Unlocking the Potential of Big Data and Predictive Analytics Andrew Hannah CEO, Othot Adjunct Professor, Business Analytics Entrepreneur in Residence
Meet the Presenter Andrew Hannah CEO, Othot Adjunct Professor, Business Analytics Entrepreneur in Residence
The Progression of Map Technology
Value Machine Learning is Enabling How can we make it happen? What will happen? Prescriptive Analytics Why did it happen? Predictive Analytics What happened? Descriptive Analytics Diagnostic Analytics Hindsight Insight Difficulty Foresight
Availability of rich data sources Why the Opportunity is Now Maturity of tools Proven success with advanced analytics
Data collected in 60 seconds The Power of Analytics
Every two days, humans produce the same amount of data that they created cumulatively from the beginning of time to 2003. Source: Miller & Chaplin 2013
Artificial Intelligence Sensing an environment Optimize a desired result Machine Learning The heart of the AI The algorithms that deliver outcomes Change when new info is learned Predictive and Prescriptive Analytics Predict a likely outcome Provide options to change the outcome
Analytics Overview Customer Relationship Mgmt Marketing campaigns Sales Customer services Clinical Decision Support Condition development risk Point of care decisioning Program and physician effectiveness Collections Optimize collection resources Establish contact strategies Coordinate collection activities Cross selling Increase profitability per customer Sell the right product at the right time Strengthen customer relationship Customer Retention Reduce customer attrition Predict termination likelihood Predict silent attrition Direct Marketing Identifying potential prospects Monetize product combinations Determine marketing channels Fraud Detection Reduce fraud exposure Identify fraud over periods of time Improve related business processes Underwriting Determine pricing and charges Predict loan repay potential Streamline customer acquisition Workforce Management Predict vulnerabilities in workforce Predict skill loss through turnover Optimize resource planning
Success Stories
Forrester 2017 Tech Radar: Artificial Intelligence Technologies Now is the time to adopt AI and Machine Learning Strategies
Advanced Analytics result in competitive advantage Top performing companies are analytic competitors and outpace others in 25 key performance metrics 87% 89% of organizations surveyed believe big data analytics will redefine the competitive landscape of their industries within the next three years also believe that failure to adopt a big data analytics strategy could cause an organization to lose both market share and momentum.* *Source: ACCENTURE & GENERAL ELECTRIC STUDY, 2014
Advanced Analytics Is Driving Revenue & Profit Growth Market leaders are adopting predictive and prescriptive analytics to: Increase revenue by gaining more customers Increase margins through price optimization Increase the number of high long-term value customers
Advanced Analytics Is Driving Revenue & Profit Growth Machine learning enables organizations to see customers like never before Customers Margin Long-term Value Focus on high probability buyers Price optimization increases likelihood to buy Focus on the customers with the highest likelihood to churn
High Impact Questions are the Tree What is the likelihood that the ultimate objective will occur? What is the likelihood that a prospect will buy? Insights are the Fruit How to prioritize resources? What marketing programs are most impactful? How much do you discount?
Data Nirvana A little data goes a long way Using Data and Being Insights- Driven is a Long- Term Strategy
DELTA = CHANGE D E L T A DATA ENTERPRISE LEADERSHIP TARGETS ANALYSTS
The Pyramid of Analytics Maturity
Market Leader Industry/Segment Distributions Stage 5 Competitor (5-5.99) Stage 4 Company (4-4.99) Stage 3 Aspirations (3-3.99) Stage 2 Localized (2-2.99) Stage 1 Impaired (1-1.99) 5 4 3 2 1 3.21 1.92 3.34 2.51 3.12 2.35 3.75 1.73 4.05 4.06 3.96 3.63 3.61 3.08 2.97 2.89 2.89 2.82 2.89 1.95 3.76 3.31 4.05 4.09 3.19 3.51 4.94 4.07 Total 0 2.24 2.88 2.89 2.96 3.05 3.19 3.23 3.29 3.43 3.55 3.58 3.62 3.91 4.56
21 Financial Performance
22 Investment Performance
23 Digital Natives Key Characteristics Must Maintain Competitive Competitive Advantage Rating Satisfaction Rating 83% +52 +58 Amazon 5 4 3 2 1 0 50 59 Good, 60-69 Very Good, 70+ Excellent 4.94 4.95 4.92 4.87 4.97 4.95 4.94
Joseph M. Katz Graduate School of Business Offers MBA programs in multiple formats: Full-time MBA Professional MBA Executive MBA Joint- and Dual-Degrees, Other program offerings: Specialized Master s (MS), MS in Pharmacy Business Administration, and PhD degrees More than 23,000 alumni in nearly 90 countries Second-oldest executive education program in the world Five academic centers in specialty areas David Berg Center for Ethics and Leadership, Healthcare Management, International Business, Supply Chain Management, and Executive Education
EMBA Worldwide Overview 18 months in duration 48 academic credits; identical MBA degree across two locations Complete a total of four Global Executive Forums Classes in Pittsburgh are held on alternating weekends (Friday and Saturday every other weekend) Classes in São Paulo are held once per month (Wednesday through Sunday) Tuition includes: University fees, books and course materials, select meals, and hotel accommodations at the Global Executive Forum Next Katz EMBA Worldwide class begins in May 2018
Katz-UPMC EMBA Healthcare Program Overview 19 months in duration 48 academic credits Curriculum infuses healthcare into every business course and there is a practicum experience Classes are held on Friday and Saturday, with a portion of classwork offered through guided study and distance learning Tuition includes: University fees, books and course materials, and select meals Inaugural Katz-UPMC EMBA Healthcare cohort launched in May 2017
Enhance Your Career According to 2012 Executive MBA Council Student Benchmarking Survey EMBA graduates received a 17.3% average salary increase 60% would recommend program to friend or colleague 54% would support the program as alumni High Return on Investment Managerial development, promotions and advancement, and greater international mobility Career support from Executive in Residence Ned Sherry Former President and VP of large manufacturing corporations
Experience the Katz Difference The Katz EMBA Worldwide program is a comprehensive experience in business management, where you will gain: The confidence to embrace change and adapt to new challenges Fluency in the international language of business The functional skills to think and act more strategically in your organization The tools to effectively manage and lead others The ability to leverage your network into a more successful career Are you ready? You can be.
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