With a Roman Legion's worth of bagged lunches making their way through the
revolving doors of the Marriott Park Rome, it's a good time to reflect on the first-ever Business Analytics Program at IOD
EMEA. I'll be posting more data, findings and maybe a word cloud or two after a few days off with the Nikon, but for now here's a summary of what I've seen and thought about:
Everything is moving, in every direction, everywhere, all the time. Your task? Make sense of it, understand it, predict the outcomes, decide and act. In real time, with confidence. No human can fully grasp the complexity, the volumes or the velocity of the world's growing data field. But business analytics can. If you're in telco they can tell you which customers are about to leave. If you're in HR, they can tell you which employees are about to leave. If you're in insurance or banking, they can tell you when someone's trying to rip you off. They can drive better, faster, dare I say Smarter decisions for everyone in your organization, at every level, every day. Gartner calls it "Pattern-based Strategy." I say it's simply the new way of doing business.
Smarter Planet is real, here, and now. I've seen the evidence and it's pretty great stuff. In client sessions, partner sessions and our flawless keynote presentations I've seen innovative organizations taking advantage of our instrumented, interconnected and intelligent world to prevent crime, eliminate waste, cut costs, minimize risk and improve outcomes in matters big and small. Smarter Healthcare connects to Smarter Water. Smarter Water connects to Smarter Grids. Everything connects and synchronizes to build a Smarter City. "It's not just marketing," my SPSS colleague Erick Brethenoux remarked. "It's a brilliant organizing principle."
Some things in Europe will forever baffle me. I'm no stranger to this continent. I've traveled here quite a bit. I can order beer in six languages. I know the difference between Gothic and Romanesque. I've studied and worked in France and have a good understanding of Italian hand gestures. Yet for the life of me I'll never understand how the shower faucets work (turn the knobs and hope for the best), how the light switches work (why "down" for "on"?) or how the phone numbers work. (Do I need to add a "0" before the city code? I hear a quick beeping sound. Is that right?).
You can do amazing things with business analytics software. And you can do them all in real time. Like what? Like refining your understanding of key customer loyalty. Like testing and rethinking your assumptions about profitability, your marketing effectiveness, or your exposure to fraud and risk. You can optimize decisions and outcomes across every core process. You can paint miles of white space between you and the other players in your space. If you're interested you can start right here.
You can lead your industry and your peer group with help from IBM Global Business Services. Examples: The IBM Global CIO Study. The IBM Global CFO Study. And just this week, The IBM Global CEO Study. Each one is based on the largest survey of technology, finance and business executives in the world. Each one provides extensive insights into the challenges and opportunities businesses face today with additional insights into specific industries. Each paints a compelling vision for overcoming those challenges and seizing those opportunities that you can act on right now. And each one available free of charge.
I did not bring nearly enough black clothes. Though I think I should get at least some credit for the cufflinks and pointy-toed shoes.
If you're not predicting, you're not performing. There's not a single aspect of your business that can't be made better with predictive analytics. And with the release of IBM SPSS Decision Management 6, there's not a user in your business who won't find it astoundingly easy to use.
Unstructured data: Think beyond the rows and columns: If the only data you look at comes from neat and tidy sources, you're ignoring 80 percent of the data at your disposal. That means missing out on what your customers really think of you, what your competitors might do next, and where you should really be directing your efforts and resources. Two places to start are IBM SPSS Modeler Professional and IBM Cognos Content Analytics.
Technology and society are both on the verge of incredible transformations. IBM Fellow Dr. Bernard Myerson - possibly the funniest physicist I've ever encountered - demonstrated how the greatest leaps forward for people and the tools they use are completely maxed out. He also explained how IBM partnered with its traditional rivals in "radical collaboration" to push back on the limits of science. "We're on the verge of some of the most significant changes in our history," he said. But for these changes to work for the good, they need to move in lockstep.
Don't be afraid of "The Ketchup Effect." A lot of things look like failures in the middle. But as host Magnus Lindkvist reminds us, the longer you keep hitting that bottle, the sooner you'll get what you're looking for. The formula for change is simple: Courage X Persistence. Don't be afraid to push your ideas. Don't be afraid to get out there and dance.
Ok, that sums it up for now. There will be more to come, but right now I'm off to explore the Eternal City.
A tag is a keyword you assign to make a blog or blog content easier to find. Click a tag to find content that has been assigned that keyword. Click another tag to refine the search further. Click Find a tag to search for a tag that is not displayed in the collection.