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Soumendra Mohanty Global Lead, Information Management Accenture
cross-functional approach with the option of drilling down to functional levels (such as finance. it can play a significant role in bringing together people. You may have heard some or all of your clients asking questions such as. given that the mere presence of data does not make it significant or insignificant. With analytics. Executive Information Systems (EIS). it will go a long way in addressing the abovementioned concerns. what has changed rapidly in recent years is the ability of business executives to make timely decisions based on the availability of accurate facts. Until recently. manage and improve performance across our enterprise? • Use analytics to meet our business objectives? Although analytics per se may not satisfy client needs in a holistic manner. especially unstructured data. 2 . it will be quite common for business executives to ask their IT executives ‘why did we not have this information prior to our decisions?’ The typical answer that ‘we did not have such insight into data’ will no longer be acceptable. Data. there is no dearth of data. This business need has increased the significance of descriptive (what is happening or happened) and predictive analytics (what will happen if certain trends continue and what may be the best course of action). how can we: • Increase the value of existing investment and lower risk? • Become more agile to sense and exploit opportunities? • Obtain actionable insights from the ever-increasing data in our systems? • Transform our data into asset? • Dynamically re-allocate resources? • Measure. it was not uncommon for decisions. we can harness the power of data to bridge the gap between abundant passive data and strategic and timely decisions. Thanks to analytics. Business Intelligence (BI). Depending upon how analytics is integrated into the fabric of an enterprise. of late it has come to form an important component of a company’s competitive strategy and taken center stage. In this sense. Decision Support Systems (DSS) and Information Management. sales. Business Drivers of Analytics There was a time when the usual complaint was about lack of data or inability to access it. Today. HR and others) as and when required—important step for improving business performance across an enterprise. For long-term competitive advantage. companies are using analytics tools to make business sense of data. However. For many companies. analytics has been around for several years in many forms including.In the near future. That said. it is already serving as a key source of competitive. to be based on gut-feeling or intuition. Why Analytics? Analytics is the process of using quantitative methods to derive actionable insights and outcomes from data. data and more data Pick up any research report on data and you will notice that they all focus on one aspect quite consistently—the phenomenal growth in the volume of data. From deep functional insights to crossfunctional predictions More and more companies are forgoing the siloed decisionmaking processes in favor of a holistic. there is too much of it—thanks to the many sophisticated data storage and processing technologies. processes and technology at a company. market and commercial insight. though not limited to. in fact. Increasingly. companies will need to integrate analytics into their business rules and processes across their enterprise. at times very important ones. The need to interpret data has always been around. simply extracting relevant data and applying methods and algorithms to derive insights is not enough.
Oscar notices that other competitors have also outpaced Briknet in the region during the same period due primarily to increased sale of fungicides and insecticides. Briknet1. His insights help the team in identifying key issues and opportunities and in strategizing the future course of action 1Not a real company. Here are snippets of real life scenarios that you may relate to where analytics has a direct impact on business outcomes. It also confirms that companies that invest heavily in developing analytical skills and adopt an analytical mindset recover faster from economic downturns than their competitors. application enablement. Briknet’s regional lead. 6% from pricing initiatives and 1% from currency fluctuation. he is able to pin down the source of the growth that Jack saw on the Executive Dashboard. 3 . By contrast. has access to another set of facts according to which Briknet is actually losing market share to a competitor whose revenue grew by 27% in the same region. analytics as a managed service provides a platform for companies to align their investments to business value. use insights from analytics. The sources was a combination of three factors: 8% from volume growth. performance management processes. companies are investing in analytics to reach strategic business decisions quickly and to differentiate themselves from their competitors. It also integrates key capability components such as competitive discovery and exploitation. and governance and operating model. key value drivers.Speedy decisionmaking Increasingly. He also sees that maximum growth occurred only in one region • Oscar shares his insights at the quarterly roundtable discussion with Jack. Quarterly Review Analytics An intelligence-driven decision support capability sheds light on competitive information not only to reliably answer where a company is winning and losing but also to predict reactions to market conditions with precision. • In preparation for the Quarterly review. They indicate that the company’s revenue grew by15% in Latin America—up by 8% from the previous year Analytics as a managed service Traditional large scale analytics programs called for significant upfront investment with the possibility of delays in the realization of business value or value realized was less than promised. Let us help our client. analytics is less about fluff and more about hard facts. Our research shows that companies that have invested in advanced analytics capabilities significantly outperform their competitors. Impact of Analytics Indeed. In fact. Jack at Briknet notes that all the indicators on the Executive Dashboard are green. data and infrastructure management. Since he is looking at data from another perspective. the strategic planning director and other colleagues. • However Oscar. and to breakeven faster than otherwise. correct a course of action mid-way.
