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Short Takes...on Analytics

Take a quick break and enjoy our latest reflections on analytics

Our Deloitte Analytics leaders help some of the world's biggest companies better understand how to leverage analytics insights to improve operations and drive smarter decisions every day. In this blog, they share their reflections and insights.

Our Take: Questions on the minds of bankers

Video with Bob Contri, Principal, Deloitte Consulting LLP

There’s so much pressure in banking today to deploy capital efficiently, manage risk effectively, and engage clients. Could analytics help provide the answers?...Here’s our take.

 

Our Take: Adopting analytics in HR

Video with John Fiore, Principal, Deloitte Consulting LLP

Leaders need more than basic employee reports and peer benchmark data to align the enterprise’s human capital with the business strategy. Workforce analytics can help bridge the gap, providing the practical insight—and foresight—the HR function needs to address corporate objectives...Here’s our take.

 

Corner office analytics – Amping up the C-Suite

Posted by John Lucker, Principal, Deloitte Consulting LLP

Not so long ago, analytics was the domain of data scientists and statisticians who guarded the enterprise from the complexities of all things data. Today, analytics touches every corner of the business, and all the business of the corner office. C-suite executives may not be conducting deep-dive statistical analyses – nor do they have to. Innovations in...Continue Reading

 

Meeting the complex analytics needs of financial analysts

Posted by Sean Bradley, Senior Consultant, Deloitte Consulting LLP

Three years ago, Clear Channel’s Finance function was struggling. Its reporting and financial systems were so out of date that vendors had stopped supporting the software. IT was doing its best to keep things patched together, and the Finance staff often resorted to manual workarounds...Continue Reading

 

Forging new domains – Analytics in entertainment

Posted by Jeffrey Mischka, principal, Deloitte Consulting LLP, and Jordan Wiggins, senior manager, Deloitte Consulting LLP

Analytics is firmly entrenched in well-structured business domains, like supply chain, pricing, and risk. Business functions across a variety of industries are realizing the value of insight-driven decision making and are achieving better business outcomes with analytics. It sometimes seems that analytics has made its way into every nook and cranny of the global marketplace...Continue Reading

 

The smart grid conundrum

Posted by Dave Steiger, Senior Manager, Deloitte Consulting LLP

Smart grid analytics is getting a lot of attention these days and it’s easy to understand why. With all the data streaming in from smart meters and other intelligent devices, utility companies are eager to put this information to work...Continue Reading

 

“Old school” meets “new school” analytics

Posted by John Lucker, Principal, Deloitte Consulting LLP  and David Steier, Director, Deloitte Consulting LLP

New technologies and processes are emerging to augment or replace what was cutting edge just a few years ago. Machine learning and the enterprise data warehouse (EDW) are two areas where questions of “how much” new-school analytics is necessary to replace old-school data management and business intelligence approaches...Continue Reading

 

Retail customer engagement

Posted by Jeff Simpson, Director, Deloitte Consulting LLP

In theory, it’s easier to keep a customer than to attract a new one.  But if you’re like many retailers, you’re probably scratching your head, trying to figure out how to satisfy increasingly demanding customers who are shopping multiple channels -- online, in-store, and mobile...Continue Reading

 

Drilling down on data in 2014

Posted by Forrest Danson, Principal, Deloitte Consulting LLP

It’s almost unimaginable that 90 percent of the world’s data was generated in the last two years – and the data explosion has just begun. As the volume, velocity and variety of data continue to grow, so too will data-related challenges and opportunities for organizations seeking to manipulate, interpret, and extend data for greater value...Continue Reading

 

Our Take: Regulatory risk in banking

Video with Vivek Katyal, Principal, Deloitte & Touche LLP

Developing analytic capabilities is smart business – and for many banks, it’s increasingly required to address regulatory issues. A basic analytic foundation can help position bank leaders to make better business decisions that may increase profitability and reduce risk....Here’s our take.

 

Talent on the (analytics) job

Posted by John Lucker, Principal, Deloitte Consulting LLP

Amid estimates of a 190,000-worker shortfall for deep-tech analytics skills over the next four years, and a 1.5 million resource gap for data scientists and management-level analysts, it seems that an analytics talent crisis may be looming. Companies are faced with a growing number of analytics initiatives, many times without the right talent to oversee and execute on those them...Continue Reading

 

Our Take: Supply chain complexity

Video with Jerry O’Dwyer, Principal, Deloitte Consulting LLP

How do you proactively manage a supply chain with operations on six continents?  And what if the data is coming from 17 different systems around the globe?  Where do you start?...Here’s our take.

