From data to decisions
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Transcript of From data to decisions
From data to decisionsLeverage data to improve decision making process
Andrea Terzaghi
September 2016
Data to understand and transform reality
Data is key to steer business: it is just the way in which we read and understand reality around us,
We want to take decisions to transform reality
Business Analytics and Insights:
1. Present data in such a way that everybody understands reality
2. Analyze it to explain the causes that determine reality
3. Use the understanding to support the decision making process to transform reality
Data value chain within an Organization
Organize Exploit«data
aware» decision
• Identify data sources and make them available in a standard and re-usable way internally in the organization.
• Allow everybody to access the same data set and have internally a «unique truth» to avoid useless discussions about data quality
• Use data in meaningful ways for Business.
• Data presentation and data visualization allow enhanced communicationof insights and pain points
• Storytelling capabilities make the difference and allow for a more profound understanding
• Capability to manipulate data and use it for Decision Support Systems
• Forecasting capabilities allow to understand «inertial» outlook
• What-if analysis and scenario planning allow to evaluate alternatives for change management
Providing data through a nice report is not enough:what really matters is what you do with it!
IT competencies are core in Data Organization
Discover Ingest Process Preserve Integrate Analyze Expose
Identify valuable data sources:• Internal data• External data• Social media
data
Drivers:• Cost, • Coverage• Quality
Load effectively external data into internal tools
Drivers:• File formats• Frequency• Data volume
Transform data into a format that allows re-use
Store effectively and with reliability data and make it available to applications
Different data sources are connected to generate new connections among data to allow new ways to analyze data
Insights are generated using integrated data
New KPI are generated from integrated data
Generated KPIs and reports are presented and made available to all levels of organization
Use BI tools to generate reports
You need a strong IT infrastructure to generate good quality data to enable further steps
Data exploitation generate understanding…
Visualize Describe Explain
• Typically BI tools are used, most common are:
• Business Objects• Microstrategy• Qlick ViewOther Business Performance Management tools are available such as• SAP BPC• Hyperion Essbase
New Trend: Infographics
• A common “way to see look at the business” within the organization with standard reporting
• Need to focus on specific issues: Ad-hoc specific reporting is needed every time to eviscerate the new issue.
• Storytelling is what you need.
• The need to answer to Senior management question about «Why» things are as they are, implies the identification of the business causes
• Most of the time, for any question, a specific analysis has to be newly generated
• Flexible Budget and other framework can be implemented
Data exploitation allows to explain reality as it is
.. to support decision making process
• Incorporate market and business understanding in the current inertial scenario.
• Incorporate already taken decisions
• Evaluate alternative scenarios of already known elements of the business
• Risk assessment based of different scenarios to evaluate worst case and its acceptability. Parameters of the business model vary within a certain range
• One off decisions to modify the Business model require deep dive analysis
• Examples:• evaluate a JV,• open a new market,• open a new factory/Point
of sales/Channel• Introduce a new product
ForecastScenario Planning
Business Case
evaluation
Decision making tools allow you to understand how bend reality at your will
I can offer to you:
• IT skills are needed: how to gather data, organize data, store data, maintain data, manage data into a DWH
• I can help your IT department to shape the data in the most useful way for Business perspective
• I know how to manipulate data to generate insights with Excel/VBA, R and intelligence
• Analyze and explain data are the skills you need
• I’m strong in reading data and providing explanations of what ‘s happening. I can easily merge together Financial and Market and industrial information to provide a comprehensive view of reality
• Use data to take decisions such as Business cases evaluations, forecasting, Risk assessments
• I can run any kind of Business Analysis to support your decision making process, communicate it simply and effectively and ensure accuracy and consistency
I can to deliver you high level decisionmaking support systems and tools
Organize Exploit«data
aware» decision
Thank you
http://www.andreaterzaghi.eu
Andrea TerzaghiGeneva Area – Switzerland
+41 79 127 0993
https://ch.linkedin.com/in/andreaterzaghi
References
• Data value chain: http://www.hs-schmalkalden.de/Englmeier-p-790/_/ValueChainBigData.pdf• Quote around data: http://www.slideshare.net/CharlieQuirk1/planning-for-the-future-of-planning-54865575• Data analytics and storytelling: https://www.thinkwithgoogle.com/articles/staffing-your-marketing-
measurement-team.html