Delaney Turner 270003RQ8K Delaney.Turner@ca.ibm.com | | Tags:  ibmbao iod11 | 0 Comments | 508 Visits
Moneyball author Michael Lewis and Moneyball pioneer Billy Beane closed out Information On Demand 2011 in a rollicking conversation with event host Katty Kay. Among the topics were challenging a century-old business culture with business analytics, the risks of standing still and why it's never a good idea to mess with Billy Beane's mom. Turbo's already done a great summary, so I've distilled their conversation into a few key quotes.
On the meaning of Moneyball: 'This was riveting to me. The number crunching was less interesting than what it exposed about the markets people operate in. The people running baseball considered themselves player experts because they'd been doing things the same way for 150 years. And here was Beane recruiting people the market perceived as defective. He was building a juggernaut out of defective parts.'
On bias: 'People tend to overvalue things that are flashy and easy to see. And they tend to undervalue things that are more difficult to see. You need to understand the forces that are clouding your judgement.'
On Beane and his players: 'He had tremendous credibility with the players because he was a great athlete. Being bigger than them also helped. The players were physically intimidated. It was kind of the law of the jungle in the clubhouse – reason imposed by violence.'
On offending Beane's mother because he left in Beane's profanity: 'She said, 'My son doesn't talk like that.' After the book signing I invited her to a two-hour dinner. It was the most awkward conversation I've ever had. I laid on as much charm as I could and got nowhere. She was just as angry with me at the end as at the beginning.'
On the need for change: 'For us it was out of necessity. Where were we going to get the best return on our dollar? We weren't in a position to trust emotion to run our business. We couldn't invest in the romance of the players. We had to be disciplined card counters.'
On taking risks: 'We didn't think it was risky because the math told us we'd be successful. Over enough games we knew we'd weed out the randomness. There was certainly resistance, but there was more risk in not doing it. Going with our gut would have been the most irrational thing to do.'
On Lewis revealing the secret: 'You could see the market was going move. It was just a matter of time. There was already momentum – you could feel the rumblings. You couldn't ignore the fact that the data was everywhere. The secret now is to keep your expertise in-house.'
On outcomes: 'I believe the best teams make it to the playoffs, but the best team doesn't always win the World Series. Small events in a short series can have a bigger impact; we never try to make decisions based on short-term results.'
On being played by Brad Pitt: 'You tend to hold your breath while they're casting the film. When you hear it's Brat Pitt, you exhale.'
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Tim O'Bryan 270001NMX7 firstname.lastname@example.org | | Tags:  businessanalytics businessanalyticstoday provenpractices timobryan | 0 Comments | 499 Visits
Learn the value of the new IBM Cognos Planning 10.1.1 (GA November 22). You will be pleased to learn of this release as it affirms IBM’s continued commitment to ongoing support and value-added enhancements to the IBM Cognos Planning solution. The release fulfills our customers latest requests with:
- features for greater ease and speed;
IBM Cognos Planning v10.1.1 delivers additional functionality for contributors (end users), faster access to data for reporting, an improved installation features, and conformance with IBM Cognos BI version 10.1.1 and Microsoft Excel 2010, and other key solutions.
Click here to listen!
Financial Performance Management for the Empowered CFO (using IBM Cognos TM1, IBM Cognos Controller & IBM Cognos BI for Scorecarding)
Tim O'Bryan 270001NMX7 email@example.com | | Tags:  timobryan businessanalytics businessanalyticstoday provenpractices | 0 Comments | 495 Visits
To read the remainder of this blog please click here.
Tim O'Bryan 270001NMX7 firstname.lastname@example.org | | Tags:  profitability-optimizatio... businessanalyticstoday timobryan businessanalytics | 0 Comments | 494 Visits
IBM Cognos TM1 is like a Swiss Army knife – it has capabilities to do a
lot of different things extremely well. One of the practices it’s
being utilized for with incredible results is an emerging, but no so
well understood, practice entitled profitability modeling and
optimization. The power of IBM Cognos TM1 is the primary reason this
practice has emerged. Companies adopting IBM Cognos TM1 as the
technology of choice for this practice is the primary reason they’re
thriving moving from ‘also rans’ to industry leaders. Still, this post
is less about IBM Cognos TM1 and more about the process, Profitability
Modeling & Optimization.
