Data Analytics Strategy Toolkit

Data Analytics Strategy Toolkit
Data Analytics Strategy

Summary of the Corporate Current & Target Data Data Analytics Vision, Strategic Objectives and Stakeholder
Team & Budget
& Business Strategy Analytics Maturity Levels Mission & Values KPIs to reach our Vision Management
5 Pillars to reach our Strategic Objectives
Data Management & Data Governance & Analytics Tools &

Data-driven Organization Use Cases
Infrastructure Compliance Techniques
1. Data sources and acquisition 1. How data governance enables 1. Data visualization tools and 1. Characteristics of a data-driven 1. Use cases in the healthcare
2. Data storage and processing an organization to become techniques organization industry
solutions data-driven? 2. Statistical analysis tools and 2. Building a data-driven culture 2. Use cases in the
3. Data integration, 2. Data governance framework techniques 3. Developing data skills and pharmaceutical industry
transformation & ETL 3. Data privacy and security 3. Machine learning tools and capabilities 3. Use cases in the marketing
Processes 4. Data compliance management techniques 4. Creating a user-friendly data function
4. Data quality & cleansing 5. Data ethics and responsible 4. Big data tools and techniques infrastructure 4. Use cases in the retail industry
5. Data infrastructure scalability & use 5. Data preparation tools and 5. Fostering experimentation and 5. Use cases in the financial
performance 6. Implementing data governance techniques innovation industry
6. Emerging technologies in data and compliance 6. Analytics tools selection matrix 6. Case study 6. Use cases in the HR function
management and 7. Emerging trends and 7. Use cases in the supply chain
infrastructure innovations & manufacturing industry
7. Successful implementations 8. Charter template 8. Use cases in the public sector
List of Potential Initiatives for each Pillar

Business cases and financial models to help us assess our list of potential projects
Project Prioritization, Business Roadmap and Implementation
Change Management
Introduction
• This Toolkit was created by ex-McKinsey, Deloitte and BCG Management

