analytics: the new path to value, smarter industries symposium
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8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Analytics: The New Path to ValueHow the smartest organizations are embedding analytics to transform insights into actio
Fred BalboniBusiness Analytics and Optimization Global Services Line Leader
Findings from the 2010 New Intelligent Enterprise Global StudyA collaboration between IBM Institute of Business Value and MIT Sloan Management Re
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Institute for Busin
+
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Organizations that lead in
analytics outperform thosewho are just beginning to
adopt analytics
4
Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute of Business Value study. Copyright © Massachusetts Institute of Technology
*within business processes
Key finding 1Analytics correlates to performance
Top Performers arelikely to use an anapproach over intu
3x 5.4x
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Ability to get the data
Management bandwidth due to competing priorities
Lack of skills internally
Knowing how to use analytics to improve the business
Existing culture discourages info sharing
Data Ownership is unclear or governance is ineffective
Lack of executive sponsorshipConcerns with the data
Perceived costs outweigh the projected benefits
No case for change
34%
28%
24%23%
23%
22%21%
21%
15%
Primary obstacles to widespread analytics adoption
Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute of Business Value study. Copyright © Massachusetts Institute of Technology
Key finding 2Organizational, not data or financial concerns, are
holding back adoption
3
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Historic trend analysis
and forecasting
Standardized reporting
Data visualization
6
In 24 monthsAnalytic techniques providing the most value
Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute of Business Value study. Copyright © Massachusetts Institute of Technology
Key finding 3Organizations want to “see” insights more clearly
and act on them
Today
Historic trend analysis
and forecasting
Standardized reporting
Data visualization
In 24 months
Data visualization
Simulations and scenariodevelopment
Analytics applied withinbusiness processes
Incsus
Dec
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Financial management and budgeting
AspirationalOperations and production
Sales and marketing
Strategy and business development
Product research and development
Risk management
General management
Brand and market management
Customer experience
Key finding 4Analytic use propagates across functions
in a predictable pattern
Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute of Business Value study. Copyright © Massachusetts Institute of Technology
Workforce planning and allocation Transformed
Customer service Experienced
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Key finding 5As adoption spreads, there is a growing demand
for a greater variety of skills and deeper expertise.
TransformedExperiencedAspirational
87%
71%
47%
IT department
At point-of-need
LOB analytic un
Centralized anal
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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Analytic programs create value for organizations in threeways:
Areas of Benefit Analytic Solutions
Infrastructure
ProductivityTake-out cost andimprove efficiency
Analytics Simplification / BAO Foundation
BusinessProductivityImprove control, bottom
line and stop losses
Finance / Risk / FraudAnalytics
Supply Chain /
Operational Analytics
Return toGrowth
Intelligent profitablegrowth
Human CapitalAnalytics
Marketing andCustomer Analytics
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10
1Focus on thebiggest and
value opport
4Keep existing
capabilities whileadding new ones
5Use an informationagenda to plan for
the future
2Within eacopportunitquestionsnot data
3
Embed insights to driveactions and deliver valueSource: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute of Business Value study. Copyright © Massachusetts Institute of Technology
“New path to value” is a five-point approach tooperationalizing analytics
8/8/2019 Analytics: The New Path to Value, Smarter Industries Symposium
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11Source: Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute of Business Value study. Copyright © Massachusetts Institute of Technology
Pick your spot1. Biggest and highest value opportunity
Prove the value2. Start with questions
Continuous Value Delivery
4. Add capabilities 5. I
How to get started
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