 

Our analytics predictions for 2014

Posted by John Lucker, Principal, Deloitte Consulting LLP

Few areas of business are changing faster than where and how analytics are being used. Turn your head for a second and—boom—you're falling to the back of the pack.From big data and visualization to predictive modeling and more, analytics is an evolving world of technologies and tools that few have time to keep up with...Continue Reading

 

Our Take: Tax analytics

Video with Mark Lazzaro, Senior Partner, Deloitte Tax LLP

When analytics is used to bolster a company’s tax compliance efforts, some companies learn that they’ve been overpaying taxes – in some cases by significant amounts of dollars. This alone can justify investing in tax analytics capabilities... Here’s our take.

 

Speed matters

Posted by Tami Frankenfield, Director, Deloitte Consulting LLP

Many insurers have told us that information they need to improve business performance or reduce risk is often locked up in data silos or spreadsheets. A simple request for information may take days or months to compile – if it’s available at all...Continue Reading

 

Our Take: Driving innovation in the insurance industry

Video with Neal Baumann, Principal, Deloitte Consulting LLP

Some leaders in the insurance industry are using analytics to drive innovative changes in their business processes—and often the result is more satisfied consumers, increased profitability, and lower risk... Here’s our take.

 

Our Take: Improving retail sales effectiveness

Video with Jeff Simpson, Director, Deloitte Consulting LLP

Some retailers act as if their e-commerce business and in-store business are entirely separate. But in reality, it’s the same customer who’s buying online and in stores.  One of the most powerful things a retailer can do is to bring their siloed data sets together to better understand their customers and persuade them to buy...Here’s our take.

 

Understanding analytical talent

Posted by Tom Davenport, Independent Senior Advisor, Deloitte Analytics

When it comes to big data strategies, a lack of analytical talent is constraining businesses from realizing their full potential. This is a key finding from “Benchmarking Analytical Talent,” a recent survey of analytical professionals by Talent Analytics in coordination with the International Institute for Analytics...Continue Reading

 

Our Take: Banking fraud

Video with Greg Swinehart, Partner, and Samir Hans, Principal, Deloitte Financial Advisory Services LLP

What if you could head off fraud before it even happens?  Advanced analytics helps bankers detect, in real time, transactions that may maybe suspicious – with more accuracy than ever before.  And it doesn’t take a huge investment to get started...Here’s our take.

 

Our Take: Finding data scientists?

Video with David Rudini, Principal, Deloitte Consulting LLP and John Houston, Principal, Deloitte Consulting LLP

Data scientists need a deep mathematical and statistical background, but they also need the business smarts to turn data into practical insights. It’s a difficult combination to find in one individual. So what should you do?...Here’s our take.

 

Big data meets small data

Posted by Michael Raynor, Director, Deloitte Services LP

Enabled by the constant march of technological progress, we are now able to collect and analyze once overwhelming quantities of data and so discern melodies of meaning amid cacophonous noise...Continue Reading

 

Is your business positioned for the analytics advantage?

Posted by Tom Davenport, Independent Senior Advisor, Deloitte Analytics

Across virtually all industries and sectors, the message from Deloitte’s recent Analytics Advantage survey is clear: The application and importance of analytics is expected to grow.  In fact 96 percent of survey respondents believes their use of analytics will increase over the next 3 years...Continue Reading

 

Our Take: Emerging practices in healthcare

Posted by Casey Graves, Principal, Deloitte Consulting LLP

Providers leading the way in healthcare delivery understand that analytics is much more than a software package or a technology project.  It’s a commitment to changing the way they do business, using data to help enhance quality of care while increasing efficiency...Here’s our take.

 

A map always helps

Posted by Forrest Danson, Principal, Deloitte Consulting LLP

Mention big data, and it’s easy to feel overwhelmed. It’s not just the volume of data that can be daunting.There are a host of peripheral issues that can get in the way of a big data strategy, from talent to executive buy-in, technological boundaries and beyond. From what we can tell, it’s usually a mix of all of the above...Continue Reading

 

Our Take: Tackle analytics now or later?