Consultants specialized in Data Analytics. It includes all the Frameworks, Best
Practices & Templates required to design and implement a robust data analytics
strategy, and build a data-driven organization that relies on data to make informed
decisions, optimize processes, identify trends, and drive overall performance.
Build a success story such as Netflix who positioned itself as a leader in the
streaming industry by leveraging data-driven insights.
• Join the 200,000+ Executives, Consultants & Entrepreneurs who are already
leveraging our Management Consulting Toolkits to improve the performance of
their organization and boost their own career.
• If you have any questions, send us an email at support@domontconsulting.com
and one of our ex-McKinsey, Deloitte & BCG Management Consultants will get
back to you within 2 business days.”
Aurelien Domont
Management Consultant
Domont Consulting Managing Director
2
Success stories of companies using Data Analytics
By leveraging data-driven insights, Netflix has positioned itself as a leader in the streaming
industry, continuously adapting and innovating to meet the evolving demands of its subscribers
One success story of a company that created a data analytics strategy is Netflix. Netflix is a global streaming service that provides a
wide range of movies, TV shows, and original content to its subscribers. The company has leveraged data analytics to transform the way
it operates and make informed business decisions.
Netflix collects vast amounts of data from its users, including their viewing history, search queries, ratings, and device preferences. This
data is then analyzed to gain insights into user behavior, content preferences, and viewing patterns. By utilizing this information
effectively, Netflix has been able to create a highly personalized and targeted user experience, ultimately leading to increased customer
satisfaction and retention.
One notable example of Netflix's data analytics strategy in action is its content recommendation system. By analyzing user data, Netflix
can suggest relevant movies and TV shows to individual users based on their viewing history and preferences. This personalized
recommendation engine has played a significant role in attracting and retaining subscribers, as it helps users discover content they are
likely to enjoy.
Furthermore, Netflix uses data analytics to make data-driven decisions in various areas of its business. For instance, the company
leverages data to optimize its content acquisition strategy, identifying trends and patterns in viewer preferences to guide its content
investments. This approach has allowed Netflix to produce successful original content, such as "Stranger Things" and "The Crown," by
analyzing audience demand and tailoring their content offerings accordingly.
Overall, Netflix's data analytics strategy has enabled the company to understand its users better, improve its content selection, enhance
the user experience, and ultimately drive business growth.
3
Success stories of companies using Data Analytics
Amazon's ability to leverage data analytics effectively has played a crucial role in maintaining
its competitive edge in the ever-evolving e-commerce and technology landscape
Amazon is a multinational technology company that started as an online marketplace and has since expanded into various industries,
including e-commerce, cloud computing, digital streaming, and artificial intelligence.
Amazon has leveraged data analytics extensively to understand customer behavior, optimize operations, and drive business growth.
One notable example is their use of data analytics in their recommendation engine. By analyzing customer browsing and purchase
history, Amazon can provide personalized product recommendations to its users. This approach has significantly contributed to their
success in cross-selling and upselling, as well as enhancing customer satisfaction.
Additionally, Amazon utilizes data analytics in inventory management and supply chain optimization. Through the analysis of data on
historical sales, customer demand patterns, and supplier performance, Amazon can forecast future demand accurately. This enables
them to optimize their inventory levels, reduce warehousing costs, and ensure efficient order fulfillment.
Another area where Amazon excels in data analytics is pricing optimization. The company analyzes vast amounts of data, including
competitor prices, customer preferences, and historical sales, to dynamically adjust prices for its products. This allows Amazon to remain
competitive in the market, maximize revenue, and capture demand in real-time.
Furthermore, Amazon employs data analytics in fraud detection and prevention. By analyzing customer behavior patterns, transactional
data, and machine learning algorithms, Amazon can identify and mitigate fraudulent activities such as unauthorized account access,
fake reviews, and suspicious transactions. This helps protect both customers and the integrity of the platform.
Overall, Amazon's data analytics strategy has been instrumental in its success as a technology giant. By harnessing the power of data,
the company continuously improves customer experiences, optimizes operations, and drives innovation.
4
Content of the Data Analytics Strategy Toolkit
Best Practices Frameworks
Advice from
tier-1
Tools
Management What’s
Consultants
inside our
Toolkit?
Real-life Templates
Examples
Video Training
Step-by-step
Tutorials
5
Objectives of the Toolkit
The Data Analytics Strategy Toolkit includes frameworks, tools, templates, tutorials, real-life
examples, best practices and video training to help you:
• Define and implement your Data Analytics Strategy: (1) Summary of the Corporate & Business Strategy, (2) Current & Target Data Analytics
Maturity Levels, (3) Data Analytics Vision, Mission & Values, (4) Strategic Objectives and KPIs to reach our Vision, (5) Team & Budget, (6) Stakeholder
Management
• Design your Data Management & Infrastructure: (1) Data sources and acquisition, (2) Data storage and processing solutions, (3) Data integration,
transformation & ETL Processes, (4) Data quality & cleansing, (5) Data infrastructure scalability & performance, (6) Emerging technologies in data
management and infrastructure , (7) Successful implementations
• Design your Data Governance & Compliance: (1) How data governance enables an organization to become data-driven?, (2) Data governance
framework, (3) Data privacy and security, (4) Data compliance management, (5) Data ethics and responsible use, (6) Implementing data governance
and compliance, (7) Emerging trends and innovations , (8) Charter template
• Select the right Data Analytics Tools and Techniques: (1) Data visualization tools and techniques, (2) Statistical analysis tools and techniques, (3)
Machine learning tools and techniques, (4) Big data tools and techniques, (5) Data preparation tools and techniques, (6) Analytics tools selection matrix
• Build a Data-driven Organization: (1) Characteristics of a data-driven organization, (2) Building a data-driven culture, (3) Developing data skills and
capabilities, (4) Creating a user-friendly data infrastructure, (5) Fostering experimentation and innovation, (6) Case study
• Identify relevant Use Cases with 60+ examples of use cases across different industries and functions
• List your Potential Initiatives
• Create your Business Cases and Financial Models to assess your list of potential Initiatives
• Prioritize, plan and implement your projects: (1) Project Prioritization, (2) Business Roadmap, (3) Governance, (4) Dashboards, (5) Project
implementation (Agile methodology, Design Thinking and Traditional methodology), (6) Post projects evaluation and lessons learnt, (7) Post data
analytics strategy evaluation and lessons learnt
• Manage change: (1) Change Management Strategy, (2) Change Management Plans, (3) Implementation, tracking and progress management
• Build a success story such as Netflix who positioned itself as a leader in the streaming industry by leveraging data-driven insights.
6
Data Analytics Strategy Toolkit - Approach
This Toolkit includes a robust approach that we have built and refined over the past 20 years through constant trial and error. The
good news is that you don’t have to waste your time and money going through that lengthy trial-and-error process. You can simply
leverage our work and customize it based on the specificities of your organization.

Team & Budget


Change Management
7
Introduction to data analytics
Data analytics is the process of examining, cleaning, transforming, and modeling raw data to extract useful information, draw conclusions,
and support decision-making. It involves the application of various techniques, tools, and methodologies to uncover patterns, trends,
correlations, and insights hidden within data sets.
Data analytics can provide numerous benefits to organizations across various industries. Some of the key benefits of data analytics are
as follows:
Improved decision Increased efficiency and Enhanced customer Improved financial

