ey big data report_low-res
ey big data report_low-res
ey big data report_low-res
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
06<br />
Becoming an analytics–driven organisation to create value<br />
Becoming a true valuedriven<br />
organisation<br />
Our <strong>res</strong>earch shows that …<br />
01 Value<br />
In <strong>res</strong>ponse to the <strong>res</strong>earch<br />
findings, EY has developed our<br />
<strong>big</strong> <strong>data</strong> capability framework.<br />
This outlines the components<br />
needed to support value-driven<br />
decisions, including centralised<br />
governance and technology<br />
infrastructure. It also shows how<br />
strategy and specific <strong>big</strong> <strong>data</strong><br />
functionality combine to support<br />
value-based decision–making.<br />
By proposing a best practice<br />
model for <strong>big</strong> <strong>data</strong>, the <strong>big</strong> <strong>data</strong><br />
capability map helps <strong>big</strong> <strong>data</strong><br />
teams demonstrate the potential<br />
for value creation among seniorlevel<br />
managers, stakeholders,<br />
customers, market observers<br />
and regulators.<br />
Why is the <strong>big</strong> <strong>data</strong> capability<br />
framework critical<br />
• All organisations will have to<br />
add<strong>res</strong>s value and place bets to<br />
win and survive in the current<br />
market.<br />
• The technology is developing at<br />
an outstanding speed.<br />
For example, in 2011 there were<br />
approximately 100 marketing<br />
science <strong>data</strong> analytics providers<br />
whereas at the start of 2014<br />
there were 1,000. This incredible<br />
growth is set to continue.<br />
• If you chase after the technology<br />
without purpose, you will burn<br />
lots of mon<strong>ey</strong> and not know<br />
where to focus.<br />
• The framework helps you think<br />
in a clear, prioritised and<br />
structured manner about where<br />
to place bets.<br />
Internet<br />
Strategy<br />
(enable<br />
corporate)<br />
Strategy<br />
(enable<br />
operational)<br />
Strategy<br />
(<strong>big</strong> <strong>data</strong><br />
capability)<br />
Fig 1. Big <strong>data</strong> capability framework<br />
03 02<br />
P<strong>res</strong>criptive analytics – Automate the <strong>res</strong>ponse<br />
Predictive analytics – What can we do to optimise<br />
Forecast – What if it continues<br />
Statistical analysis - Why did it happen<br />
Dashboards – Inform the right people<br />
Drill down – When/where/who<br />
Reporting – What happened<br />
04 Governance<br />
05 Security and regulatory compliance<br />
Infrastructure (Hadoop etc)<br />
Value<br />
based<br />
decisions<br />
EPM<br />
Human<br />
performance<br />
Leadership<br />
Digital<br />
Internal<br />
<strong>data</strong><br />
We use value to anchor the <strong>big</strong> <strong>data</strong> strategy<br />
01 02 03<br />
04<br />
05<br />
Big <strong>data</strong> al<strong>low</strong>s us to create and<br />
protect value in ways that were not<br />
possible before:<br />
• We can now understand more<br />
comprehensively what drives<br />
customer, supplier and employee<br />
behaviour.<br />
• By focusing on the value drivers<br />
that will have the greatest<br />
impact, we can place our bets<br />
appropriately.<br />
• For example, if for a fast food<br />
chain, one of the k<strong>ey</strong> value<br />
drivers is <strong>res</strong>taurant location and<br />
placement. Previously you would<br />
have tracked footfall traffic by<br />
physically fusing market surv<strong>ey</strong>s<br />
and counts. Now you can track<br />
mobile phone movement as well<br />
as other sources to understand<br />
where the best location is.<br />
The value framework al<strong>low</strong>s us to<br />
be clear about the most important<br />
decisions and focus the <strong>data</strong><br />
strategy around these decisions.<br />
Frequently <strong>big</strong> <strong>data</strong> initiatives<br />
are determined by what <strong>data</strong> is<br />
available, i.e., it is technology–<br />
driven. This can be turned around<br />
by being clear what are the most<br />
important decisions ensuring you<br />
build a competitive advantage by<br />
answering them.<br />
The value framework enables us<br />
to choose the appropriate type of<br />
analytics for the challenge.<br />
Do you need to know the next best<br />
action, or do you need to know<br />
why something is happening Do<br />
you need to do this repeatedly or<br />
is it a one off question By being<br />
clear about the type of analytics<br />
required, this will help focus on the<br />
right tools, skillsets and solutions.<br />
The main reason organisations<br />
struggle with <strong>data</strong> quality is<br />
because there is neither ownership<br />
nor accountability for quality.<br />
Many organisations are now<br />
focusing their offering behind the<br />
chief <strong>data</strong> officer and ensuring<br />
that <strong>data</strong> is seen as an asset equal<br />
to others.<br />
The visible protection of <strong>data</strong><br />
is critical to retain customers,<br />
employees and suppliers trust.<br />
It is fundamental to have access<br />
to this <strong>data</strong>, and not being able to<br />
prove to these stakeholder groups<br />
that you can protect their <strong>data</strong><br />
will place you at a competitive<br />
disadvantage.<br />
20<br />
21