Think Tank 1 - BIIA.com€¦ · Think Tank 1 BIIA at EASDP Amsterdam 2013 Congress Innovation Example: Thomas Industrial Network • Thomas Exited Print in 2006 – In 1998 Print

Think Tank 1

Moderator

Joachim C Bartels

Managing Director

Business Information Industry Association

Hong Kong

September 2013 BIIA at EASDP Amsterdam 2013 Congress www.biia.com

• The Analytics Revolution is Under Way

• Wall Street Rewards Companies with

Analytics

• The BIG Data Idea is Taking Hold

• Main Street is Dying – Information Plays

‘Catch up’

• Growth and Customer Profitability Becomes

an Imperative

• Fear of Fraud Drives Consumer Credit

Information

• Consumers Seek Ways to Draw the Veil Back

Over Their Lives – Taking Control over Data

• The Medical Information Revolution (USA)


Observation of Key Trends

The Analytics Revolution is Under Way

Analytics Drive Growth


Acceleration in Analytics Development

(% of Announcements, 282 in Total, Second Half 2013 and

First Half of 2013)

23.8

18.8

5 11.7

8.5

5.7

2.8

23.8

Analytics, Scoring,

Fraud Prevention

Software, Workflow,

Platforms

BIG Data

B2B Data

B2C Data

Compliance

Consultative

Other


Think Tank 1 BIIA at EASDP Amsterdam 2013 Congress www.biia.com

Method of Development Analytics

(% of Announcements)

29

50

21

Acquired

Internal Dev

Partnerships


Wall Street Rewards Companies with

Analytics Capabilities

Enterprise Value in X Revenue

Source: Marlin Associates (M&A)


Business Information Development Trends

Enterprise Value in X EBITDA

Source: Marlin Associates (M&A)

Degreed in Geek

It doesn’t hurt to have degrees from top operations

research, statistics or mathmatics programs, such as

those at MIT, Stanford, Harvey Mudd, Imperial

College London, Cambridge University and the

Indian Institute of technology.

Mathlete

Strong math skills are table stakes.

Suit-Able

Has the know-how and finesse to be a business

leader. Today, data scientists can lead from the

backroom to the boardroom.

Agile and Adaptive

Versatile enough to apply their expertise to

multiple industries, from retail to banking, health

care to airlines.

www.indeed.com/jobtrends?q=%22Data+Scientist%22&I=%5D&relative=1. http://management.fortune.cnn.com/2013/05/10/big-data-jobs/. http://hbr.org/2012/10/data-scientist-the-sexiest-job-of-

the-21st-century/ar/1. www.nytimes.com/2013/04/14/education/edlife/universities-offer-courses-in-a-hot-new-field-data-science.html?_r=2&. www-01.ibm.com/software/data/

infosphere/data-scientist/. www.fifo.com. www.indeed.com/salary?q1=data+scientist&I1=&tm=1. www.payscale.com/research/US/Job=Data_Scientist_%2F_Engineer/Salary.

Insight Whisperer

Can develop unique insights, apply them to

solve business problems, and explain them to

business people who don’t have PhDs in

operations research.

Quantastic

Successful data scientists come not only from

pure math backgrounds, but also from such

fields as engineering, statistics and

econometrics. They have programming skills

or the ability to learn programming languages

and represent concepts via computer code.

It takes one to know one:

A true data scientist can spot the real deal

ANATOMY OF A DATA SCIENTIST The era of Big Data has created a talent gap for people who can pull actionable insights out of raw data. The data scientist—called “the

sexiest job of the 21st century” by Harvard Business Review—is in demand, with a 15,000% jump in job posts between 2011-2012. In the US,

the average salary for these sought-after scientists is around $100,000

So what makes a good data scientist?

Problem-Solving Powers

A problem solver at heart who’s able to devise

creative solutions to rel-world problems.

Knows how to define those problems

precisely, spot elusive patterns and connect

the dots.

