the dashboard dec 2015
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Data-Driven Learning The Rise of Analytics in Higher Education
IBM Planning AnalyticsEverything you need to know
The University of Tasmania Client Feature
CFOs Seek a Single Source of TruthPowering Data-Driven Business Transformation with Adaptive insights
Zac Anstee: TriathleteMeet the Tritons
DASHBOARDTHETr idants Quarterly Magazine | Issue 02 Dec
A Woman in DataInsights on Tableau, Las Vegas and Life from Eva Murray
Hamba Kahle.(Go well)
In late October, I had the fortune of attending the IBM Insight event in Las Vegas, and yes, this time around Im prepared to share with you what I experienced. When a technology giant like IBM acknowledges the impact of open source platforms like Hadoop, R and Spark, we know things are changing quickly. In fact, IBM is encouraging its customers and business partners to develop solutions that combine the best of IBM and open source.
So what does this mean for you? e answer is: access to unbelievable computing power and analytical processing accessed as-a-service with consumption-based pricing, all running on a cloud near you. Organisations no longer have to own it all, which means less energy spent on building internal capability and capacity, and added focus on driving speci c business results.
I also left the Las Vegas event with a number of new additions to my lexicon; the data whisperer, dark data and yet another acronym S.M.A.C which stands for Social, Mobile, Analytics and Cloud. My personal favourite though was Wine4.me; check it out to see how machine learning meets sommelier.
It would be remiss of me to not mention all the great work that has gone into making this edition of e Dashboard. Its a wonderful collection of content, client and personal stories that will inform you and connect you to our team. e photo collage is the result of a spontaneous need by many of our sta to celebrate place.
On behalf of our wonderful team here at Tridant I would like to wish you a festive time over the Christmas break. Its a great opportunity to spend time with family, friends and pets...even be a little courageous and get o the grid for a bit.
Alec JefferyDirector, Tridant
The Dashboard | Issue 2 Page 01 | Editorial
The Dashboard | Issue 2 Page 02 | Menu
Zac AnsteeMeet the Tritons | Page 12
IBM Planning Analytics
Analytics in Higher
A Woman in Data
Eva Murray | Page 18
The University of Tasmania
Client FeaturePage 14
PhotoGallery Page 22
CFOs Seek a Single Source of Truth Page 03
Newsroom Page 25
Events Page 26
Global Survey Reveals
CFOs Seek aSingle Source of Truth
to Power Business Transformation
On the 21st of October, Adaptive Insights unveiled its CFO Indicator Q3 2015 report benchmarking chief financial officers (CFOs) perspectives on their evolving roles as they lead business transformation across their organizations in an increasingly data-driven world. The global survey of 435 CFOs focused on data analytics trends, business collaboration strategies, top financial mistakes most companies make, and 2016 plans and predictions.
This quarters CFO Indicator reveals that todays CFOs desire data integrity and a single source of truth to drive accurate insights and actionable business transformation. While CFOs predict the amount of data they manage will greatly increase by 2020, they face significant data challenges with respect to the accuracy and timeliness of data. The majority of CFOs reported that keeping data siloed (69%) and having inaccurate data for forecasting and planning (40%) were among the top financial mistakes most companies make.
To combat the data divide across departments, CFOs are prioritizing more holistic and collaborative planning and analysis, partnering with key C-suite executives to deliver aggregate views of critical business information and working most closely with the COO (66%), head of HR (34%), and CIO (30%).
Faced with a challenging macroeconomic environment and the need to provide a more holistic view of the business, CFOs are increasingly becoming the knowledge executive in the organization, said Tom Bogan, CEO, Adaptive Insights. As both the volume and sources of data increase, CFOs are working across departments, driving toward a single source of truth that gives them a more consistent, comprehensive view of the organization in real time. This view will ultimately provide more accurate business insights and inform more effective business strategy.
Article originally published on http://www.adaptiveinsights.com/newsroom/press/global-survey-reveals-cfos-seek-single-source-of-truth-to-power-data-driven-business
The Dashboard | Issue 2 Page 03 | CFOs Seek a Single Source of Truth
Click to view Infographic
Read Full Article Here Learn More about Adaptive Insights
The Rise of Analyticsin Higher Education
The Business of Higher EducationMany express the fear that higher education is becoming a business, and that analytics are a harbinger of that change. Data, isnt a threat however, in fact it provides a basis for better decision-making. Jacqueline Bischel1
Business organisations have been storing and analyzing large volumes of data since the advent of data warehouse systems in the early 1990s, so it is no surprise that in more recent times, the higher education sector has begun to adopt practices to ensure organizational success at all levels, due to arising economic, political and social challenges, such as declining government funding, declining support from business and private sectors, growing regulatory demands for transparency and accountability, declining admission due to increasing tuition, upsurge in high school dropouts and increasing operational costs.
In a recent paper, Ben Daniel2 notes that corporate-academic partnerships are increasing, and corporations require higher education institutions to demonstrate an effort to develop and utilize technologies that support research outputs and knowledge transfer commercialization. Continued >
Page 04 | Data-Driven LearningThe Dashboard | Issue 2
However, there is a substantial difference between the kinds of metrics and indicators that are meant to measure students and consumers information needs. Unlike businesses that may ask questions like, who are my loyal customers? or what type of customer is likely to increase his/her spending?3 higher education institutions are concerned with addressing questions about retention, admissions, fund-raising and operational efficiency, and therefore may ask questions such as, which students are least likely to drop out? or which alumni are likely to make large donations?
The Benefits of Utilising Analytics
Analytics is viewed as something relatively new in the realm of higher education. Some view it as a buzzword, perceiving the investment in analytics as non-essential to their institutions progress, however, a strategic investment with clear objectives can help in advancing areas such as resource allocation, student success and finance.
Analytics are used mostly in the areas of enrollment management, student progress and institutional finance and budgeting, but potential areas may include:
This figure demonstrates requirements in place for analytics amongst a focus group consisting of IT professionals and business analysts working in Higher Education 1
One of the most favorable uses of analytics in education is to help students learn more effectively, and ultimately graduate. Reports can be developed to reveal patterns, trends and exceptions indicating, for example, course strengths and weaknesses, aligning resources with student need, and tracking student progress.
The Dashboard | Issue 2 Page 05 | Data-Driven Learning
Central IT Student Learning Progress of Strategic
plan Alumni/advancement Research administration Library Cost to Complete Degree
Human resources Facilities Faculty promotion and
tenure Faculty teaching and
performance Procurement Faculty Research
Click toView Infographic
Watch a Video demonstratinghow Text Mining can help decrease student attrition.
Triggers can also be developed to send a note to a teacher, indicating that a student is at risk of failure, the goal being to improve student performance and to demonstrate the accountability of the institution4. Other uses include:
Understanding student demographics and behaviors Optimising use of resources Recruiting students Creating data transparency/sharing/federation Demonstrating higher educations effectiveness/efficiency
Improving administrative services Containing/lowering costs of education Improving faculty performance Reducing administrative costs
Can we afford not to?
One of the perceived barriers to adopting analytics is affordability. The costs of project implementation, plus hiring and training the right people can seem daunting, however, there are many compelling reasons to make the investment as listed in the previous section. Cost also becomes less of an issue when senior leadership agrees that analytics is a priority, and part of the strategic plan especially when it is demonstrated how the use of analytics can help reduce costs or streamline processes1.Advisory service firm, Eduventures5 illustrates the importance of meeting student enrollment targets, and the potential losses that may occur by not adopting an analytics program, with the following scenario (example reflects tuition fees in USD):