To Catch Lighting in a Bottle
Agility in Businesses of the Future
INF20016 Lecture 1
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To Catch Lighting in a Bottle
Agility in Businesses of the Future
INF20016 Lecture 1
NO.. . We are not going to talk about theweather Let ̭s talk about pushing the boundaries
Big Data in Use
What do You think the challenges of
the businesses are?
The immediate
Further in the
What is “Agility”? WHY?
(Oxford Advanced Learner’s Dictionaries, accessed July 2015)
Fast changing demands + shorter lead time leads to strained Business Agility, Performance, and Quality
Business Challenges
Business Agility
A Reference Model: Top Tier
Sense and Predict Respond Enforce and Comply Business Agility Capabilities Measure Enterprise Strategy and Planning Banking (^) Insurance (^) Health Care Telecom Others Order to Cash On-boarding Fulfillment Portfolio to Orders Fraud Detection Prod Lifecycle Management Campaign Management Account Reconciliation Customer Care Order Handling Claims Management Retail Customer Insight Risk Management Market & Offer Management Government Procurement to Pay Regulatory Compliance Provider & Supplier Mgmt … Business Use Cases Improved customer sat & retention Improved consistency Reduced operational costs Improved cross- business unit coord Better and faster opportunity id More successful promotions Maximized productivity Expanded market share Improved customer acquisition
(IBM, 2010) Business Agility Outcomes
Business Agility
A Reference Model: 2nd Tier
Business Agility Disciplines SCM ……. Business Process Optimization Foundation CRM HR PLM Finance Sense and Predict Respond Enforce and Comply Measur e Enterprise Strategy and Planning Bus Events Analytics Collaboration Process Content Bus Rules Information Monitoring Business Agility Enablers Business Functions and Outcomes Performance Management Complexity Management Risk Management Decision Management Case Management Compliance Management Business Efficiency Policy Management Governance Security Management (IBM, 2010)
Insight (a deeper understanding of the now) Foresight (to predict what is likely to happen)
Why do Businesses need Insights & Foresights?
The era of Data
Business Intelligence & Business Analytics
Each Stage = a Different Viewpoint
Foresight Insight Hindsight
Predicting the Future
Crystal Ball Gazing? Meet Zoltar
- Predicting the future is impossible. But we try… to make sense of
various data to produce multiple likely future-scenarios
- In a two outcome options, a guess will be correct 50% of the time.
- 100% accurate predictions are not generally possible.
- Increasing the percentage of how many times a prediction is correct is the
important measurement.
- Attempts are made to predict what will happen
- Based on either past events
- Based on knowledge about the participants
- A combination of both