Curiouser and Curiouser

Critical thinking and a relentlessly inquisitive nature

are at the center of an analytic mindset.





Analytics



‘Catch up’

• Growth and Customer Profitability Become an

Imperative


Information





Key Trends - Innovations in BIG Data and

Analytics

Taxation

BIG Data

&

Analytics

Banking

Credit

Pricing

Marketing

• Land Registers

• Council Records

• Property Sales –

domestic &

overseas

• Determine Customer

Future Needs

• Higher Risk

Prediction

• Identity Analytics in

Fraud Prevention

• Compliance Tools

• Payday Lending

• Linking Corporate Profiles with

News

• Linking Mortgage Data with Geo

Data

• Enterprise & Operational Risk

Management Platforms

• Compliance Tools

• Fraud Prevention

• Financial Health Indices on SMEs

• Real Time

Competitive Pricing

in Retail

• Analytics for Specific

Market Segments

• Capabilities to Capture Sentiments,

Intent of Purchase

• 150 million Facebook Conversations

Analyzed

• Mining of HR Data for CRM





Analytics



‘Catch up’


Imperative


Information





• Main Street is Dying – Information

Plays ‘Catch up’

• Marketing Data Bases Decay Faster

• Lack of Comprehensive Customer Knowledge

• Companies Scramble for B2B and B2C Data

The Issue¹

• 50% of Data Outdated

• 46% Problems in Linking Different Sources

• 42% Inaccurate Data

• 75% of Respondents to Make Investment in Data Quality¹

• 94% of Respondents to Consider Investment in Real-time

Decision-making and Analytics¹

¹Experian QAS Survey

http://www.qas.com/data-quality-infographics/unlock-the-power-of-data.htm








Analytics



‘Catch up’


Imperative


Information





Key Trends

More Customer Insights

• … Executives are still looking for a deeper understanding

of their customer base

• Lack of reliable access to useful external data¹ (42%)

• Intense focus on sustained profitable growth¹ (52%)

• Harder to achieve in the future¹ (83%) - Reached end of the line

in cost cutting

¹ CFO Research and Experian - FICO Banking Analytics Blog - NACM

Convergence of

Marketing and Credit

• More and Better

Information &

Insights Real-time

• Marketing, Sales &

Credit Work in

Tandem

• Secure Growth Path

• Determine what Customers

Aspire to in the Future

Expanding Scope of

Information

Key Focus on Highest

Priority Items

• Segmentation

• Data & Decision

Standards

• Client Profitability

• Discipline in Execution


Innovations in BIG Data and Analytics

Key Trends

¹ CFO Research and Experian - FICO Banking Analytics Blog - NACM

Expanding Scope of Information Beyond

Traditional Sources

• Internal Data

• Customer Portfolio

• Marketing & Sales

• Distribution Channels

• Factory Floor

• Supply Chain

• External Data – New

Sources

• Insights on Potential

Customer Needs

• Customer Environment –

Demand & Risk

Data

Integration

Analytics

Workflow

• Information Literary

as a Crucial

Management

Competency • Real Time

Reliable Business

Decisions


Innovation Example IRON Solutions

…. There was a Paper Based Guide ….

…. Equipment Valuations


Innovation Example IRON Solutions

The Intelligent Online Trading System

Providing Data, Intelligence, and Tools for Profitability

Sourcing - Buy - Sell Sourcing - Buy - Sell

Life Cycle of

Equipment

Price Indices

Financing

Risk Assessment

Trends

Valuations


Innovation Example:

Thomas Industrial Network

• Thomas Exited Print in 2006 –

In 1998 Print was 71% of Revenue, 0% in 2007

• Vertical search digital directories for

engineers, designers and purchasing

agents to identify industrial supplies

• Introduced "Marketing Services" to help

industrial suppliers go direct to

customers

• Thomas Industrial Network

• Major expansion by adding Data Syndication

services bridging gaps between suppliers and

distributors





Analytics



‘Catch up’