Better risk management
making productivity experience performance
Data analytics provides Data analytics can help By analyzing customer data, Data analytics can help Data analytics can help
organizations with insights organizations identify organizations can gain organizations identify organizations improve their
that can help them make inefficiencies and streamline insights into customer potential risks and threats. financial performance by
better decisions. By processes. By analyzing behavior and preferences, By analyzing data, identifying areas where they
analyzing large amounts of data, organizations can which can then be used to organizations can identify can reduce costs and
data, organizations can identify areas that can be improve customer patterns and trends that increase revenue. By
identify patterns and trends, optimized to increase experience. This can help may indicate potential risks, analyzing data,
which can then be used to productivity and efficiency. organizations to tailor their allowing them to take organizations can identify
inform business strategies products and services to proactive measures to trends and patterns that can
and decision-making meet the specific needs and mitigate those risks. help them make more
processes. preferences of their informed financial decisions.
customers.
8
Types of data analytics
There are four main types of analytics that organizations use to gain insights from their data, make informed decisions, and optimize
processes. Each type serves a different purpose and answers specific questions about the data. Each type represents an increasing level
of sophistication in the organization's ability to use data for analytics.
1.Descriptive analytics 2.Diagnostic analytics 3.Predictive analytics 4.Prescriptive analytics
What happened? Why did it happen? What will happen? How can we make it happen?
Hindsight Insight Foresight
9
Details, tools and techniques
Descriptive analytics Diagnostic analytics Predictive analytics Prescriptive analytics
Descriptive analytics focuses on Diagnostic analytics aims to identify Predictive analytics uses historical Prescriptive analytics focuses on
analyzing historical data to the causes of past events by data, statistical models, and recommending the best course of
understand past events, patterns, examining the data for correlations, machine learning techniques to action based on various scenarios
and trends. It helps organizations dependencies, and anomalies. It forecast future outcomes and trends. and potential outcomes. It helps
answer the question, "What helps organizations answer the It helps organizations answer the organizations answer the question,
happened?“ question, "Why did it happen?“ question, "What is likely to happen in "What should we do about it?“
the future?“
Tools and techniques: Tools and techniques: Tools and techniques:
Tools and techniques:
• Microsoft Excel for data analysis • Statistical charts to identify trends • Optimization software to identify
and visualization and patterns in data • Machine learning algorithms for the optimal solution to a problem
• Tableau or Power BI for data • Data mining tools to identify predictive modeling e.g. pricing strategy
visualization and dashboards correlations and data relationships • Advanced statistical techniques, • Simulation modeling for testing
• Basic data cleaning techniques, • Regression analysis to identify the such as time-series analysis and different scenarios and outcomes
such as removing duplicates and relationship between variables decision trees • Machine learning algorithms for
handling missing data • Analyzing data to identify the root • Data mining tools for identifying automated decision-making
• Basic statistical measures, such cause of a problem or issue patterns and relationships in data • Big data platforms for handling
as mean, median, mode, and • Using correlation analysis to • Using time-series analysis to large volumes of data
standard deviation identify relationships between identify trends and patterns • Building a simulation model to test
• Creating bar charts and line variables • Building a predictive model to the impact of different marketing
graphs to display trends in data forecast sales or customer strategies
behavior
10
Use cases
Descriptive analytics Diagnostic analytics Predictive analytics Prescriptive analytics
The sales team can learn which The sales team can identify The sales team can learn the How the sales team can improve
customer segments generated shared characteristics and revenue potential of a particular the sales process for each target
the highest dollar amount in sales behaviors of profitable customer customer segment. vertical.
last year. segments.
Sales
The marketing team can The marketing team can look at The marketing team can predict Helping the marketing
uncover which social media high-performing social media ads how much revenue they’re likely team determine what product to
platforms delivered the best compared to poor ones to identify to generate with an upcoming promote next quarter.
return on advertising investment the reasons for differences. campaign.
Marketing last quarter.
The finance team can track The finance team can compare The finance team can create Ways the finance team can
month-over-month and year- the timing of key initiatives to m- more accurate projections for the optimize risk management.
over-year revenue growth or o-m and y-o-y revenue growth or next fiscal year.
decline. decline to help determine
Finance correlations.
Operations can track demand Operations can look at regional The operations team can better Help the operations
for SKUs across geographic weather patterns to see if they’re predict demand for various team determine how to optimize
locations throughout the past contributing to demand for products in different regions at warehousing.
year. particular SKUs across specific points in the upcoming
Operations geographic locations. year.
11
Data analytics lifecycle
6. Visualization and presentation 1. Business issue understanding

The final step involves interpreting the results,
creating visualizations, and presenting the 01 This step involves identifying the business
problem, setting objectives, and determining
findings to stakeholders in a clear and concise Business Issue how data analytics can help address the issue.
Visualization &
manner. Effective communication is critical to
ensure that the insights derived from data
06 Presentation Understanding It is essential to involve key stakeholders and
align the analytics project with the organization's
analytics are understood and used to drive goals and priorities.
informed decision-making.
5. Data validation
In this step, the models' performance is
Data
02 2. Data collection
This step includes identifying relevant
evaluated using various evaluation Data data sources, gathering data from
metrics and validation techniques. This Validation Analytics Data various sources (internal and external),
may involve validation methods to ensure Collection and assessing data quality and
the model's accuracy and reliability. The Lifecycle completeness. It is crucial to ensure that
process may require several iterations to
refine the model and achieve the desired
05 the collected data is appropriate for
addressing the business issue at hand.
level of performance.
4. Exploratory analysis and modeling Exploratory 3. Data preparation

This step combines data exploration, where
analysts explore the data to understand its
Analysis and
Data
Preparation 03 Data preparation involves cleaning, transforming,
and integrating data to make it suitable for
Modeling
structure, relationships, patterns, and trends, with analysis. This step ensures that the data is
the development of statistical or machine learning
models to test hypotheses, make predictions, or 04 consistent, complete, and accurate before
moving on to the analysis phase.
uncover hidden patterns.
12
In the next slides, you’ll see a small preview of the Toolkit

