Class_2

What exactly is Analytics?

Analytics helps businesses in a fast changing environment. Data is a reflection of what has happened and what is happening in your business. Using this data to understand current situation and make decisions for the future is critical to the survival of a business. Organizations which are adept at doing this are agile, adaptive to external change and are considered innovative.

What is Analytics?

What happened in the past is usually accomplished using Descriptive analytics

• Dashboarding and Other ROB (Rhythm of Business) Reporting
• Weekly, Monthly Dashboards
• Segmentation

What will happen is usually accomplished using Predictive analytics

• Forecasting - Renewals, Premiums, Churn, Sales etc
• Predicting Loss and Claims

Inquisitve analytics helps understand the WHY of what is happening

• Fraud detection and prevention
• Design of Health and Wellness programs etc
• Exploratory Analyses _______________________________________________________________________________________________________________________________________

How should an analyst be in such a fast paced environment?

Traits of a good data scientist

Let us now focus on the EMPATHY aspect for the rest of today’s class. How much do you know about QBE and the Client you work with on a daily basis?

• What is the Gross Written Premium for QBE for the latest year? (2016). Is it up or down compared to last year?
• What is the combined expense ratio for the year 2016? (Claims paid + Expenses)
• Are profits up or down compapred to 2016?
• How many countries does QBE operate in?
• Which Class of Business contributes the most to QBE’s Gross Written Premiums? (Commercial, P&C, Auto, Life etc)
• Can you name any 3 priorities of QBE’s Strategic agenda for 2017? (Data Analytics does not count as i already gave you that answer)
• Under the Data Analytics Strategic initiative - Can you name 2 or 3 focus areas?

Let us test ourselves a little closer to home

• What is the Role and Designation of the Client you work with on daily basis?
• Where does she/he fit into in an Organisational map of QBE?
• Name at least 2 of his/her KRA/KPIs?
• Would you be able to talk for 30 secs on how your current project will align with either
  • QBE’s strategic agenda
  • Your immediate client’s KRAs