Elizabeth Elhassani – Director, Enterprise Analytics & Insights, LexisNexis at MLconf ATL
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02-Dec-2014Category
Technology
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Bring Analytics to Life with Passionate Business Uptake Big Data is an effective tool to stem attrition and many other important challenges companies face. In this session, I will share with you a case study of how LexisNexis Risk Solutions has been an industry leader by integrating predictive analytics throughout our organization from ideation through passionate uptake so that we can understand, anticipate and stymie attrition very early on in the customer lifecycle. During this session, I will explain how you can harness the power of analytics internally at your company, communicate the impact it will have on your business, operationalize it for end users, and create 100 percent buy-in and uptake by senior executives, finance, HR, customer service, sales, marketers and many other departments. In addition, I will talk with you about how we regularly use data mining and predictive analytics to make intelligent business decisions that drive real-time, bottom-line-impacting results.
Transcript of Elizabeth Elhassani – Director, Enterprise Analytics & Insights, LexisNexis at MLconf ATL
- 1. Bring Analytics to Life with Passionate Business UptakeElizabeth Elhassani
2. The Challenge and ProblemChallenge: Create a culture ofanalyticsThe Problem: How do I create interestand 100% uptake of predictiveanalytics, big data, businessintelligence, etc. in our business or withour clients?We hold the keys to business growth2 3. 5 keys to create a culture of analytics:31. Figure out implementation 1st2. C-suite support3. Suck it up and sell4. Tie results to revenue5. Communicate, communicate,communicate 4. Algorithmhoused inHPCCHPCC HPCC (High PerformanceAccounts likelyto attriteflaggedAlerts sentto SalesSales recordsoutcomeFed back intoSales receivesalerts indashboard (OBIEE)Computing Cluster) is amassive parallel-processingcomputingplatform that solves BigData problemsOpen Source:www.hpccsystems.comFigure out implementation 1st 5. Figure out implementation 1st 6. Get C-suite support for major initiativesGet a sponsor as high up the foodchain as you canWhy is this important?Other initiatives will trump your effortsResources will shiftFocus will shiftA strong voice removes roadblocks 7. Suck it up, you have to sellWhy? The business, clients, executives, etc. dont knowwhat they dont know Learn the business Speak in their language not yours If you completed an initiative in one business unit, demo itin another Show mock-ups of delivery pieces Never overpromise they will lose faith 8. Tie results to revenue852% drop6%12%Attrition Rate(# of accounts)Actioned ControlTIE TO REVENUEIf the ACTIONED populationhad attrited at the rate of theCONTROL populationWe would have lost$131k, rather than the$93k of actual attrition Result: $40k ofannualizedincremental revenue 9. Communicate, communicate, communicate Do a roadshow. Share results up the food chain and acrossbusiness units. Send email updates so it is not forgotten Jump into other team meetings Request announcements be put into newsletters Communicate frequently and consistently 10. Review: 5 keys to create a culture of analytics101. Figure out implementation 1st2. C-suite support3. Suck it up and sell4. Tie results to revenue5. Communicate, communicate,communicate
