Fundamentals of Predictive Analytics: Part Two

Fundamentals
of Predictive
Analytics
PART TWO
PRINCIPLES AND PRACTICES
BUMA 30073
A N A LY T I C S
PREDICTIVE
of
Deploying the
01 Predictive Business 04 Summary
Fundamentals
Analytics Function
Action Plan
02 HR Analytics Software -
Sample
05
Financial Data Software -
03 Sample
A G E N D A
Learning Outcome
At the end of this lesson, you will be able to:
Describe the key structural components, such as

designing a performance measurement system, selecting
KPIs and drivers, and applying a management review process,
that support a deployment of an effective predictive business
analytics function.
Lesson 5
DEPLOYING THE PREDICTIVE
BUSINESS ANALYTICS FUNCTION
In today’s business and economic environment, an
organization must be adaptive to respond effectively to
the magnitude and rapidity of change. Moreover, the
complexities of an organization’s business model
increase the need for key management practices to be
performed flawlessly.
INTEGRATING PERFORMANCE MANAGEMENT WITH ANALYTICS
• Relentlessly communicating the strategy to the entire

organization.
• Properly aligning process and organizational capabilities
and resources with the business model.
• Visibly linking performance accountability and rewards
(e.g., bonus, promotion) with operating results.
• Adapting strategies and operations to reflect evolving
business realities.
Key Management Practices

Critical elements of a Performance Management System
Adapting Aligning performance Establishing Conducting

management with dedicated analytical management
business strategy
strategy and operations capabilities operating reviews
Pursuing fact-based, A disciplined and rigorous

Responding to the Using the right information-driven discussion among leadership
resources for the right team members of current and
changing business decision management
forecasted operating results
environment. things and measuring practices to monitor and their implications to
the right indicators. and manage desired strategies and ongoing
results. operations.
A well-designed performance management system enables a company to
develop and utilize a coherent set of performance measures or key
performance indicators (KPIs) that are translated into concrete and
operational terms that can be measured, communicated, and used to drive
reporting, analysis, decision making, and action at both the business unit and
individual levels.
Deployment of Predictive Business Analytics
Step 1 Step 2 Step 3

Defining Key Designing &
Getting Performance developing
Started Indicators/ predictive
Measures business
analytics
1.Select a critical few.

▪ Executive sponsorship 2.Seek a balance
and culture between leading and • Reactive
▪ Governance and status lagging measures as • Systemic
updates
▪ Project management
well as financial and • Dynamic
nonfinancial ones.
▪ People • Collaborative
▪ Tools
3.Ensure alignment
.
▪ Data standards with strategies,
▪ Process and workflow operations, and
▪ Use of consulting organizational roles
services. and responsibilities
IMPLEMENTATION APPROACHES
Pilot
• organizations decide to implement these process changes by first selecting

a pilot department or function.
Scaled phase-in.
• involve several concurrent pilot departments or functions that offer the

opportunity to (1) use broader sets of analytical focus and more extensive
drivers, and (2) utilize the wider scope of management responsibilities and
decision making.
Division-wide/enterprise-wide
• The focus could be on a division (e.g., consumer lending, retail

banking, personal lines insurance) or a major department (e.g.,
education, public safety, graduate business school within a
university).
CHANGE MANAGEMENT
A clear program for effecting change will help

with the implementation of predictive analytics.
A change management role requires an

understanding of the broader social and behavioral
issues involved in implementing innovations and
new ways of working.
Characteristics of an Effective Implementation of a PBA Capability
Communications Education Training

Key Benefits
Here are a few key benefits that businesses can expect to find when incorporating
predictive analytics into their overall learning analytics strategy:
•Personalize the training needs of employees by identifying their

gaps, strengths, and weaknesses; specific learning resources and
training can be offered to support individual needs.
•Retain Talent by tracking and understanding employee career

progression and forecasting what skills and learning resources
would best benefit their career paths. Knowing what skills
employees need also benefits the design of future training.
•Support employees who may be falling behind or not reaching

their potential by offering intervention support before their
performance puts them at risk.
•Simplified reporting and visuals that keep everyone updated

when predictive forecasting is required
HR
Analytics
HR analytics is the process of collecting and analyzing Human Resource
(HR) data in order to improve an organization’s workforce performance.
The process can also be referred to as talent analytics, people analytics,

or even workforce analytics.
Workday Workday Analytics
https://www.workday.com/ https://www.workday.com/en-
us/products/analytics-reporting/overview.html
Let’s learn
Excel! Online Learning
ORGANIZING
DATA
using
MS Excel
B A S I C S K I L L
LEARNING
E X C E L
You are now able to:
Describe the key structural components, such as

designing a performance measurement system,
selecting KPIs and drivers, and applying a
management review process, that support a
deployment of an effective predictive business
analytics function.
Summary
Action Plan
TO DO
1.Explore Coding
2.Learn MS Excel
READ LEARN EXPLORE

Lesson 5 Excel 2016 Basics Exploring Coding
https://edu.gcfglobal.org/en/excel2016/
Excel Formulas
https://edu.gcfglobal.org/en/excelformulas/
THANK YOU
Prepared by: Prof. Michelle S. Lasundin

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Fundamentals

Describe the key structural components, such as

• Relentlessly communicating the strategy to the entire

Key Management Practices

Adapting Aligning performance Establishing Conducting

Pursuing fact-based, A disciplined and rigorous

Step 1 Step 2 Step 3

1.Select a critical few.

• organizations decide to implement these process changes by first selecting

• involve several concurrent pilot departments or functions that offer the

• The focus could be on a division (e.g., consumer lending, retail

A clear program for effecting change will help

A change management role requires an

Characteristics of an Effective Implementation of a PBA Capability

Communications Education Training

•Personalize the training needs of employees by identifying their

•Retain Talent by tracking and understanding employee career

•Support employees who may be falling behind or not reaching

•Simplified reporting and visuals that keep everyone updated

The process can also be referred to as talent analytics, people analytics,

Workday Workday Analytics

Describe the key structural components, such as

READ LEARN EXPLORE

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