When talking about profitability modeling & optimization it’s more illustrative to start with the ever-important strategic element of price. It’s that set amount that can make or break a product or service or even the company’s acceptance by the marketplace. Price, of course, is most often set by what the market is willing to pay for this product or service. A lot of factors can go into your pricing strategy including things like the brand equity and image of the product or service (Think Tiffany’s), expected sales volumes (Think economies of scale), competitive factors (Only game in town?), or if it’s a new category being created. Of course, we know that companies profit by selling this product or service at a margin greater than its cost. Then, a profit is turned.Now, what you do with those profits is then up to the company to decide. Do you reinvest those profits? Most do. If so, how do you allocate them across the business for the most profitable return? Maybe you even want to release some of them to shareholders via dividends? What about making acquisitions? These are important decisions to make based on what the future needs of the business are. This is a good problem to have.
Enter Profitability & Optimization.
To sustain competitiveness in the marketplace organizations must be able to model their profitability to maximize profits and optimize the components to profitability that incur costs. Most companies are performing some form of profitability and optimization activities everyday. The BIG difference is that some are much better at it than others. Why is this? What separates them from the others? It comes down to the best-in-class organizations investing in their people, the related processes, and a capable technology.
Ask yourself the following questions:
Now, how would your colleagues in Sales, HR, Marketing, IT, Operations, etc. answer these questions?
It’s critical to know that every area of the business is looking at some element of profitability. Running scenarios, what if, and profitability analysis with a 360-degree viewpoint of the data is the lifeblood of value-added analysis for making smarter decisions which, if done effectively, translates into better corporate performance. Without better insight and understanding of the information derived from profitability modeling and optimization, business users are forced to go on their gut and/or out of date information — or, worse, they’re waiting until they do get the information they need before they can act…tick, tick, tick. Time is money.
If you and the rest of the workforce don’t have this information at your fingertips don’t fret because you’re not alone. However, things are changing. Companies today are investing more and more into this practice area as technology has caught up in a way that’s allowing for massive data volumes to be sliced-and-diced in seconds for this very purpose.
Now is the time to act. The technology is there so I’d ask why isn’t your organization there too. Hustle up. I know a lot of companies that are doing this practice very well – and some that aren’t unfortunately. They’re the ones looking to leverage IBM Cognos TM1 to put them on the path to better PM&O.
If you want to know more about this subject feel free to email me to discuss further.
Click here to see more resources on IBM Cognos TM1.
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Tim O'Bryan 270001NMX7 email@example.com | | Tags:  timobryan kpis provenpractices businessanalyticstoday businessanalytics strategyexecution strategy | 0 Comments | 485 Visits
Books. There’s all genres. Business. Nonfiction, Fiction, History, Current Events, Biographies, Mysteries and on and on. Whatever the genre there’s nothing like a great book. They can entertain you, inform you of information you’d otherwise never know, challenge your thinking, and even change your life. Many people like to read so much that they’ll take on multiple books at a time each serving a different purpose: one, current events; another, fiction; a third, history; a fourth, humor, etc. I suppose the thinking is that depending on their mood they’ve got a book to satisfy that moment’s interest. If you’re in this camp then you know you can easily end up bouncing from book to book, day to day slowly chipping away at each one.
The Close, Consolidate, Report & File process: Without Automation & Embedded Controls It’s A House Of Cards
Tim O'Bryan 270001NMX7 firstname.lastname@example.org | | Tags:  businessanalytics financialperformancemanag... businessanalyticstoday ccrf close-consolidate-report-... timobryan | 0 Comments | 470 Visits
Delaney Turner 270003RQ8K Delaney.Turner@ca.ibm.com | | Tags:  iod11 business_analytics | 0 Comments | 430 Visits
You can learn by listening, learn by watching or learn by doing.
Or, you can go to Information On Demand 2011 and do all three.
Once again, IOD offers an abundance of learning opportunities to help you increase your product knowledge, sharpen your professional skills and get the information you need to solve problems or move your project forward. I've scanned the Business Analytics Forum Guide (BA Forum being a major component of IOD 2011) to highlight 10 ways you can come back from Vegas much better equipped to turn insight into action. Some of the opportunities are located in the EXPO, others are breakout sessions that you'll need to schedule in your Agenda Builder.
1. Play in the Usability Sandbox: Share your experience to shape product direction. Test-drive new prototypes and meet with our usability experts in small-group design review and feedback sessions. You'll also have the chance to vote on and prioritize use requirements. This year's sessions include Dashboarding (BGN-1545), Mobile BI (BGN-1549). Advanced Data Modeling (BGN-1550) and Social Networking Analytics (BGN-1554). See page 67 of the Business Analytics Forum Guide for a full list.
