In the current economic climate public bodies need to become more efficient in the way they operate, cut costs and workforce, but continue to deliver the core public services their citizens require.
Analytics provides public sector organisations with solutions by enabling them to make evidence-based business decisions which improve both the efficiency and quality of services delivered, but also incorporates an enterprise wide view of the business, rather the traditional siloed approach.
Effective analytics requires deep industry and sector knowledge, broad functional capabilities, and a high degree of technical sophistication. Deloitte combines all of these strengths in its business analytics services.
Data has been referred to as the new raw material of the twenty-first century. And like any other raw material, it needs investment to locate, extract and refine it before it yields value. Used wisely, data creates opportunities for organisations to make more robust decisions, uncover cost savings and get to know their customers better.
Open data, employed in combination with open platforms, such as APIs (Application Programming Interface), open standards and open licences, expands the network of minds and unlocks the data’s latent potential. However, the companies and entrepreneurs using open data need to be nurtured and supported if they are to succeed.
The global economic downturn has created an unprecedented set of challenges for workforce planning and management in many public sector organisations, particularly in relation to ensuring that citizens continue to receive core services whilst reducing the cost of the delivery of those services. Traditional responses to these issues are simply not viable options, and as a result public sector clients require new approaches and insight to solve for these issues.
Financial management and forecasting for any organisation is never easy, but public sector organisations are facing unprecedented fiscal challenges. Increased regulation and compliance requirements, reduced budgets and a drive to radically improve transparency and evidencing of ‘value for money’ to the public mean that now, more than ever, public sector organisations need innovative and real-time solutions for their financial reporting and management challenges.
In the 21st century, public sector organisations have to significantly change the way they both target and deliver services to their ‘customers’, the citizen. Reduced budgets, competing private sector alternatives and an exponential growth in ‘citizen awareness’ about how the services are delivered means that a new approach to understanding the needs of the ‘customer’ is essential for a public sector agency to remain relevant, efficient and cost-effective to the taxpayer.
Customer and Growth Analytics offer public sector organisations a collaborative fusion of advanced statistical analysis and business advisory services to meet the changing requirements of the citizen landscape; providing deep insight into the needs of their citizen’ base and the likely behaviors they will exhibit in response to any given action. This enables clients to provide the right services to the right groups of citizens at the right time, whilst significantly improving cost efficiency and customer satisfaction.
As scrutiny on public sector budgets has increased over the last five years, so too has the focus on regulatory compliance and risk management within public sector organisations. This has led to a shift in the culture of organisation controls and monitoring solutions for regulatory and risk purposes from a ‘reactive’ approach to a ‘proactive’ one. However, in recent years, high profile fraud and corruption cases and increasingly complex anti-bribery, anti-money laundering and anti-fraud regulations has continued to threaten the public sector with the risk of sanctions, penalties and the loss of public trust.
Risk & Regulatory analytics provides public sector organisations with an ability to stay ahead of the curve, by leveraging technology-based solutions which build upon advanced analytics and signal detection techniques to make sharper controls, and smarter monitoring solutions.
To find out more about how we can help you and your business please visit our analytics web page.