Data-Driven Innovation: 3 Ways to Create a New Level of Performance in Your Organisation

Data-Driven Innovation3 ways to create a new level of performance in your

organisation

June 2016Travis Barker – Consulting Partner

of 18Copyright ©2016, Stellar Consulting Group Limited. All rights reserved. NZ GOVT FINANCE FORUM – JUNE 2016

“Results are gained by exploiting opportunities, not by solving problems.”

Peter Drucker


“Innovation is change that creates a new dimension of performance.”

Peter Drucker

Data-Driven Innovation?


Sizing the OpportunityNZ is a laggard, but on the flip-side there’s plenty of opportunity

DATA DRIVEN INNOVATION IN NEW ZEALAND SAPERE RESEARCH GROUP & COVEC 2015


1. Business Process Optimization

2. Enhanced Customer Intimacy

3. Product & Service Innovation

At a Glance3 ways data-driven innovation is driving efficiency & growth


#1. Business Process OptimizationOpportunities for productivity gains and cost / risk mitigation

• Strategic Alignment

• Automation / Productivity Gains

• Business Continuity Risk Mitigation


Strategic AlignmentMeasuring & monitoring execution against strategic intent

Metrics (Ratios,

Comparatives)

Measures(Raw Data)

Goals & Objectives

Success Criteria

KPIs

Corporate Strategy

KPIs

BI Strategy

Execute

Exec

ute

StrategicDelivering Executive Scorecards & DashboardsMeasuring & monitoring execution against strategy

TacticalDelivering Departmental Dashboards & Summary ReportsMeasuring & monitoring operational performance

OperationalDelivering Detailed Line-Item ReportsMeasuring & monitoring individual business processes


#2. Enhanced Customer IntimacyOpportunities to engage deeper and build long-term value

• Customer Satisfaction & Loyalty

• Brand Advocacy

• Up-sell / Cross-sell


Brand Awareness & Cross-SellExample: Trustpower’s market defining multi-product strategy


Brand Awareness & Cross-SellExample: Trustpower’s market defining multi-product strategy

Trustpower Brand Awareness in Auckland


#3. Product & Service InnovationOpportunities to develop and improve market offerings

• Reduced Cost to Serve

• New & Improved Income Streams

• Open Government Collaboration


Open Government & Service Delivery Example: The role of data in Social Investment

Helping children at risk of poor outcomes

as young adults.


Open Government & Service Delivery Example: The role of data in Social Investment


CFOs are no longer only functional experts, but business experts. This means demand for CFOs to have an expanded skill set outside finance. This includes legal, commercial, and IT skills.”

Next Gen FinanceThe role of the CFO is changing

TRANSFORMING THE PUBLIC SECTOR | The role of the CFO in driving change: Grant Thornton ANZ Survey

“

CFOs are under increasing pressure to provide strategic insights that enable leadership and boards to make better, more informed decisions.

FINANCE 2020: Designing a Finance function to meet new demands: Deloitte Canada

“


Next Gen FinanceData-Driven Innovation is on the agenda


Next Gen FinanceWhat’s the immediate opportunity?

TRANSFORMING THE PUBLIC SECTOR | The role of the CFO in driving change: Grant Thornton ANZ Survey


Where to Next?Think big, start small, focus on outcomes

How Governments Can Get Technology Transformations Right; BCG Perspectives

Stellar Consulting GroupNew Zealand’s Business Intelligence Specialists

ContactFind us: stellarconsulting.co.nz

Follow us: @stellarbi

Thank YouTravis Barker – Consulting Partner

Data-Driven Innovation: 3 Ways to Create a New Level of Performance in Your Organisation

Data & Analytics

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