Research

2017 Analytics Symposium - Chicago Summary and Recordings

By Jack Phillips, Oct 31, 2017

Available to Research & Advisory Network Clients Only

Earlier this month, IIA held its 8th Analytics Symposium and awarded the 2017 ANNY Excellence in Analytics Award to Cisco Systems in a packed house at the Gleacher Center in Chicago. Read the key themes of the event and watch the session recordings on demand.

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Reinvention in the Age of Analytics - A Decade’s Worth of Insights

By Thomas H. Davenport, Oct 31, 2017

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2017 Analytics Symposium - Chicago Session Recording

Tom Davenport and Jeanne Harris discuss what’s changed since their seminal book, Competing on Analytics, was published 10 years ago and what do leaders need to do to stay ahead of the game in the next decade.

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The Road to Optimization

Oct 31, 2017

Available to Research & Advisory Network Clients Only

2017 Analytics Symposium - Chicago Session Recording

UPS has gone through a long evolution in moving up the analytical hierarchy which required organizational commitment and significant process change. UPS has seen a reduction of 185 million miles driven per year by integrating analytics within its operations’ systems. Its award-winning dispatch optimization tool ORION (On Road Integrated Optimization and Navigation) completed deployment in 2016 and is saving $300M to $400M annually. Jack Levis shares his experiences and best practices to compete with analytics, requiring organizational support in the form of data, tools, and senior management commitment.

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It’s Not About the Algorithm

Oct 31, 2017

Available to Research & Advisory Network Clients Only

2017 Analytics Symposium - Chicago Session Recording

Morgan Stanley’s Jeff McMillan discusses the opportunities and challenges that businesses face in trying to leverage data, analytics and the emerging capabilities of artificial intelligence to achieve real and sustainable business transformation. He shares his experiences on where and how companies need to think and act differently and where traditional approaches to business management still matter (a lot). And most importantly, he talks of the practical realties of building smarter organizations that combine the best of analytical practices with the deep knowledge and experience of each individual to promote an environment in which the best decisions are made each day.

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How Analytics is Transforming Financial Services

By David Alles, Oct 25, 2017

Available to Research & Advisory Network Clients Only

IIA asked survey respondents in four segments (wealth management, US banks, Canadian banks, and credit unions) questions about their use of analytics in six customer engagement areas (customer experience, customer facing employees, web, mobile, social, and ROI). Results highlight why traditional financial services are vulnerable to disruption. Digital native companies universally excel at using analytics in these areas. However, even across leading financial services companies we see lagging adoption – especially in web, mobile, and social analytics. This is indicative of the analytics maturity gap between digital native companies and traditional companies and illustrates why traditional financial services companies have to accelerate analytics maturity to be more competitive. Based on the study findings, IIA’s faculty of top analytics practitioners and analysts then isolated key takeaways and developed recommendations for traditional companies in the financial industry to mature their analytics in effective, sustainable, and measurable ways

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Predictive Modeling at Cleveland Clinic

By Robert Morison, Sep 28, 2017

Available to Research & Advisory Network Clients Only

Headquartered in Cleveland, Ohio, Cleveland Clinic is a nonprofit, multi-specialty academic medical center that integrates clinical and hospital care with research and education. With more than 4,400 beds across the main campus and 10 regional hospitals, plus 18 full-service family health centers, Cleveland Clinic is one of the largest and most respected hospitals in the country.For the last five years, Cleveland Clinic has been deploying progressively more sophisticated and predictive analytics to address one of the organization’s core challenges – optimizing the utilization of operating rooms (OR). The ORs represent significant physical assets and a major source of operational cost. Their scheduling also includes surgeons and other physicians, nurses, anesthesia, and other support teams. That makes scheduling ORs very complex, especially at the main campus where 81 ORs form one of the largest surgery sites in the world. Appropriate utilization of ORs maximizes patient access to surgery and minimizes the direct and opportunity costs of downtime. When the organization is not able to forecast volume accurately and schedule appropriately, ORs get backed up or out of sync, and problems cascade down the line into the ICUs and hospital floors, with repercussions for hospital occupancy and patient throughput.

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Analytics Maturity Powers Company Performance

By David Alles, Sep 21, 2017

Available to Research & Advisory Network Clients Only

Does the development of enterprise analytics capability really drive superior company performance? IIA’s previous research briefs demonstrate that analytics maturity varies significantly between industries and across the top-performing companies in each industry. This follow on research brief uses IIA’s proprietary analytics maturity data – from leading companies like Amazon, Apple, Netflix and Google – and publically available financial and company data, to illustrate the positive association between analytics maturity and superior company performance.

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Inquiry Response: The Bridge Between Internal and External Reporting

By Adam Moore, Sep 11, 2017

Available to Research & Advisory Network Clients Only

Inquiry:

We have an external reporting tool with a certified process and strong governance. Separately, we have management reporting data and analytics data, and for analytics we are standing up a data lake from disparate sources. My challenge is around the external tool and management reporting data. Right now we bridge the management reporting back to the externally reported figures, but I don’t see a need for this tie because the purposes are different. However, senior management has an emotional commitment to the bridge, so I’m wondering if that bridge is really important and whether you are seeing companies diverting from the need to build a bridge.

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Driving Clinical and Operational Performance Through Analytics

By Jack Phillips, David Alles, Aug 02, 2017

Available to Research & Advisory Network Clients Only

As much as any industry today, healthcare sits at the intersection of both technological and societal change. Web, mobile, cloud, and data technologies are being applied to myriad patient-level applications to disrupt traditional patient care methods, and the very way that hospitals operate and compete. Emerging technologies leveraging the Internet of Things (IoT), particularly in the wearables category, will most certainly shift the role of care and wellness from provider to patient. Recent research from the International Institute for Analytics (IIA) has now quantified the significant gap in maturity between all healthcare segments and most other industries. But the research also reveals a discreet set of steps healthcare providers can follow to improve capabilities and move up the analytics maturity curve.

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Inquiry Response: Analytics Trends with an Eye on the Future

By Mark Madsen, Jul 24, 2017

Available to Research & Advisory Network Clients Only

Inquiry:

I lead the technology delivery team for the international business intelligence (BI) division. We’re trying to build a strategy to ensure that we’re at the leading edge with our data and that we can continue to achieve competitive advantage out of our data. We would like your take on where you see analytics going and general trends regarding capabilities that organizations are going to need going forward.

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