An exclusive presentation by Mr. Srinivasan Iyengar, Chief Operating Officer of Reliance Life Insurance - “An Road to an Analytical Enterprise”. The presentation was made at Analytics Conference in Mumbai.
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The Road to an Analytical Enterprise
1. THE ROAD TO AN ANALYTICAL ENTERPRISE
Srinivasan Iyengar, COO – Reliance Life Insurance
Confidential
Slide
2. Dynamics today…..
Connect the Dots ??? Disparate Sources of Data
Low campaign results resulting in
high acquisition costs v/s low
acquisitions
Build the Blocks ??? Data Insufficiency
Nothing, But the Truth ??? No Single Version of Truth
Inadequate Information for
Analytically Inferred
Strategy
Non-Integrated
Analytics resulting in
Inferential Decisioning
Inaccurate & Inconsistent
Information Dissemination
Where is Eminence ??? Poor Quality of Data
WHO is my Customer ??? No 360 degree View
Inability to deploy segmentbased campaigns and
customized messaging
High Marketing &
Distribution Management
Spends
Spend less and bag more ??? Non-automation of key process
Confidential
Slide
3. Dynamics today…..
Connect the Dots ??? Disparate Sources of Data
Low campaign results resulting in
high acquisition costs v/s low
acquisitions
Non-Integrated
Analytics resulting in
Inferential Decisioning
Build the Blocks ??? Data Insufficiency
Advent of Big Data…
Nothing, But the Truth ??? No Single Version of Truth
Inadequate Information for
Analytically Inferred
Strategy
Inaccurate & Inconsistent
Information Dissemination
Where is Eminence ??? Poor Quality of Data
WHO is my Customer ??? No 360 degree View
Inability to deploy segmentbased campaigns and
customized messaging
High Marketing &
Distribution Management
Spends
Spend less and bag more ??? Non-automation of key process
Confidential
Slide
5. Approach to Enterprise Implementation
Identification of
Analytical Areas
Sales
Transformation
BIU - Business
Technology
Integration
On Demand Reports
Propensity Modeling
Strategize
Design
Monitor
Customer
Profitability
Deploy
Knowledge
Management
Management
Dashboards
Enterprise
Information
Visualization
Phased
Deployment
Enterprise Participation
Intelligence & Ad-Hoc Analysis
Confidential
Slide
6. Approach to Enterprise Implementation
What To Do???
Sales
Transformation
Recruitment Profiling
Product Time To Market
On Demand Reports
Acquisition v/s Win-back
Product Mix Gaps
Propensity Modeling
Competitor Product Launch Impact
Strategize
Customer Life-Time Value
Customer
Channel Analytics
Profitability
Product Profitability Modeling
Does it
Management Address the Needs
Dashboards
Board
Monitor
Enterprise
Information Management
Visualization
Employees
Intelligence & Ad-Hoc Analysis
Customers
Confidential
First ThingsIdentification of
First…
Analytical Areas
Integration or Implementation
BIU - Business
Quick Wins Technology
Integration
Let
Design the Others Not Stay Far ☺
Knowledge
Design to Factor nextManagement
stages also
Execution
Deploy Management Commitment
Phased
Deployment
Enterprise Programs
Enterprise Participation
Cultural Transformation
Training / Awareness
Slide
9. The Results ………It’s a Journey
New Business Revenue
Persistency
Customer Retention
Renewal Collection
Advisor Activization
Reduction in Sales Attrition
Confidential
Slide 9
10. Some Takeaways......
Amidst all these don’t loose focus on data quality – its
key & iterative
Strong robust ODS (or EDW) is the key foundation layer
Build/maintain computed value elements in ODS layer
and not in presentation layer
It’s a Myth that EDW is a pre-requisite for good analytics
results
Critical to have techno-functional PM to achieve success
to these projects
Confidential
Slide 10