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"I continue to be amazed at how creative people are leveraging data and information through advanced
analytical methods to achieve new insights and deliver business and scientific results."
Stephen J. Ruberg, PhD Eli Lilly & Company
"In every vertical market, customers, investors and regulators are not satisfied with firms that simply 'keep up.'
They want you to lead - and the only way to do that is through the insightful and innovative use of powerful
analytics."
Thornton May, Anthropologist and Futurist
"It is not my job to have all the answers, but it is my job to ask lots of penetrating, disturbing and occasionally
almost offensive questions as part of the analytic process that leads to insight and refinement.
Gary Loveman, Chairman of the Board,
President and CEO, Harrahs Entertainment
"In business, as in baseball, the question isnt whether or not youll jump into analytics. The question is when.
Do you want to ride the analytics horse to profitability or follow it with a shovel?"
Rob Neyer, Author and Senior Writer, ESPN
By the end of the decade, predictive analytics will go from a differentiator to a must have requirement for
doing business.
MIT Sloan Management Review
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Competing on Analytics
Competing on analytics is
better the Science
Dispassionate analysis
Data and statistics
Computers
Discipline and rigor
Competing on analytics is
better the Art
Passionate advocacy
Informed Intuition
People
Creativity and insight
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More Aggressive
Competitive
BI
BICapability
Strategy
Pioneering
Foundational
Less Aggressive
Basic
Local (primarily
Regional
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BCBS Plan
National
(Presence in multiple
markets)
1
(Competing in markets
beyond a single Region)
Humanas Journey
Starting from decentralized, siloed analytics
that typify many payer organizations
Humanas efforts to date to realize analytical
value through an enterprise competency satisfies
the criteria for Stage 3 analytical aspirations.
Humanas subsequent progress toward
establishing that analytical competency at an
enterprise level satisfies a Stage 4 maturity
rating and . . .
positions it well to attain the Stage 5 Analytical
Competitor rating.
Source: International Institute for Analytics HLSARC Leading Practice Brief #8 - Humana
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Humanas Journey
Source: International Institute for Analytics HLSARC Leading Practice Brief #8 - Humana
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The Question?
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US Bureau of Labor
Job Titles
Projected
Total #
Growth 2018 Expected
Projected
Top 10%
Median Income
Statisticians
13%
25,500
$72,610
$117,190
Operations
Research
Analysts*
22%
76,900
$69,000
$118,130
Management
Analysts
24%
925,200
$73,570
$133,850
Actuaries
21%
23,900
$84,810
>$160,780
Metricians?
Bio-staticians?
Epidemiologists?
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Analytic Offerings
University Masters Programs
US 140 programs/99 schools
Canada 9 programs/9 schools
Seminar Programs
Not for profit
For profit
Society of Actuaries
Basic Education
Continuing Education since 2003
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Our Approach
Team of experts
Data based decision making
Common terminology
Business Analytics, Advanced Business Analytics, Predictive Analytics
Initial focus
Life and health
Traditional employers
Continuing education solutions
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Joan Barrett
Guillaume Briere-Giroux
Jack Bruner
Ian Duncan
Kim Dwornick
Alice Kroll
David McLeroy
Kevin Pledge
Jacques Rioux
Lisa Tourville, Chair
Mike Boot
Stuart Klugman
Onserio Nyamweya
Sara Teppema
Meg Weber
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Time Series
Complexity
Hypothesis Testing
Geomapping / GIS
Stochastic Processes
Mixed Effects Models
Support Vector Machines
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Departing Thoughts
Lots of work left to do to determine if the Society of Actuaries should add
special training, certifications or designations to encourage Actuaries in the
learning of advanced analytics and its techniques.
Me? I want kids coming out of college thinking Actuarial Science is fun and
exciting and will take them down the path to do all of the cool analytics they
are hearing and learning about!
Actuaries are not only smart. We can do amazing things outside of what has
been considered the traditional world of actuarial science. We want to set
ourselves up to make that happen!
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