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Unmasking Analytical Innovators David Kiron Executive Editor, Big Ideas Initiative MIT Sloan Management Review.

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Presentation on theme: "Unmasking Analytical Innovators David Kiron Executive Editor, Big Ideas Initiative MIT Sloan Management Review."— Presentation transcript:

1 Unmasking Analytical Innovators David Kiron Executive Editor, Big Ideas Initiative MIT Sloan Management Review

2 SUST D&A SB MIT SMR Big Ideas Initiative

3 2014 D&A Research Report, out today In partnership with SAS Institute Survey of 2,037 professionals Interviewed 30+ executives across many sectors sloanreview.mit.edu/analytics2014

4 KEY FINDING Analytics has become a common path to value.

5 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014

6 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014

7 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014

8 Tyler Spalding CEO StyleSeek & MIT Alum Goal: Disrupt retail industry

9 styleseek.com

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12 Who Succeeds?

13 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014 The Importance of Culture

14 Components of an Analytics Culture

15 Analytical Innovators

16 5 Hallmarks of Success

17 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014 1. Be Open to New Ideas

18 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014 2. Treat Data as a Core Asset

19 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014 3. Senior Management Pressure

20 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014 4. Use Analytics to Guide Strategy

21 Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS. Read the full report at sloanreview.mit.edu/analytics2014 5. Analytics Changes Operations

22 5 Hallmarks of Success 1.Be open to new ideas that challenge current practice. 2.View data as a core asset. 3.Senior management drives the organization to become more data-driven and analytical. 4.Use analytical insights to guide strategy. 5.Let analytics help change the way you do business.

23 Entravision MIT SMR Case Study sloanreview.mit.edu/luminar-insights

24 Entravision Communications US-based Latino media conglomerate Reach: 93% of US Latino population Latino population buying power: trillions of dollars Industry in transition Ad Agencies more powerful/New media distribution channels/consumer viewing habits shifting

25 Franklin Rios President of Luminar, a business unit w/in Entravision

26 Invest in Big Data 3000 data points 200 sources Consumption data, not survey Data Scientists from Mexico Real insights into Latino buying patterns sloanreview.mit.edu/ luminar-insights

27 Figure excerpted from “Luminar Insights: A Strategic Use of Analytics,” a case study by MIT SMR, made possible by SAS. Read the full case study at sloanreview.mit.edu/projects/luminar-insights/

28 1. Is my organization open to new ideas that challenge current practice?

29 2. Does my organization view data as a core asset?

30 3. Is senior management driving the organization to become more data-driven and analytical?

31 4. Is my organization using analytical insights for strategy?

32 5. Are we willing to let analytics help change the way we do business?

33 FINAL THOUGHT Data is evidence, not truth

34 sloanreview.mit.edu/data-analytics Thank you.

35 WellPoint MIT SMR Case Study sloanreview.mit.edu/wellpoint2014

36 Jill Hummel Vice President of Payment Innovation, WellPoint

37 WellPoint 34 million members 1 in 9 Americans 1 billion transactions 14 states Strategic need to reduce costs, improve health outcomes sloanreview.mit.edu/ wellpoint2014

38 WellPoint’s Five Reports 1.List of the physician’s total patient population 2.List of patients with gaps in care 3.List of patients visiting the emergency room 4.List of patients admitted to the hospital, highlighting those at high risk for readmission 5.List of high-risk patients to focus on with actionable information about their risk drivers


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