2. Learn to better navigate IBM Support: New this year, our "Navigating IBM" drop-in area lets you talk one-on-one with subject matter experts who can guide you through the programs, processes, policies and systems you need to use for Support and Training. We've geared these sessions to focus on increasing your satisfaction with demonstrations and discussions focused on online support and knowledge resources, searching and enrolling in training, Web IDs and IBM Customer Numbers (ICNs) and using the support request tool. You'll find it in the EXPO.
3. Drop in on our Demo Theaters: These 30-minute sessions help you lean more about topics that might not be covered in full breakout sessions. Join our product managers as they guide you through new solutions and little-known product features in IBM Cognos 10, IBM Cognos TM1, IBM SPSS Decision Management and more.
4. Labs! Labs! Labs!
Our Hands-on Labs feature experienced professional instructors providing classroom-quality training. Each three-hour session takes you on a deep dive directly into a specific product to give you a greater understanding of its features and potential. Many of the nearly 20 sessions at this year's event were suggested by last year's attendees. Titles include Foundations of Predictive Analytics: IBM SPSS Statistics (BGN-3469), New Self-Serve Reporting Capabilities in IBM Cognos BI (BGN-3632) and Advanced Generated SQL Concepts and Complex Queries (BGN-3696). See page 63 of your Business Analytics Forum Guide for the full list and be sure to add these sessions to your Agenda Builder.
Our Products Lab lets you test drive our products at your own pace and on your own schedule with step-by-step instructions and direct input from product experts who are always on-hand. You'll find it in the EXPO and you can drop in any time.
Also in the EXPO, our Services and Education Lab lets you explore our training options, discover our new new approaches and work one-on-one with our consulting services team. Discover how to share your knowledge with your team back home with Web-based training courses, self-paced virtual classroom options, IBM Cognos embedded learning videos and instructor-led online training. Drop in whenever, no need to book.
5. Take advantage of pre-conference training: Get a head start on the conference with two full days of hands-on training specially priced for Forum attendees. This year's sessions include Professional Report Authoring (B51C9), Automated Data Mining (0ACG2), Data Management and Manipulation (0G5C9) and Authoring Reports with Multidimensional Data (B51C1). See page 18 of your Forum Guide for more.
6. Get certified for free: Save up to $600 by taking three IBM Software Certification exams at no charge, and take as many more as you'd like for 50 percent off the normal fee. Certification exams are available throughout the conference and a full list of certification exams is available here.
7. Boost your business leadership skills in our Business Leadership Forum: An industry-specific program for executives, managers and decision-makers. We've put together a rich curriculum of customer case studies, panel discussions and industry solution overviews focused on resolving key business challenges. Choose from 34 sessions exploring operational efficiency, customer and financial analytics, risk and compliance. Session titles include "How Banks Can Improve Customer-Centricity with Advanced Customer Customer Profitability Analytics" (LFM-2609), "Driving B2B Sales with Predictive Analytics" (LSA-2268), "Fighting Fraud in Government Services" (LGV-1999) and "Getting Business Value from IBM Watson" (LSA-3008). See page 54 of your Forum Guide for a full list.
8. Have lunch with your peers: Our "Birds of a Feather" lunches let you discuss your challenges, strategies and successes with people just like you in a relaxed and informal setting. This year's topics include BI and Cloud Computing, Professional Report Authoring, Predictive Analytics, Statistics and Support. Our Industry Lunches let you discuss the challenges you're facing and the strategies you're using to resolve them. Whether you're in Banking, Retail, Healthcare or Manufacturing, these lunches are also a great way to reconnect with friends and expand your network with new contacts.
9. Talk to Support: Schedule time with an IBM Cognos or SPSS technical product expert for 30 minutes of one-on-one attention to resolve your toughest technical challenges. These experts have deep expertise within and across our Business Analytics product portfolio, so nothing is off-limits. Just be sure to indicate the issue and/or product you'd like to discuss. Previous topics have included Integrating BI with Active Directory authentication, Recommendations for fail-over while building cubes and Predictive modeling tips, techniques and best practices.
10. Schedule a workshop: This year's event offers a wide range of in-person and interactive workshops. You'll work in small groups with experienced IBM subject matter experts to boost your Analytics Quotient (BAW-3805), explore a Business Intelligence Competency Center (BAW-3808), or become a Value Integrator in Finance (BAW-3807). A full list is on page 60 of your Forum Guide.
In my next post, I'll be looking at the Social Media and Customer Analytics Track - the newest addition to the Business Analytics Forum curriculum. For more information about IOD overall, click here. To register with the $300 Early Bird discount, click here.
A new Analytics Center of Excellence Community has been launched on analyticszone.com - where you can download the free book "5 Keys to Business Analytics Program Success". Join the conversation today at www.
