David Kiron - Keynote on Unmasking Analytical Innovators

Report
Unmasking Analytical
Innovators
David Kiron
Executive Editor, Big Ideas Initiative
MIT Sloan Management Review
MIT SMR Big Ideas Initiative
SUST
D&A
SB
2014 D&A Research Report, out today
• In partnership with
SAS Institute
• Survey of 2,037
professionals
• Interviewed 30+
executives across
many sectors
sloanreview.mit.edu/analytics2014
KEY FINDING
Analytics has become
a common path
to value.
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
Tyler Spalding
CEO StyleSeek & MIT Alum
Goal: Disrupt retail industry
styleseek.com
styleseek.com
styleseek.com
Who Succeeds?
The Importance of Culture
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
Components of an Analytics Culture
Analytical Innovators
5 Hallmarks of
Success
1. Be Open to New Ideas
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
2. Treat Data as a Core Asset
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
3. Senior Management Pressure
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
4. Use Analytics to Guide Strategy
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
5. Analytics Changes Operations
Data excerpted from the 2014 Data & Analytics Global Executive Study and Research Project by MIT SMR, in partnership with SAS.
Read the full report at sloanreview.mit.edu/analytics2014
5 Hallmarks of Success
1. Be open to new ideas that challenge current
practice.
2. View data as a core asset.
3. Senior management drives the organization to
become more data-driven and analytical.
4. Use analytical insights to guide strategy.
5. Let analytics help change the way you do
business.
Entravision
MIT SMR Case Study
sloanreview.mit.edu/luminar-insights
Entravision Communications
• US-based Latino media
conglomerate
• Reach: 93% of US Latino
population
• Latino population buying
power: trillions of dollars
• Industry in transition
• Ad Agencies more
powerful/New media
distribution
channels/consumer
viewing habits shifting
Franklin Rios
President of Luminar, a
business unit w/in Entravision
Invest in Big Data
• 3000 data points
• 200 sources
• Consumption data, not
survey
• Data Scientists from
Mexico
• Real insights into Latino
buying patterns
sloanreview.mit.edu/
luminar-insights
Figure excerpted from “Luminar Insights: A Strategic Use of Analytics,” a case study by MIT SMR, made possible by SAS.
Read the full case study at sloanreview.mit.edu/projects/luminar-insights/
1. Is my organization open to
new ideas that challenge
current practice?
2. Does my organization
view data as a core asset?
3. Is senior management
driving the organization to
become more data-driven
and analytical?
4. Is my organization using
analytical insights for
strategy?
5. Are we willing to let
analytics help change the
way we do business?
FINAL THOUGHT
Data is evidence, not
truth
Thank you.
sloanreview.mit.edu/data-analytics
WellPoint
MIT SMR Case Study
sloanreview.mit.edu/wellpoint2014
Jill Hummel
Vice President of Payment
Innovation, WellPoint
WellPoint
• 34 million members
• 1 in 9 Americans
• 1 billion transactions
• 14 states
• Strategic need to
reduce costs, improve
health outcomes
sloanreview.mit.edu/
wellpoint2014
WellPoint’s Five Reports
1. List of the physician’s total patient population
2. List of patients with gaps in care
3. List of patients visiting the emergency room
4. List of patients admitted to the hospital,
highlighting those at high risk for readmission
5. List of high-risk patients to focus on with
actionable information about their risk drivers

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