Team & Budget


Change Management
13
Table of contents

Team & Budget


Change Management
14
Data Analytics function
Strategic objectives, KPIs and targets
Strategic Objectives Key Performance Indicators (KPIs) Targets
Insert the KPI related to your strategic Insert the target related to your
Insert your own strategic objective
objective KPI
objective KPI
objective KPI
objective KPI
objective KPI
15
Real-life example

Strategic objectives, KPIs and targets
Data Availability rate 98%

Enhance Data Infrastructure
Data Accessibility in minutes Within 1 hour of request
Adoption rate of data insights, measured by

Increase Adoption rate of data insights the number of stakeholders utilizing provided From 30% to 50%
insights in decision-making processes.
Increase forecast model accuracy Forecast model accuracy rate Increase by 20%
Customer Satisfaction Score (CSAT)

Increase customer satisfaction measured based on feedback surveys or Increase by 10%
ratings
Number of cross-functional Projects and

Foster Cross-Functional Collaboration Partnerships initiated and completed within a 5
specific timeframe
16
Real-life example

Strategic objectives, KPIs and targets Meeting target or above target Slightly below target Significantly below target
or on track
Data Availability rate 98%

Enhance Data Infrastructure
Data Accessibility in minutes Within 1 hour of request
Adoption rate of data insights, measured by

Increase Adoption rate of data insights the number of stakeholders utilizing provided From 30% to 50%
insights in decision-making processes.
Increase forecast model accuracy Forecast model accuracy rate Increase by 20%
Customer Satisfaction Score (CSAT)

Increase customer satisfaction measured based on feedback surveys or Increase by 10%
ratings
Number of cross-functional Projects and

Foster Cross-Functional Collaboration Partnerships initiated and completed within a 5
specific timeframe
17
The achievement of the data analytics strategic objectives will positively impact multiple
corporate and business strategic objectives Positively impacted by the data analytics strategic objectives
Perspective Corporate and Business Strategic objectives

Insert your own
Insert your own text Insert your own
text text
Financial
Insert your own Insert your own Insert your own Insert your own
text text text text
Insert your own Insert your own Insert your own

Customer text text text
Insert your own Insert your own Insert your own Insert your own
Internal Process text text text text
Learning Insert your own Insert your own Insert your own
Insert your own text
& Growth text text text
18
Real-life example
The achievement of the data analytics strategic objectives will positively impact multiple
corporate and business strategic objectives Positively impacted by the data analytics strategic objectives
Perspective Strategic objectives
Increase Increase profit

Decrease Costs
Financial revenue
Increase number Increase revenue Decrease fixed Decrease

of customers per customer cost variable cost
Increase
Customer customer
Become a
trusted brand
Sell new
products
satisfaction
Understand
Internal Process customer
Shift to digital
channel
Decrease
delivery time
Create new
products
segments
Learning Improve Improve Create a

Align the
employee customer customer-
& Growth satisfaction information focused culture
organization
19
Table of Contents

Team & Budget


Change Management
20
Data integration, transformation & ETL Processes
Integration, Transformation, and ETL Processes are essential components of an organization's data analytics strategy, as they enable the organization to collect,
combine, and prepare data from various sources for analysis. These processes ensure that the data is accurate, consistent, and compatible with the analytics
tools and systems being used.
ETL Processes
Data Transformation
Data Integration
ETL (Extract, Transform, Load) is a set
Data transformation involves converting
Data integration is the process of of processes used to extract data from
data from its original format into a format
combining data from different sources source systems, transform it into the
suitable for analysis. This process may
into a unified, consistent, and accessible desired format, and load it into a target
include various operations, such as data
format. This process is crucial when system, such as a data warehouse or a
cleansing, normalization, aggregation,
working with data from various systems, data lake. ETL processes play a crucial
and enrichment. Data transformation
databases, and applications, as it role in data integration and
ensures that the data is accurate,
ensures that the data is easily transformation, as they automate and
consistent, and structured in a way that
accessible and compatible with analytics streamline the movement and
supports effective analytics.
tools. preparation of data for analysis.
By implementing effective integration, transformation, and ETL processes, organizations can ensure that their data is accurate, consistent, and compatible with
their data analytics tools and systems, enabling them to make informed decisions based on reliable and up-to-date information.
21
Data integration strategies and techniques
Data integration strategies and techniques refer to the methods organizations use to combine and consolidate data from various sources into a unified and
consistent format. These strategies and techniques are crucial for ensuring that data is accurate, compatible, and accessible for analytics purposes. Some
commonly used data integration strategies and techniques include:
1 Data Consolidation: This strategy involves physically bringing 2 Data Federation: Data federation is a virtual data integration
together data from multiple sources into a single, central repository, technique that enables users to access and view data from multiple
such as a data warehouse or data lake. Data consolidation often sources through a single interface, without physically consolidating the
requires data transformation to ensure consistency and compatibility data. This approach uses a middleware layer that translates and
across different data sources. combines data from different sources in real-time, presenting it as if it
were coming from a single source.
3 Data Replication: This technique involves creating and maintaining 4 Data Propagation: In data propagation, changes in the data from one
copies of data from different sources in a central repository. Data
source are automatically propagated to other related data sources.
replication can be useful for ensuring data availability, reducing query
This technique helps maintain data consistency across multiple
response times, and providing data redundancy for disaster recovery
systems, ensuring that all data sources are up-to-date and in sync.
purposes.
5 Data Virtualization: Data virtualization is an advanced data 6 Master Data Management (MDM): MDM is a strategy that focuses on
integration technique that abstracts, transforms, and combines data managing the core data entities of an organization, such as customers,
from multiple sources into a unified, virtual data layer. This approach products, or suppliers. MDM ensures that these entities have a single,
allows users to access and analyze data without moving or copying it, consistent, and accurate representation across all systems, reducing
providing a flexible and efficient solution for data integration. data redundancy and improving data quality.
When selecting a data integration strategy or technique, organizations should consider factors such as data volume, data complexity, data latency requirements, and existing
data infrastructure. The chosen approach should support the organization's data analytics objectives while ensuring data accuracy, consistency, and accessibility.
22
Data transformation methods and tools
Data cleansing involves identifying and correcting Microsoft Power Query, DataWrangler, and Talend can help
with data cleansing tasks, such as removing duplicate
Data cleansing errors, inconsistencies, and inaccuracies in the records, filling in missing values, correcting data entry
data. errors, and validating data against predefined rules.
Data normalization is the process of organizing data Talend and KNIME can be used for creating tables, defining
Data normalization in a consistent and structured way to minimize relationships, and enforcing data constraints in the
redundancy and improve data integrity. normalization process.
Data aggregation is the process of summarizing Alteryx, KNIME, and Microsoft Power Query can assist in
Tools
Data aggregation or grouping data to create higher-level performing calculations such as sums, averages, counts, or
representations. other statistical measures to derive insights from the data.
Data enrichment involves enhancing or augmenting Talend, KNIME, and Alteryx can help improve data quality,
Data enrichment existing data with additional information from provide more context, and enable more in-depth analysis by
external sources. integrating external data sources.
Data encoding involves converting data into a

