Data and Analytics In The Digital Age
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This document summarizes a presentation by PwC on data and analytics in the digital age. PwC consists of data professionals who help clients leverage their data and manage risks. Recent projects include analyzing payroll, designing websites, and building systems to visualize customer orders. The presentation covers how digital transformation allows companies to use analytics to stay competitive. It also demonstrates a data visualization tool to support digital transformations.
Data and Analytics In The Digital Age
- 1. Data and Analytics in the Digital Age Nigel Wright IT Directors Forum June 2016 www.pwc.co.uk
- 2. PwC Who we are • A team of data professionals from a variety of backgrounds who help our clients better leverage there data and manage their risks around it • We split our time between performing analytics to support external audit clients and performing data work for other clients • Recent project work includes: • Performing analysis to ensure that our client’s employees are being paid correctly • Designing a website for a student accommodation provider • Building a system to visualise customer orders • Verifying that the balance on a customer’s loan is calculated correctly • Modelling a more precise risk weighting for a customer within the gaming industry
- 3. PwC Agenda This presentation will provide insights into data and analytics in the digital age. We will cover: • How companies are evolving the way that they operate and using analytics to stay ahead of competition. • What it means to be a truly digital organisation. • Do a Live demonstration of a tool to support with a digital transformation.
- 4. PwC What is Digital? Revolutionising ways of operating through embracing modern technology to support Social - A digital business uses social to interact with customers, both proactively and responsively. Mobile –For a business, mobile enabling the workforce makes them better connected and more efficient. For the consumer, it allows a business anytime access in a non- intrusive and non-interruptive way. It allows consumers to get on with their lives, and easily blend in aspects of their digital lives. Analytics and Big Data – Businesses use analytics in the discovery and communication of meaningful patterns in data. They use ‘Big Data’ to understand behaviour through statistical analysis of clumps of data, both structured and unstructured. Cloud - Outsourcing IT functions to the cloud, whether just computer power, or functionality on an Software as a Service (SaaS) basis.
- 5. PwC A digital journey discussion We assisted one client on their digital journey. They are a manufacturing client who were losing market share. In order to regain this, they needed to understand exactly where this was being eroded. They operated in a traditional manner; orders were placed over the phone and manually keyed in. They had poor data quality which was preventing a single view of a customer. We helped them to cleanse their customer data and build a process to keep their data clean. We created a single customer view and built a data mart containing all relevant data. We used a visualisation tool to provide insights from their data and help them ask and answer business critical questions to regain market share.
- 6. PwC Mobile
- 7. PwC The same event – 8 years apart…what is it?
- 8. PwC The great opportunity • There are now 8 billion mobile devices globally • Most people are connected for at least 4 hours a day • Mobile is an untapped opportunity for many businesses • PwC conducted a survey of over a thousand mobile users in China, the US and the UK
- 9. PwC Mobile has become the primary channel for how consumers access and engage with the internet 50 118 233 303 356 420 500 24% 40% 61% 66% 69% 75% 81% 0% 20% 40% 60% 80% 0 100 200 300 400 500 600 2007 2008 2009 2010 2011 2012 2013 Mobile in China; connecting 450m netizens Number of mobile internet users in China, % of internet access of mobile (2007 – 2013) More smartphones than the entire population of the United States Total base of smartphones in China (2011 – 2017) 209 382 416 466 509 549 592 2011 2012 2013 2014 2015 2016 2017 41% CAGR 8% CAGR Source: CNNIC (2013) , emarketer(2013)
- 10. PwC App downloading is on the rise 42 36 23 20 China Brazil United Kingdom United States 0 10 20 30 40 50 60 70 80 90 80% 55% 54% Content value Frequency of use Differentiation from free Chinese download more apps. than anywhere else in our cross-country survey… Number of apps. downloaded in the last 12 months …but 89% of those are free. Of the 11% that were paid, content value was the main driver Willingness to pay depends on (%) Source: PwC "Mobile advertising in China: What do Chinese consumers want and how should businesses be engaging with them?" (2014)
- 11. PwC UK 28% US 30% China 58% UK 27% US 26% China 59% Willingness to share personal data for a free app? PwC “Mobile advertising: What do Chinese consumers want” (2014) Willingness to share personal data for fewer adds? Consumers are willing to share their personal data if they receive something of value in return Source: PwC "Mobile advertising in China: What do Chinese consumers want and how should businesses be engaging with them?" (2014)
- 12. PwC Cloud and Cloud BI
- 13. PwC What is Cloud BI? Applications hosted on a network that enable businesses to obtain the most value out of the information at hand
- 14. PwC 2014 Gartner Survey “In each of the last four years, around 30% of respondents to a Gartner survey said they'd run their mission-critical BI in the cloud. This year, however, nearly half - 45% - said they would adopt cloud BI.”
- 15. PwC The Cloud and Business Intelligence fit Business Intelligence Enabling the user to have access to the information they need, when they need it Cloud computing Providing a lightweight, agile way for the business to access their information
- 16. PwC Social
- 17. PwC Social media risk on a page Risk Factors Financial Operational Regulatory / Compliance Information Security • Companies face several financial risks associated with a breach: • DPA – Fines • Stock price decline • Crisis management / Remediation efforts • Lack of good governance leading to: • Reduced employee productivity • Increased process complexity • Loss of competitive advantage • Disruption of business activities • Insufficient moderation leading to poor content • Enforcement actions from government – EU regulation • Compliance with self-regulatory frameworks (i.e. US-EU Safe Harbor, TRUSTe) • Data retention / personal data off-shore • Employee misuse / inappropriate communications • Negative impact to the brand • Loss of employee, customer and / or investor confidence Reputational • Access controls • External threats • Careless employees • Data classification and governance • Sharing of confidential information • Use of offshore organisations and 3rd parties
- 18. PwC The Associated Press gets hacked…
- 20. PwC The Guardian also gets hacked…
- 21. PwC Risk…Engaging on Social Media JP Morgan Twitter Chat
- 30. PwC Analytics and Big Data
- 31. PwC Data is growing at an exponential rate ... From diverse and complex sources VolumeofData Time 500 million tweets per day 73 item sales per second 5 billion searches per day 100 hours of video added per minute 40 TB of data generated every second
- 32. PwC Big Data can be Used to Provide a Significant Commercial Advantage Pricing Strategies Operational Performance Customer Insight and Sentiment Demand Planning Optimisation Competitor Insight Staff and Resource Optimisation
- 33. PwC Some Key Questions Exist for Management Analytics Descriptive – What happened? Predictive – What could happen? Prescriptive – What should we do? Business Value Data Internal / External Data Accuracy
- 35. This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers LLP, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. © 2015 PricewaterhouseCoopers LLP. All rights reserved. In this document, "PwC" refers to the UK member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. Dave Williams T: 07734 959115 E: dave.g.williams@uk.pwc.com Cathy Nockles T: 07730 147787 E: dave.g.williams@uk.pwc.com