The science of predictive analytics: Your data gets smarter

Transcription

1 The science of predictive analytics: Your data gets smarter

2 Imagine you could... balance workloads for nurses and improve patient care offer a competitive price for the products customers care about most identify the risk of asset failure and have the spare parts you need in stock maximize lifetime customer revenue across your hotel chain anticipate budget gaps before they happen Imagine you could make your data work harder. Infor Dynamic Science Labs 2

3 From data exhaustion to competitive advantage Data is all around us in the web we surf, the phones we carry, the machines we operate, and the cars we drive. Of all the world s data, 90% has been created in just the past two years. Every year from now, that data is going to double. And it s not just an increase in volume, but also a change in the types of data like multimedia data or generally unstructured data. A whole lot of data today is going to be a whole lot more and more complex data tomorrow. To make your investment in big data really pay off, you need to harness your data in an intelligent way so you can use it as a basis for making better, faster decisions and even selflearning decisions that can inform future actions. As part of Infor CloudSuite subscriptions, Infor Dynamic Science Labs (IDSL) builds machine learning and predictive analytics into Infor applications so that companies like yours can turn big data into a big competitive advantage. Businesses are approaching a tipping point. Perhaps you ve embraced the promise of big data. Maybe you ve already invested in capturing the information. Whether it s big data or just more complex data, what can you actually do with it? What does it mean? What can you learn from it? How can it help your business? Infor Dynamic Science Labs 3

4 Infor Dynamic Science Labs Our vision The next generation of enterprise software won t just collect, report, and distribute information. It will anticipate problems and respond with solutions. It will uncover opportunities and recommend next steps. It will drive strategies in all areas of business, from recruiting and staffing to asset management and pricing. How we re building it Infor Dynamic Science Labs is a group of scientists, mathematicians, economists, and engineers, driving the next generation of enterprise software. That means software that is smart, self-learning, and focused on the future. We work with customers and product managers to identify industry-wide challenges and then solve them using elegant but understandable scientific methods. Infor Dynamic Science Labs 4

5 What makes IDSL different? Data Science: More than a sales pitch Data Science, like Data Analytics, is a term so widely overused it s started to lose its meaning. We think about the word Science in a more rigid sense. We arrive at solutions through the Scientific Method proposing and testing falsifiable hypotheses so that opposing ideas can be questioned and verified. In other words, we put a strong emphasis on testing first with the team on the project, then across the IDSL organization, and finally with you. Solutions that are easy to understand We recognize the complexity inherent in analyzing Big Data, and so we take extra steps to make the solutions accessible to users. We achieve this by analyzing the data with a rigorous scientific approach and by explaining why a decision is being recommended in terms that can be universally understood. It s critical that the solution is intuitive and accessible or else it will go unused. Current projects Healthcare inventory optimization Infor Lawson Customer scoring and prioritization Infor CRM Distribution and manufacturing inventory optimization Infor LN, EAM, and M3 Distributor pricing Infor SX.e, M3, and A+ Nurse-patient assignment Infor Care Assignments Spare parts optimization Infor EAM and M3 Employee scheduling and retention Infor WFM and Lawson Infor Dynamic Science Labs 5

6 The IDSL approach 01 Discover 02 Cleanse 03 Describe & diagnose 04 Solve Every project begins with You provide the data and This is when we analyze the Based on our findings, we a problem a customer we validate in order to focus data identify patterns, examine utilize predictive algorithms problem. We work with on a core set of data. the outliers, and determine to model a solution. you to understand your cause and effect. Throughout pain points and how we this phase, we provide you can help. with our key findings to help you understand what happened and why it happened. 05 Test 06 Measure 07 Refine We review the model outputs Once the solution is in IDSL solutions are dynamic, with end-users to ensure that your hands we evaluate how self-learning, and always the right problems are being the algorithm is performing: evolving. We continuously resolved. Are the results Is it providing value to your evaluate and refine our actionable? Do they make organization? algorithms, add new data sense to users? After models sources, and keep you up to are validated, we work with date. Otherwise, even the Infor development teams to best solutions will ultimately build them into the software. find themselves stale. Infor Dynamic Science Labs 6

