INFS5700 Introduction to Business Analytics
Week 8: Design Thinking for Analytics (T2 2022)
• Recap on Week 7 topic – BAM
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• Topic on Design Thinking
Business Analytics Methodology (BAM)
• It provides managers with a process framework and a practical set of tools for developing and analysing an organization’s business model and analytics portfolio
• ThepurposeofBAMapproachistosupportan organization in gaining value from BA – from initial thoughts right through to completed analytics
Business Analytics Methodology (BAM)
• A top-down analysis process that focuses on the busines model of the organization and seeks to develop a business analytics development portfolio
• A bottom-up approach that is grounded in data, tactical work, model building, and technology
Business Analytics Methodology (BAM)
1. Problem Situation Structuring 2. Business Model Mapping
3. Business Analytics Leverage 4. Analytics Implementation
Problem Situation Structuring
Business Model Mapping
Business Analytics Leverage
Opportunity Matrix
• ItusesBMCdevelopedtoidentifyleverage points for business analytics – the application that are most likely to lead to creation of value and the best use of scarce resources
• ThecomponentsofBMCaresystematically mapped in matrix form against potential analytics applications
Opportunity Matrix Example – GoGet
• Front-office business analytics opportunities matrix for GoGet
Opportunity Matrix Example – GoGet
• Back-office business analytics opportunities matrix for GoGet
Analytics Leverage Matrix
• To categorise a large number of opportunities identified in the opportunity matrix and to reduce this to a working list of potential projects
• The leverage matrix is created by considering two dimensions, i.e., perceived difficulty and potential for value creation. Together, they give four quadrants:
➢ Quick wins: These are high-value areas where analytics can be applied to create value with relative ease (e.g., using technologies and techniques that are tried and tested)
➢ Major projects: These are also high-value areas, but they are considered more difficult to achieve
➢ Fill-ins: These are lower-value projects, but as they are not considered to be difficult to implement, they may still merit inclusion
➢ Hard slogs: As these analytics projects are likely to be low in value and difficult to achieve, they are best avoided
Analytics Leverage Matrix Example – GoGet
• Quick wins: Building a predictive model to identify customers at high risk of causing vehicle damage
• Major projects: Modelling customer lifetime value (a key part of managing customer loyalty and revenue generation)
• Fill-ins: Predictive modelling of performance of technology platform (but not currently a business priority)
• Hard slogs: Optimizing the fleet through simulation models
Design Thinking
Why Design Thinking?
• Facilitate the process of integrating and embedding analytics solution into the business process for value creation
➢ Paradigm shift from an ‘analytics world’ to a ‘business universe’ perspective
➢ Human-centred designs and outcome-oriented approach to to solve problems in a creative and innovative way
What is Design Thinking?
• Design thinking is a holistic approach that aims for innovation in a similar manner to the way designers would
• Design thinking is an iterative process in which we seek to understand the user, challenge assumptions, and redefine problems in an attempt to identify alternative strategies and solutions that might not be instantly apparent with our initial level of understanding
Design Thinking Process Flow Chart
Cumulative continuous improvement (KAISEN)
Persona Development (Anthropology)
End User persona aims to develop a rounded view of stakeholders (i.e.
people that will interact with your analytics use case) Diverge
Storyboard
A narrative storyline that aims at putting theory into practice scenarios (acting script) to identify potential problems and generate problem statements
Opportunity Matrix
Explore analytics opportunities with ideas generation that could translate into solutions.
Leverage Matrix (Prioritise)
Opportunity Canvas
Sort ideas and opportunities according to practical implementation/value creation and prioritise for prototyping and testing. Converge
Tools to help operationalise DT process for Analytics
• It is the foundation of a human-centred design process
• Theworkyoudotounderstandpeople,withinthe context of your design challenge
• Yourefforttounderstandthewaytheydothingsand why, their physical and emotional needs, how they think about the world, and what is meaningful to them
Empathizing: GoGet example
• A two-day design thinking workshop, participants were provided with case study description and pre-readings in advance of the workshop
• A live-case session that is led by the representative from the case organization – GoGet
• Exploring the problem situation
Create a rich picture
➢Rich picture helps to identify a range of factors (e.g., data, organization, technology, process, etc.) affecting analytics development and value creation in an organization
➢It helps to identify strategic issues and priorities of an organization
GoGet car-sharing example
Business Model Canvas
• A template to define a new or existing business model. It divides the processes and internal activities of a business into nine different categories, each representing a building block in the creation of the product or service
• It helps to understand value creation and value capture by the business model of an organization
Construct Root Definition
➢ A root definition is a short textual definition of the purpose and means of the system to be modelled. The root definition should tell us what the system will do (X), how it will do it (Y) and why it is meaningful for it to be done (Z).
