20160309_CeADAR Analytics Centre_Introduction_Edward McDonnell

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09/03/2016 1 what analytics can do for you: lessons from the CEOs [email protected] agenda 08:30-08:45 Welcome Dave Feenan, ISIN & Emer Cummins FIT 08:45-09:05 Setting the scene Edward McDonnell Centre Director CeADAR 09:05-09:25 Case study Maurice Lynch, CEO Nathean 09:25-09:35 How CeADAR works Mike Brosnan, Chair CeADAR 09:35-09:55 Case study David Harland, CEO & Tom Harper, Head of Analytics Omnicom Media Group 09:55-10:15 CeADAR’s analytics toolsets Edward McDonnell CeADAR 10:15-10:30 Q&A and networking setting the scene analytics? its promise the data scientist a new paradigm analytics? analytics (OED) the systematic computational analysis of data information resulting from the systematic analysis of data analytics (Wikipedia) analytics is the discovery and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance. Analytics often favours data visualisation to communicate insight. datafication of everything 90% of the world’s data was created in the last 2 years [IBM] social media e.g. tweets, blogs, emails … books, web sites, corporate and legal documents, … sensors in buildings, cars, utilities … videos, images, audio, … ‘smart cities’ and ‘smart spaces’ citizen data e.g. population health records, census data mobile phones e.g. call, data logs, GPS, … characteristics of big data The 4 ‘V’s of big data: Volume: huge amounts of data to be analysed Velocity: speed at which data is generated and consequently the speed at which it may need to be processed e.g. in real time Variety: data comes from a variety of disparate sources in structured (e.g. spreadsheets), unstructured (e.g. tweets) and semi-structured (a combination of both) formats Value: delivers business insight to deliver better business decisions There is also the potential challenge of the unknown veracity of the data

Transcript of 20160309_CeADAR Analytics Centre_Introduction_Edward McDonnell

09/03/2016

1

what analyticscan do for you:lessons from the CEOs

[email protected]

agenda

08:30-08:45Welcome

Dave Feenan, ISIN &Emer Cummins FIT

08:45-09:05 Setting the scene

Edward McDonnellCentre DirectorCeADAR

09:05-09:25Case study

Maurice Lynch, CEONathean

09:25-09:35How CeADAR works

Mike Brosnan, ChairCeADAR

09:35-09:55Case study

David Harland, CEO &Tom Harper, Head of Analytics

Omnicom Media Group

09:55-10:15 CeADAR’s analytics toolsets

Edward McDonnellCeADAR

10:15-10:30

Q&A and networking

setting the scene

analytics?

its promise

the data scientist

a new paradigm

analytics?analytics (OED)• the systematic computational analysis of data

• information resulting from the systematic analysis of data

analytics (Wikipedia)analytics is the discovery and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance. Analytics often favours data visualisation to communicate insight.

datafication of everything90% of the world’s data was created inthe last 2 years [IBM]

social media e.g. tweets, blogs, emails …

books, web sites, corporate and legal documents, …

sensors in buildings, cars, utilities …

videos, images, audio, …

‘smart cities’ and ‘smart spaces’

citizen data e.g. population health records, census data

mobile phones e.g. call, data logs, GPS, …

characteristics of big data

The 4 ‘V’s of big data:

Volume: huge amounts of data to be analysed

Velocity: speed at which data is generated and

consequently the speed at which it may need to

be processed e.g. in real time

Variety: data comes from a variety of disparate

sources in structured (e.g. spreadsheets),

unstructured (e.g. tweets) and

semi-structured (a combination of both) formats

Value: delivers business insight to deliver better

business decisions

There is also the potential challenge of the unknown

veracity of the data

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the promise of data analytics:hidden insights, greater objectivity and greater accuracy

Better decision-making, planning and forecasting driven by data not the HIPPO’s“gut instinct” (highest paid person in the organisation)

Better more personalised and sophisticated customer engagement

Improved productivity and better scheduling for more efficient organisations

Better fraud detection

Fidelity Internal Information

Source: IDC

Better product and service offerings

Increased customer satisfaction/loyalty

Increased customer revenue

Reduced customer support costs

Improve internal staffing and comms by

understanding better staff motivations, causes

of attrition and the benefits of training

analytics in the enterprise

the data scientist

Data science is an emerging discipline which brings with it scarcity and competition for top talent, high cost and inflated expectations

The data scientist must combine diverse skills:• An understanding of business

problems and business value

• Ability to identify, capture, process,

combine and analyse very large

distributed data sets

• A familiarity with complex

mathematics, statistics and

algorithmics

• Visualisation, creative flair and

communication skills to engage at the

executive level

Their current native habitat is in quantitative analysis in financial services and in engineering modelling and simulation

The ultimate goal is the democratisation of data science where easy-to-use tools bring sophisticated analytic techniques to the non-specialist (e.g. Google analytics)

CeADAR: centre for applied data analytics

CeADAR is amarket-led centre

focussed on thedevelopment and

deployment ofbig data analytics

technology and innovation for the

competitive advantage

of its member companies

CeADAR: bridging the gap

TRL 1 TRL 2 TRL 3 TRL 4 TRL 5 TRL 6 TRL 7 TRL 8 TRL 9

University CeADAR Enterprise

Basicprinciplesobserved

System proventhrough fullcommercialapplication

Technologyvalidated

in lab

Systemprototypedemo’ed

in operationalenvironment

• Basic research& technology creation

• Market push• Technology driven

Product developmentand commercialisation

• Application development& proof of concept

• Business-value driven• Market pull/need-driven

CeADAR’s market-defined themesrevising the DDN

‘beyond the

desktop’

ease of

interaction

changing user

behaviour

passive analytics

reduce data

management

effort

data validation

data curation

harnessing the

power of open

data

causation

challenge

social trending &

contextualisation

continuous

analytics

predictive

analytics

visualisatio

n &

analytic i/fs

advan

ced an

alytics

data m

anage

men

t

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our offerings agenda

08:30-08:45Welcome

Dave Feenan, ISIN &Emer Cummins FIT

08:45-09:05 Setting the scene

Edward McDonnellCentre DirectorCeADAR

09:05-09:25Case study

Maurice Lynch, CEONathean

09:25-09:35How CeADAR works

Mike Brosnan, ChairCeADAR

09:35-09:55Case study

David Harland, CEO &Tom Harper, Head of Analytics

Omnicom Media Group

09:55-10:15 CeADAR’s analytics toolsets

Edward McDonnellCeADAR

10:15-10:30

Q&A and networking