Data mining experts this week took a breakfast audience on a tour of the data analytics 'journey' faced by business in the 21st century, from those businesses just embracing analytics to those where it is already part of the culture.

The breakfast tour was organised by Alternatives Group in association with Idiro Analytics, which provides advanced analytics to clients in Europe, Asia and the US.

Olivier Van Parys, head of analytics at Bank of Ireland, Richard Harris of Paddy Power and Ronan Brennan  (pictured) of LinkedIn offered insights into several of the most significant questions in analytics.

According to Charley Stoney of Alternatives: “There simply is no customer experience of any value without data analytics. It’s what informs every progressive business in pursuit of winning and retaining new customers.

Mining Data

In Association with

“Post-recession, the marketing landscape has changed utterly and now it’s about mining data to develop insights that make your brand or experience compelling enough to purchase. The challenge now for business is getting data analytics right and matching the right talent to that need.”

Harris came to Paddy Power from American Express, and found a "different stage of maturity” where lots of reports were generated from data but there was little insight. Things are different by now, he said. “We now have disciplined and well-structured teams operating in conjunction with the marketing teams to drive informed choices around strategy and planning.”

At Bank of Ireland, data analytics helps to customise the customer experience and provide timely, relevant and valuable engagement. For Van Parys, there is no opt out when it comes to data analytics – “it’s essential for every organisation, not an optional extra”.

Ronan Brennan believes there are two types of business – those like LinkedIn where it is absolutely central to the operation of the service, and those where data is on the periphery.

Evolving Rapidly

“Data analytics is evolving rapidly,” he said. “Those who don’t embrace it fully will be left behind – it’s that simple So, for competitive edge and to plan for a successful future, it’s all about expanding the use of real insights and analytics to generate increased revenues.”

The panel agreed that finding the right analytics talent to match corporate needs is an issue, an opportunity that Alternatives wants to exploit.

According to Charley Stoney: “The type of solution that we and Idiro provide is gaining in popularity, where there’s a marrying of the artists (marketers) with scientists (data analytics) to provide project teams for projects.”