book

Augmented Analytics

by Willi Weber, Tobias Zwingmann

May 2024

Intermediate to advanced

292 pages

9h 7m

English

O'Reilly Media, Inc.

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Includes

Quizzes

Foreword
Preface
Who Should Read This Book?Learning ObjectivesNavigating This BookConventions Used in This BookO’Reilly Online LearningHow to Contact UsAcknowledgments
1. The Business Transformation
Why Businesses Are TransformingFactor 1: The Speed of ChangeFactor 2: The Convergence of Multiple TechnologiesFactor 3: The Importance of DataFactor 4: Changing Consumer Behavior and Customer CentricityIndustries Heavily Impacted by Digital TransformationThe Consequences for Your BusinessThere’s No Analytics Transformation Without Augmented AnalyticsA Data-Driven CultureThe “People Problem” and the Limits of UpskillingConclusion
2. The Analytics Problem
Finding Your Analytics PurposeCompetition and Customer ExpectationsOperational EfficiencyAvailability and User FriendlinessInnovationRegulatory ComplianceHow to Start Your Analytics JourneyIndustry ExamplesEcommerceHealthcareManufacturingFinancial ServicesGovernmentCommercial InsuranceThe Concept of Analytical MaturityDetermine Your Current—and Future—Data MaturityStage 1: Data ReactiveStage 2: Data ActiveStage 3: Data ProgressiveStage 4: Data FluentConclusion
3. Understanding Augmented Analytics
DefinitionThe Five I’s of Augmented AnalyticsOvercoming the Limitations of Traditional Analytics Approaches Augmented Workflows The Benefits of Augmented AnalyticsAA Gives Nonexpert Users a Better ExperienceAutomated Integration Provides More Complete InsightsAA Gives Faster, More Efficient InsightsStandardization Reduces Human Errors and Bias for Better InsightsAA Tools Are Easier to Scale UpAA Reaches Further Afield to Generate Unexpected InsightsOvercoming BiasKey Enablers of Augmented AnalyticsAutomation and AIArtificial Intelligence: The Five ArchetypesThe Limitations of Augmented AnalyticsThe Challenges of Augmented AnalyticsConclusion
4. Preparing People and the Organization for Augmented Analytics
Tailoring Augmented Analytics for Different Organizational RolesAnalytics LeaderAnalytics TranslatorAnalytics UserAnalytics ProfessionalAnalytics Transformation ManagerSummary of Key RolesThe Center of ExcellenceCreating a Center of ExcellenceApproaches to Organizing a CoEDriving Transformational Change with the Influence ModelFostering Understanding and ConvictionReinforcing with Formal MechanismsDeveloping Talent and SkillsRole ModelingCultivating a Data-Literate Culture Cultivating Analytics AwarenessStorytelling with DataEmbracing Data-Driven ManagementLeading in the Age of AIThe Enablement ProgramTraining Formats for Analytics LeadersTraining Formats for Analytics Translators Data Literacy TrainingTechnical TrainingConclusion
5. Augmented Workflows
Types of Workflow AugmentationFixed-Rule, High-Confidence AugmentationIdea and Insight EnrichmentConversational AugmentationContextual AugmentationCollaborative AugmentationThe Analytics Use-Case Approach: Finding Workflows to AugmentPhase 1. Idea: The Initial SparkPhase 2. Concept: Structuring the IdeaPhase 3. Proof of Concept: Testing the WatersPhase 4. Prototyping: Shaping the ConceptPhase 5. Pilot: The Test RunPhase 6. Product: Full DeploymentMaking the Make-or-Buy DecisionDecision ScenariosOverarching Success FactorsBalancing Automation and IntegrationThe Use-Case LibraryTechnical Requirements for Implementing AAInfrastructure Setup ChallengesIT System Integration ChallengesGovernance ChallengesConclusion
6. Augmented Frames
Business Objects and Frame UnitsUnderstanding FramesKey Features of FramesFrame TypesFrame EnginesFrame Engine Types Attribute AggregationEngine InterfacesResult Objects Implementation ChallengesFrame AgentDissolving FramesIdentifying TypesTranslating Frame UnitsEnriching FramesOrchestrating CallsStandardizing ResultsCentral RepositoryMonitoring and Performance AnalysisUser Access and SecurityUser InterfaceFrame DissolverFrame AdapterDealing with Group VariablesDealing with Bottom-up Business Object StructuresDealing with Unconnected Business ObjectsFrame CreatorCase Study: AP/TP Frame EngineInfrastructure and TechnologyAn Iterative Approach to Introducing Augmented FramesIteration 1: Free Frames and Frame EnginesIteration 2: A Frame Agent and Frame AdapterIteration 3: The Frame Dissolver, ID Frames, and Indexed FramesIteration 4: Static FramesIteration 5: Dynamic FramesIteration 6: The Frame CreatorIteration Wrap-upConclusion
7. Applied Examples
The Underwriting Process Types of Augmented Workflows in UnderwritingThe Workflows in DetailExample 1: Location Workflow Situation and Problem StatementSolution OverviewSolution BreakdownExample SummaryExample 2: Benchmarking WorkflowSituation and Problem StatementSolution OverviewSolution BreakdownExample SummaryExample 3: Proposal WorkflowSituation and Problem StatementSolution OverviewSolution BreakdownExample SummaryExample 4: Improved Forecasting in Agile ProjectsSituation and Problem StatementSolution OverviewSolution BreakdownExample SummaryExample 5: Quick Sales IntelligenceSituation and Problem StatementSolution OverviewSolution BreakdownExample SummaryConclusion
Index

About the Authors

Content preview from Augmented Analytics

About the Authors

Willi Weber is head of data analytics at HDI Global SE, a leading German industrial insurer, who has been at the forefront of transforming the business from a data-reactive company to a data-progressive one and paving the way to an insight-driven future. With a background in information systems, Willi was an early believer in the power of data analytics to drive business success. He is on a mission to create broad analytics awareness, drive transformation through use cases, and establish a culture of analytics in a decentralized approach at HDI Global SE.

Tobias Zwingmann is a leading expert, speaker, and author on artificial intelligence. In his role as managing partner of the German AI advisory firm RAPYD.AI, he helps B2B companies around the world innovate and grow their businesses with AI and machine learning. Prior to cofounding RAPYD.AI, he worked for more than 10 years in a corporate setting where his responsibilities included creating a company-wide data strategy and building out data science use cases. He also authored the book AI-Powered Business Intelligence (O’Reilly).

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Augmented Analytics

by Willi Weber, Tobias Zwingmann

About the Authors

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.