Apache NiFi, Talend, and Microsoft Power Query can be
different format, such as converting categorical
Data encoding used for data encoding to make data more compatible with
data into numerical values or transforming text data analytics tools and algorithms.
into numerical vectors.
23
ETL process and tools
The ETL (Extract, Transform, Load) process is a crucial component of data integration and transformation. It involves extracting data from multiple sources,
transforming it into a compatible format, and loading it into a target system, such as a data warehouse or a data lake. ETL tools help streamline and automate
these tasks, ensuring data consistency and accuracy throughout the process. Here is an overview of the ETL process and some popular tools:
Extract: The extraction step involves collecting data from various

sources, such as databases, files, APIs, or web services. The Database
goal is to retrieve relevant data while maintaining its original
structure and format.
Data mining
Transform: In the transformation step, the extracted data is Files Extract Load
cleaned, standardized, and transformed into a format suitable for
analysis. This can involve data cleansing, normalization,
aggregation, enrichment, and encoding, as previously discussed. Data Visualization
Transform
Warehouse
API
Load: The final step involves loading the transformed data into a
target system, such as a data warehouse, data lake, or a
business intelligence tool. The loading process ensures that the
Data analysis
data is stored and organized efficiently for quick retrieval and
analysis. Web services
24
Table of Contents