predicts a spike for equipment demand in two regions of the United States • The pricing team works with the customer service representatives and account managers to merge the insights from various analytics teams. 2Not a real company 4 . rather than selling them individually Going Forward… We are likely to see more and more companies harness the power of analytics to obtain a fine-grained visibility into their business process prior to making key decisions and use it as a competitive differentiator. The Analytics Center of Excellence in Bangalore provides industryspecific analytics solutions covering a broad range of areas such as Process Excellence. The Center has seasoned experts who are highly knowledgeable about industry-specific functional knowledge and analytics technologies. Claims and Fraud Analytics. They develop a strategy that locks pricing in advance for both types of equipment and creates a bundle that competitors cannot match Accenture Analytics Accenture has formed a strategic alliance with SAS to help clients use analytics as a competitive differentiator. • Based on the issuance of Federal and State bids. enhance cost and cash advantage. Pricing and Profit Optimization A business workflow that integrates sensing analytics with formal processes for pricing and sales is able to help enterprises maximize revenue through increased win-rates and profits. Coilnet2. Customer Centricity and Churn Analytics. Information Management Strategy. Data Management Strategy and Content Analytics. Supply Chain Analytics. to assist its customers win Federal and State contacts. It also provides end-to-end consulting and implementation services in key areas including Analytics Roadmaps. restructure business at scale and to win the war of talent. improve operational excellence. • Customers of Coilnet who won Federal and State contracts were stunned by its pricing strategy and the insights it shared with them. Increasingly business executives will draw on the insights from analytics to help them drive growth across the organization.• Factual data from many angles helps Briknet business executives increase revenue beyond initial projections while simultaneously increasing market share and profitability in Latin America • Price elasticity and profitability analysis reveals that Coilnet could actually charge a 12% premium over standard margins by bundling products. Coilnet’s sensing engine. which combines web-sniffers with analytics. Let us help our client. Insurance Analytics and Health Care Analytics.
benefits. 2011. 5 .000 people serving clients in more than 120 countries. Copyright © 2011 Accenture All rights reserved. Accenture. IBM and Oracle. comprehensive capabilities across all industries and business functions. its logo. Microsoft. Its home page is www. SAP BOBJ. Accenture Analytics Subscription Environment (AASE) and implementation frameworks. Accenture's Analytics Program has been working with industry experts to develop industryspecific point of view (PoV) papers for the opportunities that analytics will generate in the coming years. technologybased accelerators. deep understanding of analytics technology. About Accenture Accenture is a global management consulting. with approximately 236. and extensive research on the world’s most successful companies. strong alliance with SAS and our governance models when providing analytics solutions. This pragmatic approach aligns our offerings to the business objectives of our clients. Teradata. 31. methodologies. Industrialized Delivery For more than a decade. Implementation and Management We draw on our functional experiences in various industries.Here is how we help clients Information management strategy and business analytics We help clients build an information management and analytics roadmap and to prioritize significant opportunities across business applications and business processes. all of which help clients become agile. and High Performance Delivered are trademarks of Accenture. This makes us a reliable partner in the eyes of our clients. stronger analytics and altered competitive landscapes.com Analytics factory and subscription-based offering We provide support to clients who want to build their own analytics applications.5 billion for the fiscal year ended Aug. Combining unparalleled experience. The company generated net revenues of US$25. our work environment. Research and innovation Our analytics services allow clients to reach markets that were previously unapproachable due to high cost and capital investment or other restrictions and to reshape industries by utilizing innovative distribution channels. technology services and outsourcing company.accenture. implement pre-packaged analytics services or leverage state of the art analytics hosted platform as an offering by leveraging our expertise in Proprietary Methodologies We use proven roadmaps. start their analytics journey quickly. Career Opportunities at Accenture If you enjoyed reading this article and would like to explore career opportunities in India with Accenture. we encourage you to visit us and learn about vacancies. Accenture collaborates with clients to help them become high-performance businesses and governments. we have developed our information management and analytics capabilities and implementation factories around an ecosystem of information management and analytics leaders such as Informatica. SAS. minimize risk and optimize cost. career path and much more.
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