Yesterday, I had the privilege of being part of the American political process by representing Teradata in front of the House Ways and Means Subcommittee on Human Resources. Chairman Geoff Davis (R-KY) is sponsoring H.R. 3339, the Standard Data and Technology Advancement Act. The bill is a first step toward the broader adoption of analytics within government agencies to improve program service delivery and to find insights essential for effective risk management, cost containment and mission success.
Michael Lewis’ 2003 book Moneyball: The Art of Winning An Unfair Game captured how analytics can change the 100-year-old sport of American baseball. The lessons from that book demonstrate the benefit of using analytics to be more effective with limited resources.
It’s no secret that our government is faced with exceptional budget cuts and constraints. However, we know that big analytics – applying advanced analytics to massive data sets – can help federal agencies eliminate waste, fraud and abuse and meet complex, large-scale mission demands. Corporations transform data into competitive advantage by analyzing customers’ experiences and preferences, creating new products, streamlining operations and improving service delivery. Government agencies adopting a similar approach to data analytics are more productive and more effective. Every dollar saved from waste, fraud, and abuse is another dollar that can be applied to other programs.
The State of Michigan saves $1 million per business day by integrating data and applying analytics, and then using that information to improve programs, set policy, and understand how to best serve program recipients and taxpayers. Imagine what can be done at the scale of the federal government when applying big analytics.
Consider the lessons from Moneyball. Every day that the government delays implementing big analytics means money wasted and millions of Americans not receiving essential services more efficiently and more effectively. Teradata stands ready to help government officials understand the possibilities big analytics presents.
If you want to learn more about the possibilities of big data and analytic technology, Teradata is part of the Big Analytics Roadshow coming to Chicago, Boston and New York. Visit the conference web site for more information about location and speakers.