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Posts tagged ‘BI Shared Services’

7
Sep

Do you have BI Performance Anxiety ?


BI is key to enabling companies to turn oceans of data into predictive models and actionable decisions. However, a survey of 353 executives in large companies, reported that their chief BI concern was the performance of various BI solutions.

Development, support and enhancement teams are typically deployed to address BI performance challenges with varied success.  But most companies don’t have a dedicated focus on performance.

A BI Center of Excellence (BI CoE) measured by performance KPIs and service metrics is one solution to this problem. This is not an area that traditionally draws high-level attention or is featured in a dedicated CoE initiative, yet in the right circumstances it offers unique value. Read more »

12
Jul

Are you one of these — Data Scientist, Analytics Guru, Math Geek or Quant Jock?


“The sexy job in the next ten years will be statisticians…”
‐ Hal Varian, Google

Analytics Challenge — California physicians group Heritage Provider Network Inc. is offering $3 million to any person or firm who develops the best model to predict how many days a patient is likely to spend in the hospital in a year’s time. Contestants will receive “anonymized” insurance-claims data to create their models. The goal is to reduce the number of hospital visits, by identifying patients who could benefit from services such as home nurse visits.

The need for analytics talent is growing everywhere. Analytics touches everyone in the modern world. It’s no longer on the sidelines in a support role, but instead is driving business performance and  insights like never before.

Job posting analysis indicate that market demand for data scientists and analytics gurus capable of working with large real-time data sets or “big data” took a huge leap recently.  The most common definition of “big data” is real-time insights drawn from large pools of data. These datasets tend to be so large that they become awkward to work with using on-hand relational database tools, or Excel.

It’s super trendy to be labeled “big data” right now – but that doesn’t mean the business trend’s not real.  Take for the instance the following scenario in B2B supply chains. Coca-Cola Company is leveraging retailers’ POS data (e.g., Walmart) to build customer analytical snapshots, including mobile iPad reporting, and enable the CPFR (Collaborative Planning, Forecasting, and Replenishment) process in Supply Chain. Walmart alone accounts for $4 bln of Coca-Cola company sales.

Airlines, hotels, retail, financial services and e-commerce are industries that deal with big data. The trend is nothing new in financial services (low latency trading, complex event processing, straight thru processing) but radical in traditional industries.  In trading, the value of insights depends on speed of analytics.  Old data or slow analytics translate into losing money.

As data growth in business processes outpaces our ability to absorb, visualize or even process, new talent around Business Analytics will have to emerge. New roles such as Data Scientists, Analytics Savants, Quant Modelers are required in almost every corporation for converting the growing volumes of data into actionable insights.

Look at these data stats.

Read more »

3
May

Executing a BI and Analytics CoE


Most Organizations are Data Rich and  Information Poor

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Data overload is becoming a huge challenge for businesses and a headache for decision makers.  Public and private sector corporations are drowning in data — from sales, transactions, pricing, supply chains, discounts, product, customer process, projects, RFID smart tags, tracking of shipments, as well as e-mail, Web traffic and social media.

I see this data problem getting worse. Enterprise software, Web and mobile technologies are more than doubling the quantity of business data every year, and the pace is quickening. But the data/information tsunami is also an enormous opportunity if and only if tamed by the right organization structure, processes, people and platforms.

A BI CoE (also called BI Shared Services or BI Competency Centers) is all about enabling this disciplined transformation along the information value chain:  “Raw Data -> Aggregated Data -> Intelligence -> Insights -> Decisions -> Operational Impact -> Financial Outcomes -> Value creation.”  A BI CoE can improve operating efficiencies by eliminating duplication and streamlining processes.

In this posting we are going to look at several aspects of executing a BI CoE:

  • What does a BI CoE need to do?
  • Insource or Outsourcing the BI CoE
  • Why do BI CoE’s Fail?
  • BI CoE Implementation Checklist

Read more »

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