Tim O'Bryan 270001NMX7 email@example.com | | Tags:  businessanalytics businessanalyticstoday leadership timobryan | 1 Comments | 412 Visits
“He who hesitates loses.”
The ugly truth of this phrase rings true in the case of battles that never occurred in the American Civil War. For those unfamiliar with this war the American Civil War occurred during the mid-1800′s from 1861-1865 on U.S. soil. It was fought between the North (Union States) and the South (Confederate States) and was primarily triggered by the election of Abraham Lincoln in 1860. Its definitive starting point occurred on April 12, 1861 at 4:30am when the first Confederate shot hurtled into Fort Sumter, a Union stronghold, sitting at the entrance to the harbor of Charleston, South Carolina.
The conflict continued until a final peace was made at Appomattox Court House on April 9, 1865 between Union General Ulysses S. Grant and Confederate General Robert E. Lee. At the outset of the war, the North was better organized, better equipped with a much larger conscription of troops not to mention having far more resources at its disposal than its southern counterpart. Despite the South’s opening victory at Fort Sumter, a largely symbolic victory for the South, many predicted the North would prevail swiftly and decisively. In 1861, President Lincoln was resolutely confident that a string of Union victories as they marched their way from Washington, D.C. to the seizure of the Confederate capital of Richmond, Virginia would be enough of a blow to the Rebels that the Confederates would be forced to give a total surrender. The key for this surrender to be given though was that the Northern Army needed to move quickly from their current position in Washington, D.C. down to Richmond to dismantle the South’s capital and central command post: without the shepherd (Richmond) the sheep (Southerners) would lack direction forcing an end to the war. All pointed to an assured victory for the North. Or so it seemed. “On to Richmond!” was the northern cry. Lincoln gave the job of leading the Union Army to General George B. McClellan. McClellan was revered for his many talents. Smart, pedigreed, and more than capable, McClellan had the trust of all Northerners. March to Richmond, plant the Union Flag and McClellan was assured to be a hero. As I mentioned earlier, no battle never fought was ever won. Despite overwhelming odds in his favor and indisputable evidence that his army far outnumbered the Southerners, General McClellan repeatedly hesitated to march his troops into battle against the Confederate army which stood between him and his ultimate objective, Richmond. The Confederate capital at the time of his hesitations was literally within McClellan’s sights but he never made it there because he failed to act. Instead, after a few defensive squirmishes with Southern forces and despite multiple requests from Lincoln to fight, McClellan all-too-eagerly retreated hat-in-hand back to Washington, D.C. giving up ground to the South’s General Robert E. Lee who made an aggressive march northward to Antietam into Northern territory. What a turnabout. I wonder if this is what prompted Lincoln to later say, “I can make more generals, but horses cost money.” Obviously, Abe had to mind his dollars and cents now given that this would be a long and protracted war.
My point isn’t to denigrate the character of General McClellan. Not at all. He did many exceptional things in his life of which he should be proud. What I mean to do is to illustrate an example where sitting idle, even when there’s overwhelming evidence to support taking that action, is a missed opportunity. We’ve all done this in one way or another. We wait to act. It happens to the best of us. A lot of times taking action on something means change from the norm and, regardless of the ultimate benefits, we can resist that change because, well, it’s change. These reasons alone are what cause a lot of people to hit their personal pause button and not do anything.
Let’s look at this from a different perspective. Have you ever had your master bathroom redone? If so, then you’ll know what I’m talking about. Tons of benefits here. Maybe you’d be getting a new jacuzzi tub, a nice steam shower and even more cabinet space not to mention your own sink this time around… Still, most resist a project like this because it’ll mean losing your bathroom for quite some time before it’s ready for prime time. Big benefits to upgrading your bathroom but there’s certainly going to be some inconveniences (read change) before it’s usable.
No matter how necessary the project is whether it’s redoing your master bathroom or marching regiments of 100,000 men into enemy territory don’t let the forces of hesitation get the best of you. Yes, there will be initial adjustment pains as you go through the process but keep your eye on the ultimate prize – and, when applicable, make sure you’re keeping everyone else’s eye on the prize too.
If you see measurable benefits justifying an investment in something, try to see the benefits beyond the initial ramp up time and just go for it.
