trend
• They let you match the reality with your belief of how the world works
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KPIs and their Role
• KPIs (Key Performance Indicators) are numbers that can give you an idea about performance of something
• Examples - Countries have them ( GDP, Per Capita Income, HDI index etc) , Company Revenue , Lifetime value of a customer , Revenue per Square foot ( in retail industry)
• Often one indicator tells half the story, and you need several that cover different angles
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What is a Dashboard?
• Think a car dashboard • It give you idea about
overall system in a glance
• It is boring when all is good, and grab attention when something is wrong
• Support for drill down and find root cause
Example: Big Data for Development
• Done using CDR data • People density noon vs. midnight
(red => increased, blue => decreased)
From: http://lirneasia.net/2014/08/what-does-big-data-say-about-sri-lanka/
Beyond Simple Analytics
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Picture by Dan Ruscoe (CC) https://www.flickr.com/photos/druscoe/8031488298
Realtime Intelligent
Real-time: Value of some Insights degrade Fast!
1. Stock Markets 2. Fraud 3. Surveillance 4. Patient Monitoring 5. Traffic
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Boyd's key concept was OODA loop.
According to this idea, the key to victory is to be able to create situations wherein one can make
appropriate decisions more quickly than one's opponent.
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Real Time Analytics with Complex Event Processing
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Case Study: People Tracking with BLE
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• Traffic Monitoring
• Smart retail • Airport
management
Track people through • BLE via triangulation • Higher level logic via
CEP
"I skate to where the puck is going to be, not where it has
been." - Wayne Gretzky
(Called "the greatest hockey player ever”
He is the leading scorer in NHL history)
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Predictive Analytics
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Machine learning • Given examples build a
program that matches those examples
• We call that program a “model”
• Major improvements in last few years (e.g. deeplearning)
Can you “Write a program to drive a Car?”
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Case Study: Predict Wait Time in the Airport
• Predicting the time to go through airport using location data
• Real-time updates and events to passengers via the App
Optimizations
• Logistics, day to day operations
• Supply Chain Analytics
• Demand prediction
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Get Close to your Customers• Use analytics to
optimize the experience • Predict issues and
proactively handle them ( e.g. reschedule automatically when flight has missed)
• Predict churn and act • Track the brand and
manage it • Target your marketing
New Digital inspired Products and Revenue
Streams
• New way to do business (e.g. Uber, Amazon Go)
• Product as a Service (e.g. IoT Jack hammer, Light as a service)
• Progressive Insurance Gadget • Sell insights ( Telcos knows
where people are, credit card companies know what people buy and their demographics, navigation apps know traffic)
HR, Performance, Learning
• Hiring
• Skill registries, Finding right person for the job
• Perfomance Appraisal
• Post mortem, learn from past incidents
• See patterns for improvement
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Data Driven Organizations• Goals defined as well balanced
KPIs
• The First KPI should measure the output (e.g. processed claims count)
• the second KPI should measure the quality (e.g. mistakes occurred).
• Monitor and manage KPIs
• Many Experiments, KPIs for decisions, and keep what works
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Making this real
Conceptual Architecture
• APIs play a key role in data collection
• Need to respond to events as fast as possible
• Incremental Analysis is key
Anomalies, Alerts, Drill Down, Decisions
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Can we not do it?
• No, because whoever does that have decisive advantage
• It is like gun power was more risky ( it can get wet, can be blown, you can run out), yet you need it
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Analytics does not replace Thinking and Common Sense
How to do it? Small Wins• Start Small
• Find pain points, and use technologies to fix them ( problem: vehicle fleet cost is too much, track the fleet usage stats)
• Improve iteratively, go all the way until you make a real difference
• Keep your eyes on the goal, not on shiny technology
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Questions?
https://hackernoon.com/role-of-analytics-in-a-digital-business-e4762b20272f