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Spring Training: Correcting Common Mistakes Regular Season: Cutting Costs/Become a Hero Post Season: Raising your Batting Average Visual Analysis: The.

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Presentation on theme: "Spring Training: Correcting Common Mistakes Regular Season: Cutting Costs/Become a Hero Post Season: Raising your Batting Average Visual Analysis: The."— Presentation transcript:

1 Spring Training: Correcting Common Mistakes Regular Season: Cutting Costs/Become a Hero Post Season: Raising your Batting Average Visual Analysis: The Value of Graphics for Risk Communications - RMG2111

2 Richard Denning President, Shelter Island Risk Services Phone: (631) 749-1535 e-mail: rfdenning@sirisk.comrfdenning@sirisk.com Website: http://www.shelterislandrisk.com/ Libby Christman Vice President of Risk Management, Ahold USA Phone: (717) 240 - 5573 e-mail: lchristman@ahold.colchristman@ahold.co Website: http://www.Ahold.com/ Naomi Robins Consultant and seminar leader on effective data presentation Principal, NBR Phone: (973) 694 - 6009 e-mail: Naomi@NBR-GRAPHS.comNaomi@NBR-GRAPHS.com Website: http://www.NBR-Graphs.com/

3 Improving Performance In The Post Season Richard Denning President, CEO Shelter Island Risk Services

4 Adapted from T. H. Davenport, J. G. Harris, Competing on Analytics

5 Analytics Improve Your Batting Average A fool is a person who expects different results when you do the same thing over and over.

6 Visualization deserves to move from the bottom of the batting order to clean-up Sloan Management Review: – 58% of organizations see analytics as a competitive advantage (2011 survey) – Up from 37% in 2010

7 Data Classes of Risk Data Data Claim Measurements HR info on all Employees Critical Dates Exposures (Fleet size, miles driven, etc. Organization

8 The Analytical Payoffs Time Control Confidence

9 Play Ball! Play Data

10 It’s a Team Sport Bounce ideas off others who bring specialist skills and experience

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12 The Danger of Numbers! Assume that your four Divisions: A, B, C and D All have the same average frequency rate of 5 claims per 100 employees

13 The Flaw of Averages

14 Inspiration for Better Graphics: Naomi B. Robbins, http://blogs.forbes.com/naomirobbins Wall Street Journal for financial reporting Sports Reporting for creative displays Edward R. Tufte, The Visual Display of Quantitative Information (two other volumes)

15 Software Visualization Tools (Excel compatible / not expensive) Palisade Software@RISK SAS InstituteJMP Tableau SoftwareTableau

16 16 Concentrating information is precisely how our brains work best:

17 CONCLUSION OPERATIONS COST ALLOCATION RISK SERVICES ANALYTICS

18 Questions and Answers Visual Analysis: The Value of Graphics for Risk Communications - RMG2111


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