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Analytics Consulting

Analytics Consulting

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Published by: abhimails on Sep 17, 2008
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Analytics Consulting, Prasanna ParthasarathyBharathidasan Institute of Management, Trichy
Analytics Consulting
Contributed By
Prasanna Parthasarathy
Currently with Infosys Technologies as Associate Consultant –Business Intelligence-Enterprise Solution
 Alumnus of Bharathidasan Institute of Management 
 
Analytics Consulting, Prasanna ParthasarathyBharathidasan Institute of Management, Trichy
Analytics Consulting
1. Market Analysis – Opportunities, Current Size and Potential
Retail industry is one of the most competitive industries - thanks to low margins itoffers. In low margin businesses it is the volume of operations which plays thecrucial role. In the quest to get maximum share of the consumer’s spend retailershave been using technology to chalk out their strategies. Variety of CRMsolutions are one such example of the usage of technology. Undoubtedly, manyretailers were able to reap early dividends owing to their Customer LoyaltyPrograms. However, over a period of time they have become but a standardfeature across retailers and as such no longer serve as a differentiator.In such a scenario focus is back on how to improve upon the elusive ‘Net Profit’figure. The answer probably lies not in ‘volume selling’ but in ‘intelligent selling’and a host of other initiatives called together as ‘Analytics consulting’.After Finance and Manufacturing industries Retail is one the biggest spender onIT. Present size of Retail industry worldwide is XXX bn USD and with anestimated spending of Y% of revenues on IT, it turns out to be sizeable ZZ bnUSD. Though data is not readily available to ascertain the pie of Analyticsconsulting from this, rough estimates for Business Intelligence spend provide afigure of AA mn USD. It is to be noted IT organisations can look forward to gain10% of this in near future.Also, please note that Analytics consulting is only the area suggested by us tobegin with to be a player in much bigger area of opportunity known as AnalyticsConsulting.
2. Targeted Market
Retailers across the world.
 
Analytics Consulting, Prasanna ParthasarathyBharathidasan Institute of Management, Trichy
3. Service Idea
“The key in business is to know something that nobody else knows.”
— Aristotle Onassis
“To understand is to perceive patterns.”
 
— Sir Isaiah Berlin
Analytics consulting
is sometimes described as the ‘
Complete Thought’
 involving both the ‘Left Brain’ (Logical, objective; sees the details) and the‘Right Brain’ (Intuitive, subjective; gets the big picture).
 Analytics consulting will encompass a whole gamut of solutions which aim atimproving the efficiency of operations at a retailer’s end.
The benefits of 
Analytics consulting or Predictive Analytics
extend from costreductions to incremental revenue, from customer cross-selling and upselling toproduct supply chain optimization and market basket analysis.In general, some IT applications, systems or projects are mostly cost-centric,whereas others tend to support producing incremental revenue. For example,metadata initiatives, data mart consolidation or certain kinds of data qualityprojects tend to support operational efficiencies and cost reductions, largely byhelping IT to work smarter and do more with less.
This is Business Intelligenceor Data warehousing.
 
This is the space where Data warehousingorganizations across the world foocuses currently
. It is true, incrementalrevenues sometimes result from advanced applications with sophisticateddynamics from data mart consolidation when the entire technology stack isconsolidated. But by and large the result is cost reduction.In contrast, Analytics consulting achieved by predictive analytics tend to providebenefit in generating incremental revenue. It makes sense to drill down on bothdimensions - the customer as well as the product - and consider how predicative

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