Like other companies, we can help our clients capture, manage and analyze their data. But only Deloitte has the deep industry expertise, advanced analytics capability, and understanding of decision-makers’ roles to maximize its value – turning everyday information into useful and actionable insights.
“What is your information-based strategy? You have more information at hand about your business environment than ever before, but are you using it to ‘out-think’ your rivals?”
Source: Tom Davenport, Jeanne G. Harris (March 2007. Competing on Analytics: The New Science of Winning. Harvard Business School Press.
Analytics is using data to generate insights to make smarter decisions that drive strategy and improve performance. Deloitte Analytics refers to the skills, technologies, applications, and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business strategy going forward.
What is included in our view of analytics:
Kennedy reports that the U.S. analytics consulting market is growing annually at the rate of 7.5 percent and will be more than US$8 billion by 2014. Gartner estimates the global analytics market to be over US$50 billion by 2015. The availability of cheap computing, the exponential growth of data, and the increased speed of innovation all make analytics “the next big thing”.
Deloitte Analytics is a global integrated market offering that drives substantial value for clients while growing revenue and profitability. We are uniquely positioned to differentiate Deloitte’s service offerings by our unmatched global industry and domain knowledge. Our people are key to a successful strategy and we currently have about 3,000 practitioners globally that work in Analytics. In order to meet our aggressive revenue targets, Deloitte Analytics will need to have over three times the number of people with analytics skills by 2015. To put this into perspective, it is estimated that at least one in every 25 hires over the next few years will need to have analytics skills.
Addressing "heart of the business" issues is crucial in projecting a highly relevant value proposition to clients, and to retaining and extending our market leadership. Deloitte Analytics will focus our industry expertise, analytics capabilities, and understanding of decision-makers' roles in developing, enhancing, and scaling offerings and solutions across the following domains:
Customer analytics provides clients with actionable insight on their customers – past, present, and future. These insights often result from forming a single, expansive view of customer relationships and behaviors across previously siloed products and channels. Armed with the new insights, clients can discover previously hidden up-sell and cross-sell opportunities, flag early signals of customer defection, and obtain better returns from marketing campaigns.
Supply chain analytics empower clients with insights on demand patterns, supply and distribution networks, and customer service requirements across transactional and operational systems. In a volatile economic climate, and in the context of increasing globalization, analytics can help clients to cut procurement costs, identify anomalies and potential disruptions, forecast demand more reliably, optimize logistics, and gain a holistic view of their entire supply chain.
Finance analytics help clients to manage performance in alignment with their business strategy. By helping clients get control of their financial data, finance analytics enable clients to model business processes and gain deeper insight into cost and profitability drivers. Plans, budgets, and forecasts become more accurate, and clients can better understand the significance of KPIs - and their true relationship to performance.
Workforce analytics help employers improve their workforce management processes by linking their HR strategy to analytical techniques. In an ever more diverse and decentralized workforce environment, insights gained from workforce analytics can help managers find ways to recruit – and retain – world-class talent, and address other data-driven workforce challenges such as employee safety.
Risk and regulatory analytics help clients to understand their risk exposure better, and to proactively identify and mitigate sources of risk on an enterprise scale. Armed with this information, executive management and boards will be better equipped to navigate challenging economic conditions, and complex legal and regulatory environments, with the insight and foresight that only analytics can provide.