Analytics for Strategy & Operations
Business analytics is the practice of transforming data into information that can be used to improve decision making and performance. In recent years, the term analytics conjured images of back-room number crunchers generating statistical reports for management review. While pockets of analytics innovation have existed within businesses for years, many forward-thinking organizations are now applying analytics holistically. By embedding analytics across the enterprise and empowering decision makers to use information to improve performance, companies can drive strategic decision making, better predict and proactively solve problems, and likely out-perform their competitors.
For Deloitte’s Strategy & Operations practice, analytics is a critical element in how we help organizations navigate the changing data landscape to solve their many pressing business challenges. We not only apply analytics strategically to help clients increase growth, assess new market entry, and manage costs, but also drill down to address tactical challenges—from what marketing approach can provide the leading results, to what supply base is appropriate for a given commodity.
Harness the power of analytics with the benefit of Deloitte’s deep industry and domain experience, and learn how we can help transform analytics from an academic science to an applied business tool that can improve top and bottom line performance.
|The CFOs role in moving from customer analytics insight to action
Discover the reasons why the CFO should be a major driver leading analytics efforts to generate more successful customer relationships.
Do something about it
For multinational manufacturers, the links between strategy, business activities, and enterprise value can be unclear. Can pricing analytics help?
“It’s Time”: A global supply chain video
A quick look at the potential benefits and applications of analytics to achieve supply chain agility, speed, risk, and resiliency.
The promise of advanced supply chain analytics
In this article, published in Supply Chain Management Review, Deloitte Consulting LLP’s Jerry O’Dwyer, principal and Ryan Renner, senior manager, explain the viability of advanced supply chain analytics.
Tap into the power of analytics
New ways of applying supply chain analytics can lead to dramatically higher levels of performance.
To address these challenges more fully, we have embedded analytics within our own insights and methodologies. Our embedded approach to analytics informs – and can transform – how we work with clients to help them achieve and add value across industries and domains:
Featured industries and domains
- Finance: CFOs may gain improved visibility and transparency into the organization allowing them to better manage and measure performance and risk through improved finance controllership and corporate governance.
- Supply Chain: Operations may become more nimble, enabling organizations to better anticipate and respond to changing requirements in product development, planning, sourcing, manufacturing, and delivery.
- Customer: A better understanding of customers and markets may result in a better connection with and influence of the end customer and more effective management of marketing, sales, and customer service functions.
- Risk: Improved visibility into many types of systemic risk – from market risk and credit risk to reputational, operational, and cyber risk – may allow for more effective risk management.
- Workforce: Human capital continues to become a differentiating strategic asset as businesses improve workforce planning and forecasting, shorten recruiting cycles, and improve the retention of critical talent.
Several trends are shaping the ways in which businesses interact with customers, employees, partners, and suppliers. The application of analytics is significant in realizing these new opportunities and is being driven by evolving advancements, such as:
- Proliferation of Data: Organizations have access to a rapidly growing variety of data sources to inform business decisions.
- Democratization of Data: An increase in public data sources, such as social media, offer new insights into customer behavior.
- Affordable Storage: The cost of storage for a megabyte of data dropped 100x from 2000 to 2008i, allowing businesses to capture and analyze more data than ever.
- Surge in Global Connectivity: A surge in Internet use, with nearly 2.5 billion connected users driving tremendous amounts of data both on the consumer and business sideii.
- Better Analysis Tools: New tools make data analysis faster and more effective.
- Faster Processing: Computer processing power has increased 256x since 2000iii, making rapid and complex analysis possible.
- Improved Visualization: Advanced visualization techniques allow for the detection of patterns in vast volumes of data.
iEMC2, "World's Data More Than Doubling Every Two Years—Driving Big Data Opportunity, New IT Roles";
iiInternet World Stats (www.internetworldstats.com), "And the Global Village became a Reality," June 30, 2012
iiiWhat's Next: Top Trends, "Cost of data storage";
To take advantage of these advancements through the power of analytics, we help develop and provide data-driven answers for organizations’ toughest issues. We leverage more than 40 strategic relationships with software providers in analytical modeling, visualization, and data management along with our own experienced analysts and high-level analytics capabilities to help solve both targeted and cross-functional challenges. Other Deloitte analytics capabilities include:
- The Deloitte Visualization Studio, powered by the HIVE (Highly Immersive Visual Environment) is an interactive, high-touch, physical space that enables clients to test and visualize their data. The HIVE is designed to get business leaders get up to speed on what analytics can provide through experience tours, ideation workshops, guided data interactions, and advanced visualization.
- Deloitte's Analytics Center of Expertise (CoE) brings together a community of highly-skilled analysts to support executive decision-making through visualization techniques, suggesting the exploration of data and rapid development of solution offerings. We combine an organization’s information with external, third-party data to enrich the resulting insight and help them turn their historical knowledge into predictive insight.
- World-class visualization and signal detection capabilities help identify trends in an organization’s data to gain a deeper understanding of the information they have - and how to apply that knowledge.