Implementing an Analytics Capability in a Business Context
Using data to solve business problems is not new. What’s new is the growing exhaust of data, methodology and technology available to take advantage of its promise. The era of Big Data, Advanced Analytics, and now AI over the last 10 years, has spawned a vast array of new applications for business leaders to measure, enhance, and drive performance in their organizations. The challenge for those new to the game is, where to start?
Investments in building an analytics program/function within an organization will fail if care is not taken to understand why it matters and where in your business that you can show value quickly. Science experiments will just not do!
In this talk, we will explore the five key building blocks of Analytics Capability and Maturity. Through the use of a series real use cases, we will identify where businesses still struggle to take advantage of this new capability and why. Finally, we will look at some future trends coming in the analytics world.
Tom Peters is a Partner in the Customer Insights & Analytics practice of Deloitte LLP in Toronto. He is an experienced professional and subject matter expert in the customer analytics and marketing sciences field and is also a subject matter expert in the application of multivariate statistical methods for segmentation, consumer demand modelling, new product introduction, pricing analytics, and marketing performance measurement.
Tom’s focus is helping his clients turn analytic and statistical modeling results into insight for the client. He advises on how to apply analytic insights to drive market share through new customer acquisition, boost retention rates (reduce churn rates), grow share of wallet, and increase profit margins through a more scientific approach to pricing and cost efficiency.
Tom received his MA and Ph.D. in Economics and Econometrics from University of Western Ontario in 1986. Joined Deloitte in 2012 as one of the analytics practice leaders and now advises clients on their analytics strategy and program development as well as helping clients use analytics to address profitable revenue growth challenges. Experience in financial services, telecommunications, travel/tourism, food services (QSR), retail, agriculture and agribusiness, automotive, power utilities, transportation, and technology sectors.
Tom Peters, Implementing an Analytics Capability in a Business Context