➢This can be encapsulated in template form as: A system to do X, by (means of) Y, in order to do Z
GoGet car-sharing example
• The goal is to identify a grand challenge or problem faced by the focal company/organization
• It should be a guiding statement that focuses on insights and needs of a particular user, or composite character
Define a problem: GoGet example
• Based on business analytics leverage matrix: one of the use cases was aimed at reducing the amount of vehicle damage caused by collisions
• The analytics use case can be expressed succinctly as a design challenge:
• Togeneratedesignsolutionspertinenttothe challenge statement
• Itrepresentsaprocessof‘goingwide’withconcepts and outcomes. It is concerned with ‘Flaring’ rather than ‘focus’
• Itprovidesalargerepositoryofdiverseideasthat are the source material for building prototypes to test with users
How might we reduce the incidence of vehicle collision damage?
Persona Development
• To explore the problem in a grounded way, empathising with the customer and thinking about the problem from their perspective (e.g., understanding of users’ needs, experiences, behaviours, and goal)
• Creation of archetypes to represent a person’s demographics, behaviours, beliefs, motivations, intentions
• It should be developed from perspective of people in the system (i.e., both external users, e.g., customer, or internal users, e.g., staff)
Persona Development: GoGet example • Persona Part A
An out-of-town customer, , 52-year-old female with a partner and three children. She works in finance and is visiting Australia on vacation with her family. A typical day on vacation involves sightseeing and trips out in the Sydney area. For some of these trips Frida and her family need a car.
Persona Development: GoGet example • Persona Part B
In second part of the persona profile, we see that Frida is worried about driving on the left-hand side of the road and with negotiating roundabouts – in America, they drive on the right and roundabouts are rarely encountered.
Persona Development: GoGet example • Extremecase
Stevie, a fraudulent customer who may damage cars deliberately.
Storyboarding
• It communicates a concept by visualising user interactions. They use the art of the narrative to focus on the experience of using company’s service/product
• Anexcellentwayofvisualizingthebusiness process and understanding the impact on the customer’s journey
• : GoGet example • Storyboard – Reducing vehicle collision damage
• To turn predictive analytics into actionable insight, we need to think about what to do with the output of the predictive model (the algorithm)
Prototyping
• Afterhavingdevelopedpersonaandstoryboard (Empathy→Problem Definition→Opportunities for Solution Design → Implement)
• Prototypingcanbedevelopedthroughsoftware, or build with physical materials (e.g., Blue-Tak, paper straws, cardboard, Lego) to give a tangible feel for the product or service
• Stakeholders can interact with prototype and provide feedback on design
• To help participants empathise more deeply with the problem situation
From Design Thinking to Business Case – Opportunity Canvas
• To document the use case after having elaborated it through design thinking
• It provides a basis for the preparation of a business case and presentation of the analytics use case to senior management for approval and funding
Opportunity Canvas
• Problems: what problem do users and customers have today that the solution addresses?
• Solution ideas: What are the product, feature, or enhancement ideas that solve problems for the target audience?
• Users and customers: Who are the users and customers that have challenges that will be addressed by the solution
• Solution today: How do users address their problems today? Any alternative solutions?
Opportunity Canvas
• Business challenge: If we don’t solve these problem for our customers, how will it affect our business?
• Solution use: What will customers do differently as a result of adopting the solution and how will that benefit them?
• User metrics: What specific user behaviours can be measured that indicate they try, adopt and place value in the solution?
Opportunity Canvas
• Adoption strategy: How will customer discover and adopt the solution?
• Business benefits and metrics: What business performance metrics will be affected by the success of the solution?
• Budget: What will our organization earn or save if the solution is created? What might it cost if the solution is not created?
Opportunity Canvas: GoGet example
Questions?
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