Video with Forrest Danson, Principal, Deloitte Consulting LLP

It’s a question that’s on the minds of many business leaders who are sitting on the analytics sidelines. Their educated guesses—based on years of experience—often match the answers others find through analytics.  So why jump in now when analytics technologies are still maturing?  Is there a downside of waiting?...Here’s our take.

 

Tuning your insight engine

Posted by Doug Palmer, Principal, Deloitte Consulting LLP

When members of the CMO Club were interviewed recently about social data and their businesses the results revealed some interesting trends among marketing executives. While the vast majority of CMOs (89 percent) say social data has influenced their decisions, more than half still don’t know or don’t see ROI across many social media tools...Continue Reading

 

Data analytics…Banking on it

Posted by Donald Monson and Sara Vandermark, Senior Manager, Deloitte Financial Advisory Services LLP

With increased scrutiny by various Federal groups, remaining in compliance is becoming increasingly difficult and at the same time, ever more important.  Billions of dollars in fines related to anti-money laundering (AML), fraud and LIBOR manipulation are sending a message that banks face stiff penalties and incalculable damage to their reputations as a result of non-compliance...Continue Reading

 

Analytics Answers

Posted by Casey Graves, Principal, Deloitte Consulting LLP

While this may seem like a drawback – in the way medications that solve specific health ailments often have unintended side-effects – it’s actually a good thing. Because, in raising more questions, analytics powers a cycle of innovation. Questions beget answers that beget further inquiry that begets new answers, and all of that fuels change...Continue Reading

 

How does your data garden grow?

Posted by Marcus Shingles, Principal, Deloitte Consulting LLP

Bombarded with the “new normal” of rapid-pace technological and digital innovation, the food, beverage and consumer packaged goods (CPG) industry faces increased pressure to cultivate “Big Data” into useful analytics and insights. Following decades of relatively limited - or linear - change, we are seeing a "knee in the curve" brought on by an exponential amount of small and big data digital exhaust...Continue Reading

 

Can sustainable data analytics bridge the internal auditing divide?

Posted by Neil White, Principal, Deloitte & Touche LLP

While many financial and auditing executives know the benefits of continuous monitoring (CM) and continuous auditing (CA), few outside of finance understand the potential value of these programs at an enterprise level. With risk, regulatory and compliance issues top of mind, CM and CA can create real value with real benefits...Continue Reading

 

Doing the unexpected

Posted by Vivekanand Gopalkrishnan, Director, Financial Advisory Services

Big data is hot. Unsurprisingly, much of what’s written about big data focuses on how big it really is, or the technology needed to exploit it. However, these discussions only hint at big data’s true power. Big data, if used innovatively, can be transformative. One way to innovate with big data is to use it as a force to actually shape the competitive landscape and drive innovation....Continue Reading

 

Is analytics driving the scale paradox?

Posted by Ryan Renner, Principal, Deloitte Consulting LLP

Wherever you look today, you can find examples of small and mid-size businesses leapfrogging competitors – even large multi-national organizations – by getting closer to their customers. By using innovative technologies like cloud, mobile and social media, small businesses can achieve a depth of customer understanding and ‘punch above their weight class’, generating insight that was once only the domain of the large multi-national enterprises...Continue Reading

 

High flyers

Posted by Jeff Schwartz, Principal, Deloitte Consulting LLP

High flyers are those early adopters applying analytics to almost every business decision, and HR is no exception. Talent analytics can offer HR new ways of approaching their most important talent questions, from recruitment to utilization to development to retention and beyond...Continue Reading

 

How to tell stories about data

Posted by Tom Davenport, Independent Senior Advisor, Deloitte Analytics

Ever wonder why books like Nate Silver’s “The Signal and the Noise: Why So Many Predictions Fail-but Some Don't” or Michael Lewis’s “Moneyball: The Art of Winning an Unfair Game” are so popular? In part it’s because of their ability to “tell a story with data.” They write about content domains—electoral politics, professional sports and financial services—that are becoming increasingly quantitative...Continue Reading

 