Team & Budget


Change Management
25
Data ethics and responsible use
Data ethics and responsible use involve ensuring that an organization's data practices are not only compliant with laws and regulations but also adhere to ethical
principles and values. This is important for building trust with customers, employees, and other stakeholders, and for preventing unintended negative
consequences associated with data analytics and decision-making.
1. Privacy and data protection and establishing mechanisms for redress in case of harm or adverse effects.
Respect individuals' privacy rights by collecting, processing, and storing
personal data in accordance with applicable laws and regulations, as well as 5. Beneficence and non-maleficence
established best practices. Obtain informed consent when necessary and Ensure that data analytics processes contribute positively to society and do
adhere to the principles of data minimization and purpose limitation. not cause harm or disadvantage to individuals or groups. Consider the
potential short- and long-term impacts of data-driven decisions on
2. Transparency stakeholders and the broader community and strive to maximize benefits
Be transparent about data collection, processing, and analytics while minimizing harm.
methodologies, and provide clear explanations for data-driven decisions.
This helps build trust with stakeholders and enables them to understand and 6. Data quality and integrity
potentially challenge the outcomes of data analytics processes. Maintain the quality and integrity of the data being collected, processed, and
analyzed to ensure that the insights derived from data analytics are accurate,
3. Fairness reliable, and trustworthy. Implement data validation, cleaning, and
Avoid introducing or perpetuating biases and discrimination in data analytics enrichment processes, and be transparent about any limitations or
processes. This includes using diverse and representative datasets, uncertainties associated with the data.
implementing fairness-aware machine learning algorithms, and regularly
auditing the outcomes of data-driven decisions for signs of bias or 7. Informed decision-making and human oversight
unintended consequences. Ensure that data-driven decisions are informed by human judgment and
expertise, and that there is adequate human oversight over automated
4. Accountability processes. This helps prevent over-reliance on algorithms and can provide a
Ensure that organizations and individuals involved in data analytics safeguard against potential biases, errors, or unintended consequences.
processes are accountable for their actions and decisions. This includes
setting clear roles and responsibilities, maintaining thorough documentation,
26
Fairness, accountability, and transparency in data use
Ensuring fairness, accountability, and transparency in data use is crucial for building trust with stakeholders, avoiding potential harm, and promoting responsible
data-driven decision-making. Each of these principles has a unique role in the ethical use of data.
Fairness Accountability Transparency
To achieve fairness, consider the following aspects: To establish accountability, consider the following . To promote transparency, consider the following
aspects: aspects:
• Diverse and representative datasets: Ensure
that the data being used is representative of the • Clear roles and responsibilities: Define and • Open communication: Clearly communicate the
population of interest and includes information communicate the roles and responsibilities of all methods and techniques used for data collection,
from various sources and perspectives. stakeholders involved in data analytics processes, processing, and analysis, as well as any
including data owners, data stewards, and data assumptions or limitations associated with the
• Fairness-aware algorithms: Implement machine
custodians. data.
learning algorithms that are designed to minimize
biases and ensure fair treatment of different • Documentation and record-keeping: Maintain • Explainability: Provide clear and understandable
groups or individuals. thorough documentation of data collection, explanations for data-driven decisions, including
processing, and analysis methodologies, as well the factors that influenced the decision and the
• Regular auditing: Continuously monitor and audit
as any decisions made based on data-driven potential implications for affected stakeholders.
the outcomes of data-driven decisions to identify
insights. • Access to information: Ensure that stakeholders
and address any signs of bias or unfair treatment.
• Mechanisms for redress: Establish procedures have access to relevant information about data
and mechanisms for addressing any harm or analytics processes and outcomes, while still
adverse effects caused by data-driven decisions, respecting privacy and confidentiality
including avenues for affected parties to raise requirements.
concerns or seek remedies.
27
UK Government’s data ethics framework for public sector - Overview
What is it for? The Data Ethics Framework provided by the UK government is a set of guidelines
designed to help public sector organizations make ethical decisions in their use of data.
The Data Ethics Framework guides appropriate and responsible data use They are intrinsically connected to the five specific actions, which are designed to
in government and the wider public sector. It helps public servants provide practical considerations at different project stages.
understand ethical considerations, address these within their projects, and
encourages responsible innovation. • Define and understand public benefit and user need: To achieve transparency,
clearly communicate the project's objectives and benefits to the public and intended
users. Ensure that the project addresses their needs fairly and equitably.
Who is it for?
• Involve diverse expertise: To ensure fairness and accountability, engage experts
This guidance is aimed at anyone working directly or indirectly with data in the from various backgrounds and disciplines to minimize potential biases and blind
public sector, including data practitioners (statisticians, analysts and data spots. Diverse perspectives can help teams better identify and address ethical
scientists), policymakers, operational staff and those helping produce data- concerns.
informed insight.
• Comply with the law: Legal compliance is crucial to maintaining transparency and
How to use it? accountability. Adhering to the relevant legislation and codes of practice
demonstrates a commitment to upholding ethical standards and protecting user
Teams should work through the framework together throughout the process of rights.
planning, implementing, and evaluating a new project. Each part of the
framework is designed to be regularly revisited throughout your project, • Review the quality and limitations of the data: To ensure transparency, openly
especially when any changes are made to your data collection, storage, analysis communicate the data's strengths and weaknesses. Understanding its limitations
or sharing processes. helps maintain fairness by avoiding biased or inaccurate insights that could lead to
unintended consequences.
Structure
• Evaluate and consider wider policy implications: Account for the broader impacts
The framework is split into overarching principles and specific actions. of the project on society and different stakeholder groups. This assessment helps
Overarching principles are applicable throughout the entire process and maintain fairness and transparency by considering potential ethical risks and aligning
underpin all actions and all aspects of the project. Specific actions will guide you the project with broader organizational values and policies.
through different stages of the project and provide practical considerations.
28
UK Government’s data ethics framework for public sector - Structure1
Data ethics framework
0 1 2 3 4 5
Information about the project, its methods and Information about the project, its methods
Transparency
outcomes is not publicaly available and outcomes is widely available to public
Overarching
principles
Mechanisms for security, governance or peer review Long-term oversight and public security
Accountability
for the project haven’t been established mechanisms are built into the project cycle
The project promotes just and equitable
There is a significant risk that the project will result in
Fairness outcomes, has negligible detrimental effects,
harm or detrimental and discriminatory effects for the
and is aligned with human rights
public or certain groups
considerations
Define and understand public
Public benefit and user need are not clearly defined Public benefit and user need are well defined
benefits and user needs
or understood and understood by all team members
The project team is homogenous and there is little The project team is diverse, multidisciplinary,
Involve diverse expertise
expert input with expert input
Specific
actions
Relevant legal requirements have been met,

