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Analytics to Action! Team-Oriented Root-Cause-Analysis Enabled by Tableau. George Smirnoff Trexin Consulting, LLC. Agenda. Introduction – From the Beginning The Power of Analytics to Action! Accelerated Problem-Solving Using Tableau Examples Medical Claims Stock Trading

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analytics to action team oriented root cause analysis enabled by tableau

Analytics to Action!Team-Oriented Root-Cause-Analysis Enabled by Tableau

George Smirnoff

Trexin Consulting, LLC

slide2
Agenda

Introduction – From the Beginning

The Power of Analytics to Action!

Accelerated Problem-Solving Using Tableau

Examples

Medical Claims

Stock Trading

Customer Satisfaction

Applications Across the Business

Questions

Contact Information

slide3
Early Visual Analytics – 1854 London Cholera Epidemic

Dr. John Snow

  • One of the fathers of epidemiology
  • Leader in anesthesia and medical hygiene

Setting

  • Believed disease spread through bad air
  • No concept of hygiene and how disease was spread
  • Expected to “see” disease in a microscope

Hypothesis

  • Cholera was being spread through the water, specifically through the public Broad Street Pump
  • Sewage-polluted sections had increased incidences of cholera

Challenge

  • Couldn’t prove it through microscopic examination of the water
slide4
Visual Analysis Demonstrated a Surprising Result

Method

  • Use pinpoints to identify location of cholera breakouts

Result

  • Government officials were reluctant to accept that disease could be spread through oral-fecal means, and rejected the theory
  • But, the visual evidence was so compelling that in the interest of public health, they replaced the pump anyway
  • Later discovered that the well had been dug only 3 feet from an old cesspit, which leaked
slide5
Agenda

Introduction – From the Beginning

The Power of Analytics to Action!

Accelerated Problem-Solving Using Tableau

Examples

Medical Claims

Stock Trading

Customer Satisfaction

Applications Across the Business

Questions

Contact Information

slide6
Approaching the Inflection Point

The power of “competing on analytics” is widely accepted, but the big BI tech project is not getting companies there

  • Act 1
  • Competing on Analytics
  • Harvard Business Review
  • January, 2006
  • “Virtually all the competitors we identified as aggressive competitors are clear leaders in their fields, and they attribute much of their success to the masterful exploitation of data.”
  • Act 2
  • The Secrets of Successful Strategy Execution
  • Harvard Business Review
  • June, 2008
  • “Research shows that enterprises fail at execution because they go straight to structural reorganization and neglect the most powerful drivers of effectiveness – decision rights and information flow.”

Analytics to Action!

  • Integrating operations and information analytics, along with the decision rights to act, is key to achieving the promise of being an analytics competitor
slide7
Business Intelligence As It Is Today Is Not Enough

The industry is maturing to realize that while Davenport’s “Competing on Analytics” was right, getting it done is incredibly difficult

Successfully executing the promise of analytics requires embedding analytics into the front lines of business

  • Combining both decision rights and information analytics

The “inflection point” represents the mostdifficult part of competing on analytics

  • Embedding analytics, with the decision rightsto act, into the fabric of your organization

Value (ROI)

Investment $$

By better integrating analytics with business knowledge, putting the power in the hands of the business, the promised ROI can be realized, thereby achieving competitive advantage

slide8
Information Flow Creates a Continuum for Execution

Transaction Processing

Customer Transaction

Transactional

Fulfillment

Sales

Data Flow Continuum

Marketing

Production & Inventory

Data Timing

Product

Books &

Records

Accounting

Customer History

Financial Reporting

Sales & Marketing

Historical

Corporate

Customer

Data Focus

slide9
Shifting the Model Enables Better Decision Making

Transaction Processing

Customer Transaction

Transactional

Fulfillment

Sales

Data Flow Continuum

Marketing

Production & Inventory

Data Timing

Product

Books &

Records

Accounting

Customer History

Financial Reporting

Sales & Marketing

Historical

Corporate

Customer

Data Focus

slide10
Competitive Advantage through Analytics

Achieving Insight Creates Highly Leveraged Business Value

…by process, function, department, division, capability, or company

Revenue & Profitability

Insight Enables Competitive Advantage

Capability Maturity

Analyze &Improve

Action

Iterative

Cycle

Iterative

Cycle

Innovation Value

(& Risk Management)

Measure

Test

Insight

Information Well Understood Produces Insight

Information

Data Well Organized = Information

Data

Data Lifecycle

Define & Design| Create & Collect | Move & Distribute | Use & Maintain | Archive | Dispose

Time

slide11
Agenda

Introduction – From the Beginning

The Power of Analytics to Action!

Accelerated Problem-Solving Using Tableau

Examples

Medical Claims

Stock Trading

Customer Satisfaction

Applications Across the Business

Questions

Contact Information

slide12
Visual Analytics is Key for Analytics to Action!