Imperative


Information





Fear of Fraud Drives Consumer

Credit Information

• Regulation Requires Free Credit Reports

Credit Bureaus Responded

with Value Added

• Credit Scores

• Fraud Monitoring

• Fraud Alert

• Identity Theft Monitoring

• Identity Theft Resolution

LifeLock

• Fraud Monitoring

• Identity Theft Protection

• Stolen Wallet Assistance

• Service Guarantee

• Insurance

A US $ 2 Billion Business


Fear of Fraud Drives Consumer

Credit Information

LifeLock

- The Innovator -





Analytics



‘Catch up’


Imperative


Information






• US Consumer Financial Protection Bureau

• New Regulator for Consumer Credit Information

• Scrutinizes Practices of Credit Bureaus

• Insists on Transparency and Expeditious Complaint

Resolution

• Senate Investigation of Data Brokers

• Scrutinizes Practices of Data Brokers

• Concerned about ‘Unprecedented Amount’ of Data

Collected

• Consumer Education

• Industry Practices

• Financial Literacy

• Acxiom ‘AboutTheData’

• Portal for Consumers

• Opt-out for Undesirable

Mail





Analytics



‘Catch up’


Imperative


Information





• The Medical Information

Revolution in the USA

• Regulation Drives Growth in

Healthcare Informatics

Information

Science

Computer

Science

Health

-care

Hospitals

Doctors

Retail

Pharma

Insurance

Pharma

Industry

Device

Manufacturers

Regulator Gov

Insurance

Deeper and more

Accurate Profile of

Consumer Patient

Consumers want more

Transparency on

Services Provided


• The Medical Information

Revolution in the USA

• Market Catalysts:

• Higher Patient Volumes at Lower Reimbursement

Rates

• Informatics and Data-Driven Decision Making

• Data Collection, Data Aggregation, Data Warehousing,

Decision Support and Communication

• Emergence of the Consumer Patient

• Individuals Realize that they Cannot be Passive

Participants and Applying Greater Scrutiny of Services

they Receive

• Transformation of the Healthcare Insurance

Market

• Creation of Public and Private Insurance Exchanges


Thank You!

About the Moderator:

Bartels is founder and chairman of Intrepid Explorers, Inc. (IEI), a US based information content

consultancy IEI specializes in serving information content providers in the development of new

international markets, the identification and selection of potential partners, the development of new

strategies and information concepts. IEI also serves clients outside the information content industry, but

which may have a keen interest in entering or investing in the content industry. IEI advises the banking

sector (including Central Banks) in information pooling of loan performance data and in setting up Credit

Bureau operations.

IEI is a co-founder of Business Information Industry Association Asia Pacific – Middle East Limited (BIIA),

based in Hong Kong. BIIA was formed in June 2005 as a result of an initiative by several leading business

information content services companies and three information content consultancy firms. BIIA currently

represents 30 members from Asia Pacific Rim countries, South East Asia, South Asia, the Middle East,

Europe and the USA. BIIA is a trade association for the information content industry. Information content

can be defined broadly as suppliers of paid-for (by users or advertisers) proprietary digital information to

businesses or about businesses. One of BIIA's principal objectives is to hold regular Information Forums

for its members to be able to network and debate future trends in information needs with users, regulators,

government and the public information sector. BIIA provides a platform for members to network and to

work on common issues facing the industry in the region.

Bartels started his career in the business information industry at The Reuben H. Donnelley Corporation (at

that time a D&B Subsidiary). He was Senior Vice President at the Dun & Bradstreet Corporation from

1975 to 2000.

Joachim C Bartels can be reached at: [email protected]

www.biia.com

mailto:[email protected]



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Documents

Think Tank 1 - BIIA.com€¦ · Think Tank 1 BIIA at EASDP Amsterdam 2013 Congress Innovation Example: Thomas Industrial Network • Thomas Exited Print in 2006 – In 1998 Print