There is little clarity on legal requirements for the
Comply with the law compulsory assessments completed, legal
project
experts have been consulted
Data in the project is representative,
Review the quality and limitation Data for the project is of bad quality, unsuitable,
proportionally used, accurate and of good
of the data unreliable, not representative
quality
Evaluate and consider wider
There is no long-term evaluation and maintenance Continuous evaluation and long-term
policy implication
structure in pace maintenance structure are in place
1. https://www.gov.uk/government/publications/data-ethics-framework
29
Table of Contents

Team & Budget


Change Management
30
Analytics tools selection matrix
Powerpoint format
Criteria Weight Tool A Tool B Tool C

Ease of use 0.15 4 5 3 Instructions:
Scalability 0.10 5 4 3 1. List the tools and platforms you're considering for your
Integration capability 0.15 3 4 5 organization (Tool A, Tool B, etc.).
Cost 0.20 4 3 5 2. Define the evaluation criteria that are most important
to your organization's needs.
Support & Community 0.10 5 4 3
3. Assign a weight to each criterion based on its
Flexibility & Extensibility 0.10 4 5 3 importance to your organization.
Visualization capabilities 0.10 5 4 3 4. Rate each tool on a scale of 1-5 (1 being the lowest
and 5 being the highest) for each criterion.
Data processing power 0.05 4 3 5
5. Calculate the weighted average score for each tool.
Security & Compliance 0.05 5 4 3
Weighted Average Score Calculation:
Tool A: (4 * 0.15) + (5 * 0.10) + (3 * 0.15) + (4 * 0.20) + (5 * 0.10) + (4 * 0.10) + (5 * 0.10) + (4 * 0.05) + (5 * 0.05) = 4.25
Tool B: (5 * 0.15) + (4 * 0.10) + (4 * 0.15) + (3 * 0.20) + (4 * 0.10) + (5 * 0.10) + (4 * 0.10) + (3 * 0.05) + (4 * 0.05) = 4.05
Tool C: (3 * 0.15) + (3 * 0.10) + (5 * 0.15) + (5 * 0.20) + (3 * 0.10) + (3 * 0.10) + (3 * 0.10) + (5 * 0.05) + (3 * 0.05) = 3.70
Conclusion:
Based on the weighted average scores, Tool A is the best option for the organization with a score of 4.25.
31
Analytics tools selection matrix
Excel format including in the folder 04 of the Toolkit
32
Table of contents

Team & Budget


Change Management
33
Data analytics use cases in the healthcare industry (1/7)
1. Electronic Health records (EHR) analysis 2. Patient segmentation
• Problem/Issue: Fragmented and unstructured patient data, lack of • Problem/Issue: Inefficient resource allocation, one-size-fits-all treatment
insights into patient care, and inefficient healthcare workflows. plans, and suboptimal patient care.
• Outcome: Identification of patterns and trends in patient data, improved • Outcome: Grouping patients based on specific characteristics or
patient care, and streamlined workflows. conditions for targeted interventions and personalized care.
• Data analytics techniques: Data preprocessing and cleaning, natural • Data analytics techniques: Clustering algorithms to group similar
language processing (NLP) to extract information from unstructured data, patients, classification techniques for categorizing patients based on risk
clustering to identify patterns, and classification and regression algorithms or condition, decision trees to identify important factors in segmentation,
to predict patient outcomes and risk factors. and ensemble learning to combine multiple models for improved
• Benefit to organization: predictions.
 Enhanced patient outcomes: By analyzing EHR data, healthcare • Benefit to organization:

providers can uncover patterns and trends that inform better  Improved patient outcomes: Patient segmentation allows for the
treatment decisions, leading to improved patient health development of tailored treatment plans, which can lead to better
 Reduced operational inefficiencies: Analyzing EHR data can health outcomes for individual patients.
help organizations identify bottlenecks, redundancies, and areas  Efficient resource allocation: By focusing on high-priority patient
for improvement, ultimately reducing costs and saving time. groups, healthcare organizations can allocate resources more
 Improved collaboration: Consolidated and accessible EHR data effectively, reducing waste and improving overall efficiency.
enables medical professionals to more effectively collaborate on  Informed healthcare planning: A better understanding of patient
patient care, ensuring seamless transitions between providers and populations allows healthcare organizations to plan and allocate
reducing the risk of errors. resources more effectively, improving overall healthcare delivery.
34
Table of contents

Team & Budget


Change Management
35
List of Potential Initiatives
36
Table of contents

Team & Budget


Change Management
37
Lean Business Case
Project name:
Project description:
Strategic Yes No
Net Present Value Alignment
$16.3M
Ease of
Value
Low Medium High implementation Difficult Intermediate Easy
Project Sponsor Project Manager Change Manager

John Doe John Doe John Doe
38
Project financial model screenshot
39
Table of contents