Integrating analytics into business operations is more easily described in concept than achieved in practice

Requires a significant and iterative change process focusing on the critical touch points between information, business process, and the revenue value chain

Tableau’s visual analytics is a fantastic enabler for viewing information through a business lens

  • Get the right data, removing noise and establishing full context
  • Get to one set of facts, fully understanding the business imperatives and the data that supports it
  • Gain alignment on what it means and how to act
  • Execute business change, not just spreadsheets and reports—all enabled by the integrated business focus
  • Build analytical capabilities into the day-to-day operations, pushing analytics to the front lines of business
slide13
A Powerful Example, Root-Cause-Analysis

Visual analytics is having a profound impact on problem-solving and root-cause-analysis because it brings together operational, analytical, and technical skills together

  • Multi-disciplinary teams in interactive working sessions
  • Looking at problems from multiple angles, often combining disparate data sources, in real time

Seen significant acceleration in problem-solving by moving from systematic to collective problem solving

  • Examples of shortcutting months and years into days

Addresses the two keys to successful execution – information flow and decision rights – using visual analytics as the bridge

Using multi-disciplinary teams consolidates information flow into interactive visual analytic sessions bringing accelerated resolution to perplexing problems

slide14
Agenda

Introduction – From the Beginning

The Power of Analytics to Action!

Accelerated Problem-Solving Using Tableau

Examples

Medical Claims

Stock Trading

Customer Satisfaction

Applications Across the Business

Questions

Contact Information

slide15
Examples Across the Spectrum

Strategic Example: Customer Satisfaction in Financial Services

  • Target areas for improvement
  • Strategy adjustment
  • Measurable impact

Compliance Example: Stock Trading

  • Identification of trading self-dealing
  • Fraud and compliance analysis

Operational Excellence Example: Medical Claims

  • Payment backlogs
  • Coding errors
slide16
Operational Excellence Example: Medical Claims

Typical Scenario

Unexplained revenue shortfalls

Medical claims are submitted electronically

Multiple claims per visit

Valid combinations highly dependent

Common Issues

Coding mismatches

Timing issues

2/3 of revenue shortfall due to one modifier coding error was in found in just 3 codes and there is likely a significant process issue due to claims being open too long.

Observations

  • Coding mismatches
  • Claims beginning with a 77 require a special explanation, indicated by a 26 modifier
  • Incorrect modifiers results in lack of payment
  • Timing issues
  • Majority of claims were being paid slower than contractual obligation

Significant claims were not paid in Q1/2006

Missing revenue due to coding errors: 70%

Delayed revenue due to claim backlog: 25%

slide17
Compliance Example: Stock Trading

Typical Scenario

Investigative analytics as part of a comprehensive fraud and/or compliance program

Huge volumes of data – deal with samples

High degree of business knowledge required

Common Issues

Self dealing at broker or firm level

Trader commissions relative to other traders within one security can easily be broken out so that anomalies stand out.

But, caution looks can be deceiving…

Observations

  • There are many ways to mask trader profitability and the most obvious is never where the money is hidden
  • Visual analysis is critical for breaking complex data into manageable tranches
  • Errors in analysis due to easily overlooked factors can easily be seen through a visual breakout

With complex data, Tableau can be used to visually break out the different scenarios for further analysis

slide18
Strategic Example: Customer Satisfaction

Typical Scenario

Financial services company with extensive agent network

Customer service drives new sales and has a significant impact on retention

Do customer survey using standardized (ACSI in this case) questions plus some targeted at driving meaningful impact analysis

Common Issues

Maximize customer satisfaction and revenues

Executive misalignment on root-causes

Key customer defection metric quickly shows the potential impact of customer service deficiencies

Observations

  • Graphical analysis set direction for advanced financial analysis
  • 10% of agents giving 50% of work to competitors
  • Hundreds of millions $$ in revenue at risk through poor customer service
  • Just a 2% services issue with agents put tens of millions $$ at risk

The core data also lends itself to industry benchmarking when using standardized survey questions and measures

slide19
Agenda

Introduction – From the Beginning

The Power of Analytics to Action!

Accelerated Problem-Solving Using Tableau

Examples

Medical Claims

Stock Trading

Customer Satisfaction

Applications Across the Business

Questions

Contact Information

slide20
Visual Analytics Can Be Applied Across the Business

Grow the Business

Corporate Strategy

Target Markets

Product Design

Financial Planning

Sales & Marketing

Customer Response

Marketing Campaigns

Human Resources

Employee Performance

Technology

Strategic Investment

Run the Business

Business Operations

Finance & Budgeting

Sales & Marketing

  • Tracking, Management, and Performance
  • Customer Experience

Human Resources

  • Training & Benefits Impact

Technology

  • Data and Infrastructure Management

Transform the Business

New Market Entry

Distribution Channel Enhancement

Outsourcing

  • Operational Excellence

Talent Management

  • Talent Analysis & Enhancement

Technology Platform Transformation

  • Upgrades & Replacement
slide21
Agenda

Introduction – From the Beginning

The Power of Analytics to Action!

Accelerated Problem-Solving Using Tableau

Examples

Medical Claims

Stock Trading

Customer Satisfaction

Applications Across the Business

Questions

Contact Information

slide22
About the Presenter

George Smirnoff isa Managing Director at Trexin Consulting focusing on creating competitive advantage by leveraging data analytics. Previously, George led Ernst & Young’s Information Management & Analysis practice for Financial Services. He was the VP of Product Strategy and Application Development at PRG-Schultz and began his career at Diamond Management and Technology Consultants. George holds a J.D. and M.B.A. from Cleveland State, completed the Goizueta Executive Program at Emory, and is a CISSP and member of the Ohio Bar.

Trexin Consulting is a management and business technology consultancy that provides both advisory and implementation services.  Trexin assists customers with complex and sensitive business issues that require a trusted perspective, an experienced hand, and an innovative approach.  The company’s client work is focused on driving profitable growth, managing effective transitions, and “getting to done.”