Turning Insights into Action Data Analytics and Organisational Strategy November 2017 Describe EY’s current Data Transformation Journey Professional Services is being disrupted in a significant way Our clients are demanding more value for our fees beyond compliance to real value (you know us, help us!) Data driven Audit, Data driven Tax, Data drive Risk Assurance and importantly data driven transformation (Finance, Supply Chain, Customer) Talk to our data driven agenda, through to data provision I suspect my fellow Technology vendor partners (IBM, Accenture, Etc) here presenting today share in our pain.

A common question I get asked by business leaders - why can’t I see it? Prescribe next best action Operationalized insight Predict what will happen next Semi-operational insight Explore and analyze data insights Management insight Develop trusted insights Executive insight Build a data foundation The human element Consuming and actioning the insights from data and advanced analytics Technical capability Producing insights through data and analytics Augmenting human intelligence with cognitive Automated insight (artificial intelligence) Despite significant investments, organizations still struggle to realize value. Refer to the First Forbes report Our 2016 POV: The ‘Human Element’ of Analytics - Technical capability often exceeds behavioural alignment There is a lot going on in the data and analytics domain: Compliance to Insight to Prediction to Augmenting human intelligence with Cognitive Getting the balance right between the Human Element and Technical Capability To succeed, companies must focus on the human element to bridge the gap and go from insights to action to value

What I hear business leaders asking for from data - move me from insights to actions to value Our latest 2017 Forbes Survey Report suggests - Leading firms achieve significant lift in Revenue, Operating Margin and Risk Improvement So what are Leading companies doing that is different from lagging companies?

So what separates the Leaders from the rest? Findings from the 2017 Forbes survey… Key findings and recommendations by synapse Follow the process of data and analytics as it aligns to the strategy through implementation to outcome. For data and analytics success - mind the gaps Competitive Differentiation Operating Model Initiative Design Intervention Design Measurement and Learning Its not rocket science. Treat data and analytics capability as a process and you’re on yor way to success What does the surevy tell us about Leaders in each of the gaps?

…mind the gaps Competitive differentiation Defining the role that analytics play in strategy and business models Operating Model Building the underlying models and org structure that govern analytics activities Initiatives design Defining the specific activities/projects to achieve desired business outcomes Intervention design Translating the goals, models and methods into action by imbedding analytics into business operations Measurement and learning Quantifying and learning from data-driven business outcomes

Case Study People’s Choice - recognise the need to step up the maturity …the key levers of success A well formed Analytics Strategy Agile approach Value and outcome driven Accelerate outcome achievement The human element Future proof existing investments How People’s Choice set themselves on the path to becoming a Leader in their market through Data and Analytics Their mantra used to be ‘stick it to the big 4 banks’ but they realised that they could never compete on that basis so they turned their attention to their greatest asset - leverage the strength of their members and treat them how they want to be treated on a personal 1-to-1 basis. But how do you get to know over 1M members on a one to one basis? Use the data you have in your business! There was born the Data Leverage Strategy for People’s Choice.

To find out more… The research report “High stakes, high rewards” expands on findings from the 2015/2016 report “Don’t forget the human element of analytics” The survey digs deeper into the analytics life cycle that organizations use to drive value Leaders are leveraging the “human element” to differentiate in delivering value and driving transformational change Common pain points for others: Culture and leadership Organizational and process design Learning and development; skills Rewards and incentives

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