The new business imperative to execute real-time data analysis of massive amounts of information is leaving some companies and organization struggling to keep up.
In retail, for example, companies are processing data on global sales transactions and product performance; financial institutions and insurance companies are using real-time data analysis to enhance security and curb fraud; automotive manufacturers are analyzing vehicle performance and enhancing safety through advanced analytics.
As data collection platforms have evolved, internet- and network- related data is being generated at faster rates than ever, a trend that shows no signs of slowing. And as organizations generate more and more data in abundance, the burden shifts to sophisticated and smart data analysis platforms - companies can be rich in data and but poor in intelligence. It’s the incisive analysis of that "big data" that will lead to smarter decisions and clearer results.
Accenture Analytics—Cracking the Code
Thinking about data as an asset often requires a real mindset shift for most companies and organizations. For an enterprise to move from passive collector to active analyzer of data—and be truly data-driven—it must assemble the data analysis tools and talent to manage the data at speed and at scale. The following content will examine how the proper analysis of big data flows can generate true insights for organizations, both in the public and private sectors.
How can your enterprise harness business-critical information to make smart, strategic decisions? How can you tap into a wealth of knowledge, without a huge investment of time and money?
At Accenture Analytics, we work at the intersection of technology and business-helping our clients become insights-driven enterprises. The Accenture Insights Platform is fast, flexible and scalable-ready to transform performance in weeks, not years.
By drawing on pre-configured technologies and in-depth experience, the Accenture Insights Platform is designed for rapid mobilization. It gives you a complete turnkey solution, quickly and efficiently. Your organization becomes on its way to enlightening and empowering your people with always-on data.
Accenture Insights Platform hosts an advanced analytics applications portfolio, an integrated design, build, run environment enabling the agile development of industry and function-specific analytics solutions. The applications are flexible, easily tailored and agile, providing organizations with immediate access to the tools needed to make data-driven decisions and solve complex business issues.
Learn more about the Accenture Insights Platform
Michael Bridges, Managing Director of Global Business Intelligence, discusses the need for a holistic view of outcomes throughout the organization.
A New Wave of Data Analysis is transforming enterprises and organizations worldwide, says Jean-Luc Chatelain of Accenture Analytics.
Executives report big data delivering business outcomes for a wide spectrum of strategic corporate goals—from new revenue generation and new market development to enhancing the customer experience and improving enterprise-wide performance. Organizations regard big data as extremely important and central to their digital strategy.
To learn more about how organizations are using big data to transform their business today,
Download the Big Success with Big Data Report to discover how organizations are winning with big data.
DOWNLOAD THE REPORT [PDF]
From “Fostering a data-driven culture”
Economist Intelligence Unit, 2013
READ THE FULL REPORT HERE
Big Data Supply Chain
Big Success with Big Data Live Twitter Event
Thames Water is responsible for supplying public water and wastewater management for much of Greater London and the Thames Valley. By tapping the power of their data through Smart Grid analysis, the company was finally able to see all their operations in real-time and ultimately improve their overall performance.
Utilities like Thames Water face increasing pressure to improve customer service, strengthen resilience and deliver security of supply. Despite significant investments in data systems to support responsiveness, the utility couldn’t get out ahead of its information to make better, more informed decisions using advanced data analysis. The challenges of this intelligence lag were clear:
High operational costs to repair failures
High capital costs to build extra capacity
Increased risk of non-compliance and customer complaints
Having already made commitments to implement price reductions, how could Thames Water address these challenges and deliver the investments needed to improve today’s service and tomorrow’s resilience?
The Smart Grid project’s mission was the help Thames Water use data to provide efficient, high-quality customer service. Smart Grid helped create a single view of the company’s operating systems and assets, such as pipe and treatment facilities.
Analysis of the company’s big data enables more efficient water sourcing and remote asset monitoring. This intelligence helps the utility giant anticipate equipment failures and respond in near real-time to critical situations, such as leaks or adverse weather events.
The concept of intelligence-led policing is not new and many forces already make the most of proven techniques, such as hotspot and time series analysis. However, with the full integration of data analysis into police operations, important insights can be generated for the first time without the need for large teams of intelligence analysts.
Employing around 31,000 officers alongside 13,000 police staff and 2,600 Police Community Support Officers (PCSOs), the Metropolitan Police Service has a vision: To make London the safest major city in the world. In 2013, the Metropolitan Police Service engaged a pilot program to develop police solutions that involved analytics to fight gang crime in London.
According to Metropolitan Police Service figures, gangs were responsible for approximately 22 percent of serious violence, 17 percent of robberies, 50 percent of shooting incidents and 14 percent of rape in London in 2012.
By deploying predictive techniques to analyze the data they hold, the London Police could:
Guard against the escalation of particular events by predicting which events are most likely to escalate
Deploy personnel to where they are needed most, improving prevention capability and controlling costs
Conduct and focus new investigations more efficiently
Discover patterns in data that suggest areas for further investigation
Explore security threats by studying the people, events, locations and organizations involved
Conducted over a twenty-week period, the pilot program merged and assessed data from various crime reporting and criminal intelligence systems used by the Metropolitan Police Service from the period 2009 to 2012. The program further aimed to prove to the Metropolitan Police Service that predictive analytics could bring an unprecedented level of insight and intelligence that, once deployed, could help reduce gang-related crimes in the city.
The data and analytics journey is a cultural journey for your organization. For companies that decide to take that journey, the results can be compelling. From shrinking market share to expanding market share, from pricing pressures to enhanced cost and cash advantage, from customer defection to customer loyalty, from fraud and non-compliance to reduction of fraud and risk, and from fragmentation and complexity to speed-to-insights.
Data is the business of every single person in your company. Organizations that have embraced this change at every level report being very satisfied with the business outcomes of their journey.