The document discusses how companies can fully harness the power of data analytics. It provides two key insights: 1) Companies must choose the right data, build predictive models, and transform capabilities. 2) They should develop business-relevant analytics, embed analytics in simple tools, and develop big data skills. The insights emphasize upgrading managerial analytics skills so decision-making is data-driven. Acting on these insights can help Indian managers lead a successful digital transformation.

1. MAKING
ADVANCED
ANALYTICS
WORK FOR YOU
INSIGHTS BY - KUNAL BHATTACHARYA

2. INTRODUCTION
Big data could transform the way companies do business. According to research by Andrew McAfee and Erik
Brynjolfsson, of MIT, companies that inject big data and analytics into their operations show productivity
rates and profitability that are 5% to 6% higher than those of their peers. Yet, most companies are unsure
how to proceed. While companies such as Google, Netflix and Amazon continue to scale greater heights,
many companies are yet to understand where to start and whether to start investing in analytics at all. In
the following slides, I will share my insights about how to fully harness the power of data and analytics.

3. DIGITAL
Take every decision based on what the
data says about the past and indicates
about the future.
TRADITIONAL
Use some kind of data (as per
availability) to understand the past and
then decide what you feel is the best.

4. INSIGHT - 1
INSIGHT - 2
MANAGERIAL
RELEVANCE

5. INSIGHT - 1
Fully exploiting the power of data and
analytics requires three mutually
supportive capabilities:
I. Choose the right data
II. Build models that predict and optimize
business problems.
III. Transform the company's capabilities

6. CHOOSE THE RIGHT
DATA
With bigger and better data enabling
companies to have both panoramic
and granular views of their business
environment, the companies need to
up their game and find deliberate and
creative ways to identify usable data
to improve operations, customer
experiences and strategy.

7. BUILD MODELS THAT
PREDICT & OPTIMIZE
BUSINESS PROBLEMS
The most effective approach to
building a model rarely starts with
the data; instead it originates with
identifying the business opportunity
and determining how the model can
improve performance.Data are
essential, but performance
improvements and competitive
advantage arise from analytics
models that allow managers to
predict and optimize outcomes.
Hmm, so how
should we price
our products for
more profit?

8. TRANSFORM THE COMPANY'S
CAPABILITIES
Senior executives have to undertake thoughtful
organisational change to make sure the managers
understand and trust big-data models. That will help align the
company's decision-making into a data-driven process
wherein analytics can be exploited successfully to provide a
clear blueprint for realizing business goals.

9. Transforming
organisational
capabilities is not a
joke! How do I do
that?

10. INSIGHT - 2
Three areas of action can help transform
the companies' big data and analytics
capabilities:
I. Develop business relevant analytics that
can be put to use
II. Embed analytics into simple tools for the
front lines
III. Develop capabilities to exploit big data

11. DEVELOP BUSINESS
RELEVANT ANALYTICS
THAT CAN BE USED
Big data and analytics
implementations must be in sync
with the company's data-to-day
processes and decision-making
norms. It must be ensured that the
analytics and associated tools
complement the existing decision
making processes.

12. EMBED ANALYTICS
INTO SIMPLE TOOLS
FOR FRONTLINE
MANAGERS
Managers need transparent methods for using
the new models and algorithms on a daily basis.
They are not expected to handle terabytes of
data and apply modelling techniques; instead, all
those complex processing need to be handled by
the developers and analyst teams and the
resulting data driven insights, with simple visual
interfaces, need to be provided to the managers.

13. DEVELOP CAPABILITIES
TO EXPLOIT BIG DATA
Even with simple and usable models, most
organizations will need to upgrade their
analytical skills and literacy. Managers have
to undergo “field and forum” analytics trainings,
whereby they participate in real-world, analytics-
based workplace decisions that allow them to
learn by doing. Only then will they be able to
make a part of their daily operations.

14. These insights are of immense relevance to managers in India. The
first actionable insight from the above points is that the managers
need to upgrade their own analytics skill sets to able to act on the
second actionable insight - transitioning the company's decision
making process into a data-driven, analytics based process. These
insights can serve as the framework for the managers to engineer
the transition to big data and analytics and provide them with a
comprehensive list of "what to do" and "how to do". They also need
to make sure that data is analysed as per the business need and
not the other way round. In a nutshell, by acting on the
aforementioned insights, managers in India can lead the digital
transformation of their companies with utmost success.
MANAGERIAL RELEVANCE

15. TO CONCLUDE
The era of big data is evolving rapidly, and
most companies should act now. But rather
than undertaking massive overhauls of their
companies, executives should concentrate on
targeted efforts to source data, build models,
and transform the organizational culture.
Such efforts will play a part in maintaining
flexibility. That nimbleness is essential, given
that the information itself—along with the
technology for managing and analyzing it—
will continue to grow and change, yielding a
constant stream of opportunities.

16. THANK YOU