By Rob Starr, Big4.com Content Manager
Recently , EY announced its global Analytics-as-a-Service (AaaS) platform, EY Synapse, which will enable organizations to operationalize analytics-driven insights more quickly and more cost effectively across multiple locations by the combination of proprietary technologies and advanced analytics capabilities. Chris Mazzei, global chief analytics officer, EY, filled us in.
Can you define EY Synapse in relation to Analytics-as-a-Service (AaaS)?
EY Synapse accelerates the delivery of analytics-driven insights that businesses can use to compete and operate more effectively. The EY AaaS capability is a combination of technology, IP
assets developed by EY, and our people’s business, sector and functional expertise. The platform offers three advantages to businesses:
• Capabilities to jointly develop and leverage EY insights against their data;
• Economical and alternative to internal development; and
• Ability to rapidly advanced analytic reports based on changing markets, strategies and environmental factors.
EY Synapse offers an accelerated ramp-up, enabling companies to get up and running with analytics much faster, access to top skills – backed by EY’s highly skilled analytics professionals in a market where there is a shortage of talent – and a cost effective,
“pay as you go” structure, often a monthly fee, allowing for flexibility to increase or decrease the services as needed versus making a large investment commitment in people, hardware and related analytics technologies when bringing it in-house.
How does this new offering expand EY’s analytics managed services capabilities?
EY has been delivering managed services for 10 years. Innovative solutions were developed from different service lines, sectors and geographies to address market specific demands.
Based on our global and multi-national clients who operate across borders, we have aligned our worldwide analytics-as-service capabilities on a common global fabric, EY Synapse. By having a standard, global AaaS fabric, our clients benefit from the consistency in delivery model and processes; yet are able to leverage a much broader array of analytics solutions, technologies (such as local cloud constructs to match to local requirements) and capabilities because they are made available from centers around the world.
EY Synapse expands EY’s analytics managed services capabilities with a flexible technology architecture and framework for clients worldwide. It enables organizations to operationalize analytics-driven insights more quickly and more cost effectively across multiple locations or geographies.
How will EY help clients with the behavioral alignment required to drive and sustain value from data analytics?
In addition, EY can help clients with the behavioral alignment required to derive and sustain value by addressing the “human factors” related to organizational changes – such as company culture, organizational processes, and the skills, training, and internal communications and incentives required to drive and sustain value from data analytics.
To do so, we define the technical side of analytics as “Analytics Production” and the behavioral side as “Analytics Consumption.” Too often, the consumption of analytics is underestimated and we feel it is critical to achieving success.
This is the formula we use:
Technical capability + Behavioral alignment
Analytics production + Analytics consumption
Infrastructure & tools + Organization & process design
Data quality + Culture & leadership
Data science + Learning & development
Here are some examples of how we have helped clients with the consumption of analytics:
• We helped a national railway company use analytics to improve safety and performance, by considering in a holistic way the elements of purpose-led transformation, data and analytics insights, training, process design, and employee empowerment.
• We helped a utilities company use analytics to increase customer satisfaction by examining customer segmentation models, new marketing programs, tailored communications and customer services processes.
What are some of the AaaS solutions delivered on the EY Synapse platform?
AaaS solutions delivered on the EY Synapse platform include:
Pharmaceutical analytics: EY Pharma Business CASE® (Commercial Analytics Suite) is an end-to-end suite of global commercial analytics that drive tangible client returns through actionable business insights across sales, marketing and market access. CASE® provides EY’s bio-pharma clients with the ability to answer questions such as how to shift to an outcomes model to address pricing pressures, while delivering value to the patient and payers across multiple channels and markets while simultaneously driving commercial profitability. CASE® is delivered on the EY Synapse platform and incorporates big data and integration, analytics and business transformation. Read more here.
Health care analytics: EY Envision provides health organizations with advanced analytics that assist clients with information-driven transformation in the areas of cost, quality and patient access and experience. Read more here.
Retail customer analytics: EY Hex provides analytics against any target entity of interest, through the creation of an Entity Analytic Record (EAR). An example includes retail customer analytics that aggregates data from multiple sources to a single connected customer record, leverages a big data platform specifically designed for customer analytics and processes trillions of calculations per hour needed to score offers based on customer interactions linked to loyalty programs and products for online or physical stores. Read more here.
Cost management analytics: EY 3D Spend Analytics delivers a complete picture of an enterprise’s actual spend, spend process integrity and overall spending trends, which enables wiser, smarter, fact-based decisions. Read more here.
Forensic data analytics and sciences: EY’s Forensic Data Analytics and Sciences (FDA&S) solution combines the extensive use of big data and statistical and qualitative analysis, in conjunction with explanatory and predictive models, to monitor and identify issues and areas warranting further review. EY’s FDA&S offerings comprise proactive and reactive methodologies that leverage the information contained in large-scale, structured and unstructured client data sets. This allows EY to more efficiently detect and investigate instances of error, waste, misuse, abuse, corruption, noncompliance and fraud, or to assist in a regulatory or litigation response. These managed services can be provided on premise or via securely hosted infrastructure. Read more here.
What’s in the future?
Going forward, we will deploy additional technologies and our AaaS service offering will broaden. Given that data and analytics are the fuel for all things digital – leveraging cloud and mobile technologies – the demand for AaaS will only continue to grow, EY has a comprehensive pipeline of functional and industry-specific AaaS solutions to be delivered on the EY Synapse platform which we will continue to roll out as they become available.