Insurance & data analytics summit workforce science final

Insurance & Data Analytics Summit Workforce Science Comes of Age:

Big Data - The Human Factor April 24, 2014 – New York

Presenters:

Pat Saporito, CPCU, International Institute for Analytics

Piyush Singh, CPCU, Great American Ins. Co.

© 2011 SAP AG. All rights reserved. 2

Big Data Evolution & Challenges

Creating An Analytic Culture

Analytic Roles & Skills

Conducting a Talent Audit & Talent Assessments

Practical Application for Human Capital Management

1990 2015 2000 2005 2010

ANALYTICS

(CIRCA 1980)

PREDICTIVE

ANALYTICS

(CIRCA 1980)

SEMANTICANALYTICS

(CIRCA 1980)

Analytics Trends:

Evolving towards Big Data

REAL TIME IN THE CLOUD

PERSONAL COMPUTER AND CLIENT SERVER

DATABASE

(CIRCA 1980)

WWW MOBILE

SOCIAL

B2B/

B2C

BIG DATA

REAL TIME

1,000,000+ SOLD

3,000,000 people had access to

Internet worldwide

More people have mobile phones than

electricity or safe drinking water

Facebook: 1 billion users; 600 mobile

users; more than 42 million pages and 9

million apps

YouTube: 4 billion views per day

Google+: 400 million registered users

Skype: 250 million monthly connected

users

Big Data Challenges

Staffing

and

skills

Data

Governance

Cost

Uncertainty

on Value of

Big Data

Unsure of the

Technology

Requirements

Connecting people to

information in the moment

they need it and in the

right experience (bridging

the gap)

Nucleus Research, Gartner, Fortune Magazine

Analytic Use Will Skyrocket: 2020 vs. 2014

10%

75%

Use Analytics

Today

Need

Analytics

by 2020

Ability to manage and

consume all data is

getting harder

Not utilizing all

the information

out there

Bottom Line: Not leveraging

the power of collective

insight

Missing new

insights

IT is not agile enough

and the business wants

to get involved

=


Biggest Barriers to Adoption


New Titles & Roles

Data Diva Data Savant

Data Super Hero

Chief Analytics Officer

Analytics Cave Man

Not everyone needs to be a

Data Scientist… but

everyone should be

analytically curious, have

an analytics mindset and be

looking to improve their

Analytic IQ!

Creating an Information Culture

Use information as a strategic

asset in decisions

Build and tell fact-based stories

Maximize performance with

effective use of information

Nurture an Analytic Mindset and

Analytics Democratization

Connecting people

to data

“

”

The stone age was

marked by man's

clever use of crude

tools; the

information age, to

date, has been

marked by man's

crude use of clever

tools.

Anon


Do you have a strategic approach to BI & Analytics?

How are you addressing Culture & People

Objectives Business

Needs

Business

Benefit Technology Organization

Background and

Purpose

Current State and

History

BI Objectives and

Scope

Summary of BI

needs

Envisioned To-Be

State

Priorities and

Alignment

Value Proposition

of BI

Expected Benefits

– Future State KPI

Business Case

Information

Categories

Architecture and

Standards

BI Applications

Governance

Structure

Program

Management

Roadmap and

Milestones

Measurement

Education /

Training

Support

User Engagement and Change Management are

critical success factors. BI/Analytics Competency

Centers are key to driving user adoption &

maturity and culture shift


Analytic Value Chain & Users


Best Practices for Improving Your Analytic IQ

Step 1: Conduct raw talent inventory (audit), compare with industry

benchmarks

Step 2: Define skills needed based on goals

Step 3: Assess where you are and identify gaps

Step 4: Develop a personal development plan

Step 5: Evaluate progress and ongoing development


Quantitative Study Findings: Talent Analytics Corp.

Raw Talent Mindset of Analytics Professionals

• Analytics professionals have a definitive mindset

• It is easily measured

• Study resulted in an industry benchmark to measure analytics IQ of

employees and candidates

• Available for businesses to compare their analytical

©2013 Talent Analytics, Corp


Analytic Time Usage, By Role

Source: Talent Analytics Corp.

