Monetizing Data. Creating Wealth through Analytics Powered Digital Culture. Narayanan Ramanathan (NR) Chief Digital Officer & Global Head

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1 Monetizing Data Creating Wealth through Analytics Powered Digital Culture Narayanan Ramanathan (NR) Chief Digital Officer & Global Head Restricted Circulation L&T Technology Services 2018

2 Exciting Facts of Big Data DATA can be everything that is experienced, whether it is a machine recoding information from sensor, and individual taking pictures... BIG DATA: Extremely large data sets - structured and unstructured, that have grown beyond the ability to manage with traditional tools UTILIZATION: Less than 1% of all data we create is analyzed and used TREND: More than 75% of the organizations have already invested or will invest in data analytics Voice of Machines: More than 50 billion Connected smart devices in the world by 2020 The challenge today is to find the value of the data and explore sources in more interesting and applicable ways to develop intelligence that can drive decisions Restricted Circulation L&T Technology Services 2018

3 Analytics The Holistic View Analytics Oriented Revenue Oriented Operations Oriented Process Oriented Data Science Research Revenue Goals Monetizing Data Shared Services Data Engineering Data Governance Compliance L&T Technology Services 2018

4 Data Lifecycle Ingest Transform Analyze Output Understand problem Ingest Data Explore and understand data Clean and shape data Evaluate data Create and build model Communicate results Deliver & deploy model Data Engineer Data Scientist & Analysts App Developers Restricted Circulation L&T Technology Services

5 Where is the value? Marketing How to forecast sales for a marketing product? How to dynamically price product? When to offer discount? Finance How to budget the products for sales? Sales How to improve customer satisfaction? How to improve sales? Industries How to improve utilization of product, facilities and personnel? Process How to measure critical parameters quantitatively and reduce the risks? How to manage compliances? Innovation Which areas worth investing for R&D? How to set up agile process to cope up with changes? Which direction market is moving? Data Analytics can drive informed decisions, find relationships, solve problems, and increase productivity, and even the quality of life! Restricted Circulation L&T Technology Services 2018

6 Where it is used? Traditional Applications Advanced Applications Location based services Weather forecasting Life science research & Healthcare Process Automation Warranty Analytics Traffic flow optimization Personalized insurance Fault Detection & Diagnostics Recommendation engines R&D Fraud detection Customer Behavior Analysis Workforce Safety Oil & Gas exploration Pricing Analysis Predictive Analytics Restricted Circulation L&T Technology Services 2018

7 Analytics landscape - Where to start? Descriptive Predictive Prescriptive Data Mining Bayesian Statistics Reliability Engineering Machine Learning Search Cognitive Computing NLP Diagnostic Deep Learning Machine Vision Process Mining Graph Theory Pattern Recognition Fraud Analytics Real Time Analytics Restricted Circulation L&T Technology Services

8 Evolving Engineering Analytics with fourth industrial revolution (i4.0) Design For Excellence Asset Condition Monitoring Line OEE Vision based Adaptive Control Data Aggregator Service Lifecycle Transformation Restricted Circulation L&T Technology Services

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10 How to Decide Data Analytics Strategy? Business Goal Business Process KPIs Right use case Identify right business problem or bottleneck of right side which needs to be solved Data Right parameter Choose right parameter for selected use case, understand the impact and decide frequency Models Team buy in Get buy in from the team, explain the benefits and get them out of the comfort zone Technology Domain Expertise Analytics Expertise Analytics Solution Security Agile tracking Assure data security wherever required Track KPI, take feedback and learn continuously. Be agile with plan to reach the goal. Restricted Circulation L&T Technology Services

11 Common Architecture Users INTERFACE End User Tools COMPONENTS Apps Visualization, Reports Consumption Data Scientist Data Scientist Tools Frameworks Services Analytics Model & Analyze Processing Data Engineer Data Integration Storage Data Management Data acquisition Restricted Circulation L&T Technology Services

12 Moving the Status Quo Challenges Rewards Few Proved Use Cases ROI Recommendation Engines Recent survey suggest return of 13:1 when applied organization wide Significantly improve up-sell and cross-sell opportunities Churn Analysis Helping to reduce churn with proactive campaigns Healthcare Marketing Advertising analysis improve return on marketing with better response Improve OEE Estimated saving on utilizing data up to $300 billion Retail Leveraging full capability of Data Analytics can improve operating margin by 60% Predictive analysis to improve equipment health and reduce downtime Automation Avoids repetitive manual efforts and efforts up to 40 to 60% Restricted Circulation L&T Technology Services

13 Ways to Monetize Process Output Direct Monetization Internal or external API s Licencing Sell analysis / Insights Trade your data Data Refine Data Manual or Machine processing Indirect Monetization Discover new business or customer Launch new services or products Enhance service or product Reduce/ Save costs Improve efficiencies and productivity Restricted Circulation L&T Technology Services 2018

14 Success Stories Analytics for Smart Grid Build scalable data collection and Analytics solution Comply with Industry and Security Standards Provide API for easy integration with other systems 10% reduction of operational Cost RAPM: Remote Asset Performance Management mcare: Conditional Monitoring and Predictive Maintenance of Manufacturing Machinery Continuous ML model tuning Visualization dashboard, mobile solution, notifications & alerts Improved productivity with reduced unplanned downtime and improved asset life Machine Usage Analytics Monitor fixed and moving assets at construction sites spread across 300+ locations Optimize usage Improve productivity Equipment status Fuel usage and theft protections RA PM Get an insight from the usage of pattern of MR Devices being used in different hospitals/research institutes Data for achieving customized and targeted selling and services Customized report generation Proactive maintenance and cost saving Restricted Circulation L&T Technology Services

15 VIDEO Restricted Circulation L&T Technology Services

16 Engineering Analytics We Play In - Plant 4.0 Digital Solutions Inventory House Management Production monitoring system using Camera Materials Management After Market Services Inventory management using RFID tags Finished Goods tracking and Quality Paperless factory Line OEED Wireless Asset tracking Manufacturing Engineering Solution Energy Management Systems CBM of Discrete Assets Restricted Circulation L&T Technology Services

17 YOUR DIGITAL PARTNER! See our booth #2 INDUSTRY 4.0 Restricted Circulation L&T Technology Services