Team & Budget


Change Management
40
A more detailed version of our Business roadmap is in the excel document
“Business Roadmap”
41
Structure of the Toolkit
The Data Analytics Strategy Toolkit includes 500 Powerpoint slides, 20 Excel sheets and 40 minutes of Video
training organized in multiple folders that you can download on your device immediately after your purchase.
500 editable Powerpoint slides*
30 Excel sheets*
40 minutes of Video
training
*Please note that the number of PowerPoint slides and Excel sheets listed is the number of unique slides and sheets. For example, a PowerPoint slide
that has been duplicated to facilitate our clients’ understanding only counts for one slide.
42
Key Benefits of our Management Consulting Toolkits
Improve the growth & efficiency Make a great investment for your Get a competitive advantage. It’s
of your organization by leveraging career & organization. It cost us like hiring Management Consultants
Management Consulting Toolkits US$8M+ over the past 10 years to to create all the practical
created by ex-McKinsey, Deloitte & create all our Toolkits. Get them for Frameworks, Tools & Templates you
BCG Consultants. a fraction of this cost. need.
Get the job done quicker and Don't reinvent the wheel. We have
Improve the capabilities of your
never start from scratch again with already worked 30,000+ hours over
organization by learning how the
our ready-made and fully editable the past 10 years to create all the
Fortune 100 and Global Consulting
Frameworks, Tools & Templates in Management Consulting Toolkits
Firms do it.
Powerpoint & Excel. you need.
Become your organization’s

Decrease your costs. Hiring tier-1
Get free support and advice from subject matter expert and impress
Consultants for a project would cost
our ex-McKinsey, Deloitte & BCG your stakeholders with world-class
you $300k+. Way more expensive
Management Consultants. approaches to resolve common
than our Toolkits, which will last you
business problems.
a lifetime!
43
What our clients say about our Toolkits
Reviews imported from Facebooks, Amazon and Klaviyo
See more reviews >
44
Join the 200,000+ Executives, Consultants & Entrepreneurs already leveraging our
Business & Consulting Toolkits to improve the performance of their organization and
boost their own career.
Trusted by small and large organizations Customer satisfaction
4.8
Number of countries leveraging our Business & Consulting Toolkits Number of professionals
leveraging our Business &
160+ Consulting Toolkits
200,000+
Daily rate of our ex-McKinsey,

Deloitte and BCG Management
Consultants
$3k-$4k
45
Interested in more than 1 Toolkit?
Access all our Toolkits for half the price with our Gold Access
Gold Access
Click here to learn more
46
Need additional help on top of our Management Consulting Toolkits?
Send us a brief and we’ll find you the right talent from our network of 500 tier-1 Management
Consultants (the average daily rate is $3k)
Click here to send us a Project Brief

Thank you for your attention.
www.domontconsulting.com
48

Data Analytics Strategy Toolkit - Overview and Approach

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Data Analytics Strategy Toolkit - Overview and Approach

Uploaded by

Copyright:

Available Formats

Data Analytics Strategy

5 Pillars to reach our Strategic Objectives

Data Management & Data Governance & Analytics Tools &

List of Potential Initiatives for each Pillar

• This Toolkit was created by ex-McKinsey, Deloitte and BCG Management

Best Practices Frameworks

Data Analytics Strategy

5 Pillars to reach our Strategic Objectives

Data Management & Data Governance & Analytics Tools &

List of Potential Initiatives for each Pillar

Improved decision Increased efficiency and Enhanced customer Improved financial

1.Descriptive analytics 2.Diagnostic analytics 3.Predictive analytics 4.Prescriptive analytics

Hindsight Insight Foresight

Descriptive analytics Diagnostic analytics Predictive analytics Prescriptive analytics

Descriptive analytics Diagnostic analytics Predictive analytics Prescriptive analytics

6. Visualization and presentation 1. Business issue understanding

4. Exploratory analysis and modeling Exploratory 3. Data preparation

Data Analytics Strategy

5 Pillars to reach our Strategic Objectives

Data Management & Data Governance & Analytics Tools &

List of Potential Initiatives for each Pillar

Data Analytics Strategy

5 Pillars to reach our Strategic Objectives

Data Management & Data Governance & Analytics Tools &

List of Potential Initiatives for each Pillar

Strategic Objectives Key Performance Indicators (KPIs) Targets

Data Analytics function

Strategic Objectives Key Performance Indicators (KPIs) Targets

Data Availability rate 98%

Adoption rate of data insights, measured by

Customer Satisfaction Score (CSAT)

Number of cross-functional Projects and

Data Analytics function

Strategic Objectives Key Performance Indicators (KPIs) Targets

Data Availability rate 98%

Adoption rate of data insights, measured by

Customer Satisfaction Score (CSAT)

Number of cross-functional Projects and

Perspective Corporate and Business Strategic objectives

Insert your own Insert your own Insert your own

Perspective Strategic objectives

Increase Increase profit

Increase number Increase revenue Decrease fixed Decrease

Learning Improve Improve Create a

Data Analytics Strategy

5 Pillars to reach our Strategic Objectives

Data Management & Data Governance & Analytics Tools &

List of Potential Initiatives for each Pillar

Data encoding involves converting data into a

Extract: The extraction step involves collecting data from various

Data Analytics Strategy

5 Pillars to reach our Strategic Objectives

Data Management & Data Governance & Analytics Tools &

List of Potential Initiatives for each Pillar

Fairness Accountability Transparency

Data ethics framework

Relevant legal requirements have been met,

Data Analytics Strategy

5 Pillars to reach our Strategic Objectives

Data Management & Data Governance & Analytics Tools &

List of Potential Initiatives for each Pillar

Criteria Weight Tool A Tool B Tool C