7 USE CASE: HEALTHCARE Can a charge nurse more effectively distribute workload, matching nurse skill sets with patient-specific needs? The challenge Nurses are chronically overworked and understaffed. According to a 2014 study conducted by Nursing Times and ITV, eight out of ten nurses reported they don t have enough time to give patients adequate care, and 25% believed they had put a patient s life at risk because they were too busy. Every day, it is the charge nurse s job to create an optimal staffing plan for the next 24 hours. He or she must balance each nurse s workload while also considering factors such as continuity of care, language, room proximity, and most important, matching the expertise of a nurse based on the needs of a patient. How we re solving it We are currently working with several healthcare providers to better understand their specific variables, objectives, and constraints. With this information, we can build an optimization model that obeys multiple constraints. One important step is to ensure that every patient is assigned to a nurse: Further, depending on the type of nurse and availability, each nurse may have different workload capacities. This would G constrain the number of patients they can see between F and G: After we test, review, and refine the solutions with our healthcare partners, we will deliver the solutions through Infor software, empowering charge nurses to easily create daily staffing assignments optimized for every nurse and every patient. Infor Dynamic Science Labs 7

8 USE CASE: B2B PRICING How can distributors optimize prices? Working closely with Infor customers, we are creating models that will help sales managers set prices that maximize both customer loyalty and their businesses margins. Relative intensities of customer characteristics for customer clusters Our price models allow What-If analysis to provide insight into the impact of future price changes. Instead of manually managing prices for each individual customer, our solutions will help sales managers maintain dynamic customer groups using customer dimensions such as cost to serve as well as real-time productspecific financial performance, seasonality, and price response data. The dynamic nature of these customer clusters ensures that they stay up to date over time as new customers are acquired and current customer purchasing patterns shift. Dimension 4 Dimension 5 Dimension 1 Dimension 2 Dimension 3 Infor Dynamic Science Labs 8

9 Through beautifully crafted software, Infor simplifies the way people work. And now, with Dynamic Science Labs and the power of predictive analytics, Infor is simplifying the way organizations make smarter, better informed decisions. Ziad Nejmeldeen Chief Scientist Infor Dynamic Science Labs 9

10 The team behind the science We are scientists, mathematicians, economists, and engineers, fittingly based in an epicenter of innovation: Kendall Square in Cambridge, Massachusetts. Our backgrounds range from astrophysics to chemistry, econometrics to operations research. We come to IDSL with experiences in predictive analytics, mathematical modeling, optimization, forecasting, and more. These scientific techniques can be applied across all industries while also specialized for a particular industry. Our focus is to help customers identify opportunities and then we create and validate solutions that will make decision-making smarter for your organization. Ziad Nejmeldeen Chief Scientist Bringing more than ten years of scientific expertise to the team, Nejmeldeen is responsible for supporting all aspects of prediction and optimization across each of the 12 industries served by Infor products. Prior to Infor, Nejmeldeen served as Vice President of Science at Quantum Retail. Nejmeldeen holds a B.S. degree from the University of California, Berkeley and a Ph.D. in Economics from the Massachusetts Institute of Technology. Infor Dynamic Science Labs 10

11 Get in touch If you re interested in learning more about predictive analytics in your Infor solution or collaborating with the IDSL team on a future project, contact your Infor representative or us at science.labs@infor.com. Learn more: infor.com/idsl Infor is fundamentally changing the way information is published and consumed in the enterprise, helping 73,000 customers in more than 200 countries and territories improve operations, drive growth, and quickly adapt to changes in business demands. infor.com Copyright 2015 Infor. All rights reserved. The word and design marks set forth herein are trademarks and/or registered trademarks of Infor and/or related affiliates and subsidiaries. All other trademarks listed herein are the property of their respective owners. This document is provided for informational purposes only and does not constitute a commitment to you in any way. The information, products and services described herein are subject to change at any time without notice. INFDTP en-US