Using Data & Analytics to Grow your business · 3/2/2018 · KPMG has launched its Center of...

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©2018 KPMG Advisory Services Ltd., a Bahamian limited company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 1

Using Data & Analytics to Grow your businessInternational Business and Finance Summit (IBFS)March 2, 2018



Major themes:1. Share KPMG’s contribution to moving the dialogue of

“Digital” in The Bahamas forward

2. Define “digital” in the context of an actionable strategy for industry and private sector, and how it presents an opportunity to grow your business.

3. Use case study approach to introduce technology elements, so as to present clear opportunities: 1) Tourism analytics2) Insurance analytics3) Financial management



Session expectations

SHORT ON BUZZ WORDS

BLOCKCHAIN IS POWERFUL, BUT NOT A PANACEA TO ALL OF OUR PROBLEMS



1. KPMG’s contributionInternational Business and Finance Summit (IBFS)



1. KPMG’s contribution: 1) Lighthouse

The building blocksTechnology Layer Competency Layer

o Advanced technological innovations that facilitate solving some of the world’s most complex issues

o Skill set required to deploy digital tools in a way that is decipherable

Local Insighto Practical

understanding of public and private sector applications, in order to design and implement relevant solutions

Lighthouse is KPMG’s new advanced digital capability, which facilitates management efficiency and transformation of antiquated operating models, in the public and private sector

KPMG has launched its Center of Excellence - “Lighthouse” in The Bahamas



For example: required competency for proficient delivery of data & analytics

D&A Consultants▪ Strong business consulting acumen and statistical background, combined with real-

world experience in applying analytics to solve business issues.▪ Practical understanding of advanced analytics methods and big data software; client

solution expertise.

Data Scientists▪ Strong experience in analytics, statistics, data mining, machine learning, natural

language processing and/or mathematics.▪ Problem-solving ability through the use and/or development of algorithms, models,

testing, etc.▪ Generally MS or PhD-level math, statistics, or engineering.

Software / Data Engineers▪ Strong experience with large scale and/or distributed processing methodologies such

as Hadoop, Storm, Spark, and many others.▪ Sophisticated ability to rapidly ingest, transform and mine data.▪ Ability to evaluate, design, build, test and manage “big data” architectures

Visualization Specialists▪ Strong experience in designing visualizations to perform data discovery and highlight

insights.▪ Strong experience with visualization tools (Tableau, QlikView, JavaScript, etc.)▪ Knowledge of how specific visual components drive usability and understanding

Com

pete

ncy

Laye

r1. KPMG’s contribution: 2) Defined competencies



As a result, KPMG has partnered with the University of The Bahamas

Full academic scholarship Faculty Research Paid student internship

1. KPMG’s contribution: 3) Academic partnership



Ebonette Bain-MinnisData Scientist

KPMG Bahamas

Mandelia MorrisData Scientist

KPMG Bahamas

Albert WilsonVisualization Specialist

KPMG Bahamas

Success requires a local commitment to people

1. KPMG’s contribution: 4) Local talent development



2. Digital demystifiedWhat is a Digital Strategy

International Business and Finance Summit (IBFS)



2. Digital demystifiedDigital strategy

Data and Analytics (“D&A”)

Process Automation

“X” Tech(Fintech, etc.)

Delivery mediums(online, mobile, etc.)

Complexity level



2. Digital demystified

Management reporting

D&A enabled issue solutions

Operating model transformation

Converting traditional static reports to interactive dashboards that drive insights

Deriving insights from large and typically unmanageable sets of data

Reforming core business process using D&A and process automation

Digital strategy

Data and Analytics (“D&A”)

(1) Data and analytics

1 2 3



3. Case studiesInternational Business and Finance Summit (IBFS)




A PUBLIC SECTOR EXAMPLE FOR OUR NATION’S LARGEST BUSINESS

(2) Case A: Tourism Analytics by KPMG



2. Digital demystified• Using the arrival card data of a leading jurisdiction in the Caribbean • >2.7M records, analyzed over a 5-year period




2. Digital demystified(2) Case A: Tourism Analytics by KPMG



2. Digital demystified(1) Data and analytics

~75% >$5,000




o Data and analytics applied insightfully gives an opportunity to grow your business, by providing a fact driven basis for decision making





There are essentially four (4) processes involved in building a data and analytics platform from the ground-up, disrupting the traditional

software acquisition model

Key processes and related technology elements

Cleansing and organization

Data analysis

The complex case

OCR, ICR machine learned

D&A engine, R, Python

(Alteryx)

MS Power BI, otherVisualization and insight

Data hosting Azure

Data capture



2. Digital demystified(3) Case B: Insurance Claims Analytics

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Data &Analytics

Claim Analysis

Dynamic Pricing

Customer Optimization

Reserve Analytics

Business Model

Change

Process Automation

There is a broad range of disruption in insurance

Example




The time to enter the claim

The time to process the claim

6 mins, 7 seconds

3 seconds




Operating model transformation without claim optimization:

Claim Analysis

Medical o Suspicious activity detection based on patient and provider profiles

o Defining a model for the elective or optional (unnecessary) procedures

o Determine errors in care / lab / DI groupings

o Identifying patients at risk, and using D&A enabled tools to proactively address high risk (and cost) populations

Which public clinics had the best outcomes?

o Medical claims analysis meets TOURISM analytics




o Data and analytics gives an opportunity to interrogate claims in a manner beyond the capacity of your best claims analyst, with predictable accuracy levels




2. Digital demystified(3) Case C: Public Financial Management

CFO

Accounting(Controller)

Financial Planning &

Analysis

1) Traditionally, a financial function is structured in such a way that the controllership, did not necessary interact with advanced financial planning processes

2) As a result, the relevance of D&A to accounting was not properly put into perspective until recently

The great divide…

Policies / regs

Accruals

Lease acc’ting

CEO

G/L keeping

Revenue rec



2. Digital demystified(3) Case C: Public Financial Management

A parallel in Government

Financial Secretary or similar – i.e. CFO

Traditional Responsibilities

(Technical)

Planning

(Operational)

Debt raising

Treasury dept.

Loan Guarantee

Minister

Exemptions

Budgeting

Data & analytics

Conflict of interest examination (Fraud)

(Near) Real time and interactive view of revenue

collection

Payroll verification

Line-item detail at Ministry level for all expenditure

categories

PM MoF MinA

ctiv

e M

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o Data and analytics is a key tool in ushering in a new era of public sector financial reform




3. Next stepsTo be done in a proper and insightful way, the implementation of data & analytics requires local understanding, world class analytical talent, and a holistic approach

D&A Strategy

Information Management

Reporting and Visualization

Advanced Analytics

Cognitive Automation &

MachineLearning

Creating a vision for D&A that is aligned with business goals

Building trust in the data, how it is managed and stored, as well as confidence in reporting- Access- Security- Validation

Ensuring architecture is scalable, reliable and flexible to business change

Artificial Intelligence

Big Data Architecture

Technology stack

Making insights clear, interactive and actionable

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

© 2018 KPMG Advisory Services Ltd., a Bahamian limited company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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Using Data & Analytics to Grow your business · 3/2/2018 · KPMG has launched its Center of...

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