Big data: Too big to ignore

Posted by Jim Guszcza, Deloitte Consulting LLP 

Whatever else one might say about the business press, it is consistent.  With a notable regularity, good ideas are in turn noticed, branded, given a bullet point-friendly vocabulary, championed, boosted and then suffer the inevitable backlash.This cycle is playing itself out once again, as discussions of business analytics are increasingly framed in terms of the newly ubiquitous theme of “big data”...Continue Reading

 

Helping make the invisible visible with socialytics

Posted by John Hagel, Deloitte Consulting LLP

By now, you’re probably familiar with “social graphs,” the visual representation of how individuals are connected online. Popular social networks use social graphs to represent our personal connections.  While social graphs are interesting visualizations, they don’t tell us much in the way of practical business information...Continue Reading

 

The WOW of the HIVE

Posted by Lee Dittmar, Principal, Deloitte Consulting LLP

What if all you needed to see the solution to a pressing business problem was a creative environment …and a little imagination? Deloitte’s HIVE is where this happens. At the HIVE, teams of business leaders and consultants work together to explore how analytics can help solve business problems...Continue Reading

 

Text analytics – Ride the wave or stay ashore?

Posted by Cindi Thompson, Specialist Leader, Deloitte Consulting LLP

As you assess the potential of big data, don’t ignore the unstructured data sitting on your desk, web and social media sites and even sensor networks. Many companies have begun to combine these disparate sources of internal and external data to achieve new efficiencies...Continue Reading

 

Big data – Will it change everything?

Posted by Rich Penkoski, Principal, Deloitte Consulting LLP

“Big Data.” By now, you know it’s big news – perhaps bigger, even, than the name suggests. Big data refers not only to the historic influx of structured and non-structured data from non-traditional sources, but also to the big questions facing organizations wading into big data waters...Continue Reading

 

Then and now

Posted by Matt Gentile, Principal, Deloitte FAS LLP

In 1854, a severe cholera outbreak hit the Soho district of London. Between August and September of that year, 500 people died of the disease and three-quarters of the remaining residents fled the city. Physician John Snow, who would become the "father of epidemiology...Continue Reading

 

The dynamics of data and human behavior in decision-making

Posted by Steven Ehrenhalt, Principal, Deloitte Consulting LLP and Laura Bede, Senior Manager, Deloitte Touche Tohmatsu Limited

The science of decision-making – behavioral economics – is not new, but its importance is growing as the velocity of decision-making increases for organizations of all kinds. Behavioral economics draws upon insights from neurology, psychology, economics and other disciplines to better understand how human beings frame their decisions...Continue Reading

 

4 places big data makes sense – And why it’s worth getting there

Posted by Forrest Danson, Principal, Deloitte Consulting LLP

Small data. Big data. Medium data – we’ve begun to talk about data like a combo meal from the fast-food drive through. Regardless of its multiple flavors and sizes, data is now front and center in organizations that are paying attention to the flow of minable information from inside and outside of the organization...Continue Reading

 

Analytics and shared services – Delivering strategic value

Posted by Richard Sarkissian, Principal, Deloitte Consulting LLP

Shared Services is not a new concept but has historically been relegated to providing support for back office functions. While consolidating support processes and resources often results in short term cost savings and efficiency gains, the long-term value that Shared Services can provide is untapped by many organizations...Continue Reading

 

The insight economy: Finding value in big (and small) data

Posted by Forrest Danson, Principal, Deloitte Consulting LLP

You’ve probably seen the headlines – Big Data is this year’s media darling. While articles about big data keep coming, the marketplace may be lacking consensus on what exactly big data is and why anyone should care. In practical terms, big data refers to datasets so large and complex they can create significant challenges for traditional data management and analysis tools in practical timeframes...Continue Reading

 

The road worth taking on the workforce analytics journey

Posted by Rishi Agarwal, Principal, Deloitte Consulting LLP 

With the level of HR information maturity slowly increasing, there is an opportunity for organizations to use data and analytics to guide the organization forward in a way that makes a difference. Workforce Analytics can help provide the path forward and pave the way to solve business issues involving the workforce...Continue Reading

 

What Would Charles Darwin Say - About Customer Analytics in the Age of Big Data?

