Obinna Dike has been working for Citi since 2011. He is an experienced software engineer who loves working with data and business analytics.

The core of market advantage is being better than the competition. However, there are several issues with this. It is impossible to be all things to all people. This is why multinational corporations such as Microsoft, Amazon, and Walmart have different business models for different market segments and niches.

Competitive advantages and differentiations often come from specialization. In its turn, specialization comes at a high cost: it requires significant investments, time, and skill development. Therefore, for many corporations, a big part of their strategy is figuring out where their efforts will bring best returns.

Investments always carry risks. One of the risks of specialization is that it will lead to skills that are not transferable. A corporation may spend time and resources educating its employees or hiring a new work force to only find out that it was all for nothing. Similarly, as an example, having the best supply chain in the world is useless when developing effective strategies for one-on-one customer engagement. For most organizations, it’s a matter of picking two or three fields of specialization and being okay everywhere else.

Business analytics, however, is free of this constraint. It can apply the same principles, tactics, and strategies to a number of fields. Unlike other departments, it is completely transferable across the enterprise.

The beauty of dealing with numbers and mathematical models is that they can be reused across many domains.

Every business department faces unique challenges. For example, marketing needs to figure out how to attract and retain customers while growing revenue. Sales departments need to close deals in a cost-effective manner. Finance departments are focused on controlling expenses and costs while allowing for revenue growth. The fraud unit needs to prevent losses.

Usually there is very little overlap between these different parts of an organization. Being an experienced fraud investigator rarely helps when it comes to marketing. Knowing how to effectively engage customers is different from having skills and knowledge about pricing models.

At the same time business analytics can help all the described units. Measuring and analyzing retention targeting can help reduce churn. Identifying collections with the highest probability of recovery can increase recovery rates for the fraud department.

These problems are worlds apart from each other, yet business analytics and predictive modeling can improve the outcomes for all of them.

Hiring qualified software engineers like Obinna Dike Citi, Citi professional, can help businesses develop insightful analytics platforms and achieve their business goals faster and easier.

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