Data Preparation

Data acquisition, preparation, analytics

Programmer

Programming, some analytics

Manager

Management, Admin, Presentation, Interpretation, Design

Generalist

Little bit of everything



How does your talent compare to the industry benchmark?



What is worth to ID the best talent for your analytics strategy?


Best Practices for Changing Culture & Improving Analytic

Skills

Hire or Find a Change Leader

Lead by Example, from the Top

Walk the Walk

Define Analytic Skills Requirement in Job Descriptions

Include in MBOs: Set Analytics Objectives & Link to Incentives

Communicate, Communicate, Communicate

Questions?

Contact information:

Pat Saporito, CPCU

Sr. Director, Global CoE for Analytics

SAP AG

[email protected]

+1 (201) 681-9671

Contact information:

Piyush Singh, CPCU

Sr. Vice President

Great American Ins. Co.

[email protected]

+1 (513) 412-3900

mailto:[email protected]


Additional Resources

Reading Analytics at Work: Smarter Decisions, Better Results. Thomas H. Davenport, Jeanne G. Harris,

Robert Morison. Harvard Business School Publishing. 2010.

Benchmarking Analytic Talent. Talent Analytics Corp. December 2012. (A research study on analytics

professionals.

Predictive Analytics: Power to Predictive Who Will Click, Buy, Lie or Die. Eric Siegel. John Wiley &

Sons, Inc. 2013.

War for Talent. McKinsey & Co. Ed Michaels, Helen Handfield-Jones, and Beth Axelrod. McKinsey &

Co., Inc. 2001.

The 2020 Workplace: How Innovative Companies Attract, Develop and Keep Tomorrow’s

Employees Today. Jeanne C. Meiser and Karie Willyerd. Harper Collins. 2010.

Professional Associations: INFORMS (Institute for Operations Research & Management Sciences) www.informs.org

Professional organization for cross industry operations research and management professionals.

International Institute for Analytics www.iianalytics.com

Analytics advisory firm focused on analytics.

SIR (Society of Insurance Research) www.sirnet.org

Professional organization for insurance marketing, market research and product development

professionals.

http://www.informs.org/

http://www.sirnet.org/


Pat Saporito

Pat is a senior director for SAP’s Global Center of

Excellence for Analytics where she helps companies

leverage their data and technology investments for

improved business performance. SAP is an underwriting

sponsor for the Int’l. Institute for Analytics, an analytic

advisory research firm. Pat is on the faculty of IIA’s

Health Care Advisory Board which includes insurers,

hospitals and life sciences companies.

Pat graduated from Pace University in New York with a

Bachelor of Professional Studies in Information

Technology and Risk Management. She holds the CPCU

designation and is a past president of the Society of

Insurance Research and APIW.

Pat has just written a book on insurance analytics,

Applied Insurance Analytics, to be published by Pearson,

plc/FT Press this summer. Pat was also a contributing

author to the IIA book on healthcare and life sciences

analytics also published by Pearson.


Piyush Singh

Piyush Singh is currently Senior Vice-President/CIO of Great

American Insurance Company and Vice-President of its parent

company, American Financial Group. He is responsible for creating

the vision and direction of Great American’s IT strategy in

partnership with leaders within Great American’s business

operations.

Piyush holds a master’s degree in computer applications from

University of Delhi as well as an MBA from Bradley University. He

has holds the CPCU designation.

Piyush is very involved in the larger community, is quoted

frequently in trade magazines and is a regular speaker and panelist

at various industry and trade events. Piyush has received the “Elite

8” award from Insurance and Technology in 2005 and 2013 and was

one of the “Top 10 CIO Breakaway Leader” at the Global CIO

Executive Summit in 2011.

Piyush has the travelling bug in him, travels the world with his wife

and two boys and loves indulging in photography. He has been to

all the seven continents and trekked all the way to the top of Mt.

Kilimanjaro

Data & Analytics

Insurance & data analytics summit workforce science final