Posted by Suketu Gandhi, Principal and Greg Banks, Director, Deloitte Consulting LLP

Nature creates balance. Charles Darwin made a compelling case for this. In Darwin’s published views, when too much of a certain type of foliage grows in a given region, nature may answer by propagating species who in turn eat the foliage. But it is infrequently a smooth nor painless process...Continue Reading

 

Cracking the code on supply and demand

Posted by Jerry O’Dwyer, Principal, Deloitte Consulting LLP

Over the course of the past year, I have found myself having more and more conversations around the use of analytics in a company’s supply chain. What strikes me about this is that using data in the supply chain isn’t new – it is different. The logistical models that worked for the U.S. military during World War II are still valid, but we’ve come a long way...Continue Reading

 

The art of the possible

Posted by JR Reagan, Principal, Deloitte & Touche LLP

Business has changed, and there’s no going back. Big data is the catalyst, and businesses have to deal with it. Now. It’s not enough anymore to plug numbers into a spreadsheet or a BI tool. To understand and leverage the flood of data coming in, there’s a critical need to see it; see what it means; what it can do. In short, you need to use big data to see the art of the possible...Continue Reading

 

Use analytics to pull the pricing lever

Posted by John Norkus, Principal, Deloitte Consulting LLP

Price management initiatives have been shown to help companies increase their margins by 2 to 7 percent within a year, producing a 200 to 350 percent return on investment . So why is pricing so far down the list of options for organizations looking to improve performance?...Continue Reading

 

On-demand risk analytics: A new generation

Posted by Vivek Katyal, Principal, Deloitte & Touche LLP

It’s a well-known cliché that you can’t manage risk if you can’t measure, analyze and forecast it. Yet, very few organizations know—at any instant—what their risk exposure is. In today’s highly regulated environment and volatile economic times, companies struggle to produce the reporting and analysis needed to comply with regulatory standards...Continue Reading

 

Do you need data scientists?

Posted by Tom Davenport, Independent Senior Advisor to Deloitte Analytics

I’ve recently been doing research on the rise of the data science function and the data scientist role within organizations. To say the least, it has been fascinating to talk to people who are intimately involved in the management of big data within their firms. In general, I have found that they are hybrids of data management specialists and quantitative analysts...Continue Reading

 

Increase your project success rate

Posted by Neil White, Principal, Deloitte & Touche LLP

Organizations are increasing the success rate of complex projects by better predicting project performance. How? Predictive Project Analytics (PPA). Although they are a strategic imperative, major capital investments bring new risk and costs to the business...Continue Reading

 

Raise your pricing IQ

Posted by Ranjit Singh, Principal, Deloitte Consulting LLP

Many businesses have trouble measuring their pricing IQ. They can't identify which products are performing well and which aren't. While a high pricing IQ lets businesses take the next step toward wealth creation, low economic intelligence leaves them hard pressed to make choices, design plans or make strategic decisions....Continue Reading

 

Next best offers – the “new” old school

Posted by John Lucker, Principal, Deloitte Consulting LLP

In a recent Harvard Business Review article* that I co-authored with Tom Davenport and Leandro Dalle Mulle, we considered the idea behind retailers developing strong strategies around “next best offers”. Gone are the days when a familiar salesperson could help you find just what you wanted – simply because she knew your preferences and tastes...Continue Reading

 

The trail of digital exhaust

Posted by JR Reagan, Principal, Deloitte & Touche LLP

Do you ever wonder about the trail of digital information you are leaving behind every time you go online – your “digital exhaust”? This social data is powerful, not only from an individual perspective but from a big business one. More and more, I find myself in conversations with clients around the importance, power and challenges of this digital exhaust...Continue Reading

 

Moneyball inspiration

Posted by Jane Griffin, Principal, Deloitte Consulting LLP, and US Deloitte Analytics Leader

On a recent trip to Singapore, I had the pleasure of joining some colleagues and clients for a private screening of the movie “Moneyball.” While I’m very familiar with the story, which is well known in and outside of the analytics world, I was excited to see how it was conveyed on the big screen -- and the great cast didn’t hurt either...Continue Reading

 

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As used in this document, "Deloitte" means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

Copyright © 2012 Deloitte Development LLC. All rights reserved.
Member of Deloitte Touche Tohmatsu Limited

This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.

3 Deloitte conducted a LinkedIn poll survey from November 29, 2012 to January 4, 2013 of CXO, VP, director-, and manager-level employees at companies with more than 5,000 employees, across numerous sectors.

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