(Shameless plug) If you’re thinking of deploying Business Analytics solutions to enable critical business processes at a minimum take stock of what the possibilities are. Look at your processes such as the following:
…take stock of what the best practices are in one or two of these areas and see how your company measures up. Perhaps this is an opportunity to drive a planning & analytics optimization initiative across finance and the rest of the organization (Check out IBM Cognos TM1). Or, maybe you want to look at automating your financial statement reporting practices (Check out IBM Cognos FSR), or even review your risk management practices (Check out IBM OpenPages). Look at the processes first. See what’s preventing these processes from being at a best practice level. There could be many reasons for this. After you’ve done this take a look at the enabling solutions that are out there that address these processes. Whatever it is don’t hesitate because there might be some additional work in the investigation phase or in the technology implementation phase because, once it’s up and running, you’ll be glad you did.
The measurable benefits in adopting these solutions, such as automation, embedded controls, workflow management, minimal administration, etc. which allows for higher frequency forecasting, stronger analytic capabilities, access to real-time reporting, effective scenario analytics, best-in-class predictive analytic capabilities, rigorous statutory reporting & risk management enablement, etc.,with you championing the project can be your path to success while the organization benefits from the bottom line ROI. Everybody wins. You can become the figurehead for it too because you acted on it.
“Fortune favors the bold”.
Delaney Turner 270003RQ8K Delaney.Turner@ca.ibm.com | | Tags:  ibmbao iod11 | 0 Comments | 410 Visits
IOD started with kids playing with jigsaw puzzles and ended with naked baseball players.
I dare you to say that analytics isn't fun.
And transformative. And an absolute priority should you want to survive in these uncertain times. Over the past three days we've all seen and learned so much that it's sometimes difficult to recall the key themes. So I've presented them for you here, built as we've gone along learning to turn insight into action:
1. Mind the gap: The competitive and performance gap between analytics leaders and laggards is getting wider. The time to act is now. If you're just starting, start where it hurts the most. If you're on your way, take new steps to keep your momentum. Our business value assessment or Analytics Quotient Quiz will help you find your way.
2. Big data is a big deal. There's more of it every day. How much more? Exponentially more. In all forms, from every conceivable source. Learn to master the 3 'Vs' - Volume, Variety and Velocity - and use them to your advantage, or risk being buried by them, perhaps for good.
3. Commit to change, embrace the new: Last year's assumptions and last month's targets are history; focus on what will take you forward. Commitment to change has helped IBM survive for a full 100 years. Billy Beane overturned an entrenched century-old culture to redefine value and change the way his game was played. Your presence at IOD attests to your desire to change, too.
4. Paging Dr. Watson: Hospital readmissions are punitive for the provider and counterproductive for the patient. Incomplete data drives incorrect diagnoses. Medical errors cost real human lives. With our health care partners we've put Watson to work with real-world solutions to reverse these trends and eliminate these errors. With Watson's help doctors can better understand each patient in startling new detail and treat each patient in effective new ways.
5. Don't mess with Billy Beane's mom. If you're writing a book about a baseball GM who swears a lot, be prepared for her withering glare. Her son just doesn't talk like that.
6. No industry is immune from disruption. Urbanization. Changing citizen and customer expectations. Economic uncertainty. Increased regulations. Lots and lots of data. All are interconnected; all are hitting you on every side, all the time. Your task is to quantify the impact, assess the risk and harness opportunities in new and productive ways. On a planet that is instrumented, interconnected and intelligent there is no domain that is untouched by these forces. There is no domain where analytics - and IBM - cannot help. At IOD you've seen how we're doing precisely this.
7. Jeff Jonas is evil. Just look at the guy. Look at the way he dresses. Luckily, he's the charismatic, smart kind of evil you can't help but listen to, because you can feel yourself getting smarter the longer – and faster - he talks. Frankly, I'm glad he's on our side.
8. Got social? It's time to get serious about social media analytics. There's enough data out there and enough computational power to build predictive customer loyalty models based on blogs and tweets alone. That's along, long way from zip codes. Need the tools to get started? We have them, too.
9 .Congratulation, Ginni. Our soon-to-be President and CEO will take charge with IBM operating from a solid foundation and 'at the top of its game.' She's successful, she's thoughtful. She gets things done.
10. It's business, and it's personal. This is the age of the empowered consumer. They're demanding, they're patient and they're in control of your brand. If you want to win their business – and keep them coming back – you'll need to know more about them than their zip code. The data to do this is out there and so are the tools. The choice of how and when to use them is entirely up to you.
11. Kudos to the Mandalay Bay staff for keeping us fed and caffeinated. Greeting 11,000 bleary-eyed conference goers with a friendly smile before 9 AM is no easy task; yet to a person you outdo yourselves every single year.
Well, that's it from my end for this year's edition of Information On Demand 2011. As of right now, I'm taking what I believe to be a very necessary vacation. I'll return refreshed and recharged in two weeks. Safe travels, and see you next year.
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