Deloitte Public Sector Analytics Bookmark has been added
Deloitte Public Sector Analytics
In the current economic climate of costs and workforce cutting, if public bodies are to continue delivering the core public services their citizens require they must become more efficient than ever in the way they operate.
Analytics provides public sector organisations with solutions by enabling them to make evidence-based business decisions. These improve both the efficiency and quality of services delivered, and encourage an enterprise wide view of the business rather than the traditional siloed approach. Effective analytics requires deep industry and sector knowledge, broad functional capabilities, a high degree of technical sophistication. Deloitte combines all of these strengths in its business analytics services.
Why open data is so important
Used wisely, data creates opportunities for organisations to make more robust decisions, uncover cost savings and get to know their customers better.
Open data, employed in combination with open platforms, expand the network of minds and unlocks the data’s latent potential. Examples include:
- APIs (Application Programming Interface)
- Open standards
- Open licences.
However, the companies and entrepreneurs using open data need to be nurtured and supported if they are to succeed.
The global economic downturn has created an unprecedented set of challenges for workforce planning and management in many public sector organisations. In particular, the need to ensure that citizens continue to receive core services whilst reducing the cost of the delivery of those services.
Traditional responses to these issues are simply not viable options, and as a result public sector clients require new approaches and insight to solve for these issues.
Financial management and forecasting for any organisation is never easy, but public sector organisations are facing unprecedented fiscal challenges such as:
- Increased regulation and compliance requirements
- Reduced budgets
- A drive to radically improve transparency
- Evidencing of ‘value for money’ to the public.
This means that now, more than ever, public sector organisations need innovative and real-time solutions for their financial reporting and management challenges.
In the 21st century, public sector organisations have to significantly change the way they both target and deliver services to their ‘customers’, the citizen.
A few of the problems facing public sector organisations include:
- Reduced budgets
- Competing private sector alternatives
- An exponential growth in ‘citizen awareness’ about how services are delivered.
They combine to demand a new approach to understanding the needs of the ‘customer’; one that is essential if the public sector agency is to remain relevant, efficient, and cost-effective to the taxpayer.
Customer and Growth Analytics offer public sector organisations a collaborative fusion of advanced statistical analysis and business advisory services. Meeting the changing requirements of the citizen landscape, they provide deep insight into the needs of their citizen base and their likely behaviours in response to any given action.
With this insight, clients can provide the right services to the right groups of citizens at the right time, whilst significantly improving cost efficiency and customer satisfaction.
Risk & Regulatory analytics
As scrutiny on public sector budgets has increased over the last five years, so too has the focus on regulatory compliance and risk management within public sector organisations.
This has led the culture of organisation controls and monitoring solutions for regulatory and risk purposes to shift from a ‘reactive’ approach to a ‘proactive’ one.
However, in recent years an increasing number of regulations have continued to threaten the public sector with the risk of sanctions, penalties and a loss of public trust. These include:
- High profile fraud and corruption cases
- Increasingly complex anti-bribery, anti-money laundering and anti-fraud regulations.
Risk & Regulatory analytics enables public sector organisations to stay ahead of the curve, by leveraging technology-based solutions that build upon advanced analytics and signal detection techniques, to make sharper controls and smarter monitoring solutions.
Data has been referred to as the new raw material of the twenty-first century. And like any other raw material, it needs investment to locate, extract and refine it before it yields value.