Advanced Analytics
KLX feels that big data and advanced analytics are creating profound new opportunities for businesses, yet we found that only 5% of businesses are able to combine the right people, tools, data and organizational focus to take advantage. To realize the value of big data, organizations need strategic—and not merely technological—solutions. KLX’s strategy experience and analytical expertise help ensure that businesses build the right capabilities to mine data for insights that can enable better decisions and create value.
Our Advanced Analytics techniques provide several services to our clients:
- KLX develops advanced strategies, assisting clients in achieving a competitive advantage from their data pool and analytic capabilities.
- KLX aids clients in improving operational effectiveness and efficiency through an innovative use of data.
- KLX supports organization and capability building with our unique approach to change management.
While some sectors are further along than others when it comes to deploying analytics, big data presents opportunities for all companies to increase performance. In fact, KLX research demonstrates that the competitive edge to be gained from analytics is real. Businesses that are able to this to change the way they operate or to improve their products and services are twice as likely to be in the top 25% of financial performance within their respective industries.
Our advanced analytics formula is supported by a team of advanced analytics professionals and data scientists, with advanced degrees in fields ranging from statistics and applied mathematics to computer sciences. The team applies state of the art techniques and is equipped with the latest tools and technology. Depending on the engagement, KLX team members can act as advisors, executors of key tasks, or full team members supporting a multitude of analyses, including: predictive modeling, customer segmentation, experimental design, pricing optimization and more.
To be successful, businesses need to utilize meta data and analytics into their organizations to ensure that information and insights are shared across business units and functions.
Corporations looking at meta data often seek the power of new external datasets. While these new datasets can be valuable and are often leveraged in KLX case-work, we find that there is frequently a wealth of untapped opportunity for companies to more effectively use the data at their fingertips:
- We begin by setting the strategic philosophy for a Corporations analytics journey.
- Next KLX identifies the analytics use models that present the optimal value opportunities.
- With our strategy in place, KLX brings an analytical rigor approach through the expertise of our team, which can support a multitude of analyses, including: predictive modeling, customer segmentation, experimental design, pricing optimization.
As with many changing programs, embedding analytics within an organization requires a well-structured and carefully orchestrated approach. At KLX, we call that results. Results delivery predicts, measures and manages the risk associated with change. As applied to analytics, results delivery ensures that our clients are able to develop the internal capabilities and culture to act on the insights they uncover by identifying the critical behaviours that allow data to be factored into your decision making.