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9
Disrupt or be disrupted
|
The survey results
indicate that
organizational and
cultural factors may be
driving leaders forward.
Among top performers,
advanced analytics
commonly is performed
throughout the
organization, including
within risk, marketing
and sales groups.
Advanced analytics
expertise and capabilities
are distributed, in other
words, with functional
leaders and groups
challenged and expected
to use analytical
insights.
See Figure
7.
Interestingly, the
creation of stand-alone
analytics centers of
excellence or centralized
functions appears to
lead to a false sense
of security. It seems
that leaders insist that
analytics is “everyone’s
job,” while laggards
assign the responsibility
to relatively few people.
Such a holistic and
broad-based approach
means leaders can
monetize insights at
industrial scale. This is
perhaps one reason why
leaders see more and
deeper value creation
opportunities than
laggards do. Again,
leaders see a role for
new data in everything,
from setting strategy to
modeling and managing
risk to marketing and
selling.
See Figure 8.
Further, they are more
open to partnering and
collaboration, better able
to act with agility in the
marketplace and better
at remaining relevant to
customers.
75%
28%
71%
27%
71%
27%
70%
25%
69%
23%
69%
21%
Market and sell
0%
20%
40%
60%
80%
100%
Differentiate
our value
Engage
customers
Model and
manage risk
Figure 8:
Where new data sources drive improvements
Leaders Laggards who agree
Set strategy Work with
others
7%
43%
28%
45%
30%
41%
28%
32%
22%
21%
12%
30%
22%
29%
23%
26%
20% 22%
13%
0%
10%
20%
30%
40%
50%
Figure 7:
Functions performing advanced analytics
(sorted high to low by differences)
Leaders Laggards
Centralized
analytics
team
Not
routinely
performed
Customer
service
Finance Information
technology
Research
and
development
Human
resources
Product
management
Pricing
or
underwriting
Claims
and
fraud
management
Distribution
orsales
Senior
management
team
Marketing Risk
management
37%
25%
16%
0%
34%
26%
28%
22%
24%