Best practices and key considerations before, during and after deploying an analytical initiative to maximise RoI and achieve a high impact on business and operations.
I’ve often seen analytics described primarily by way of the technical complexity of the techniques. In this article, I present a better approach than trying to do something technically complicated just because it may (or may not) yield more business value.
Being able to effectively measure a RoI on the back of an Advanced Analytics project is paramount. In other words, any Advanced Analytics project that is not business outcome driven is worthless.
Throughout industries analytics has taken on an almost ubiquitous nature of late. There are increasing demands for data scientists, open source developers and an in-house capability for providing actionable insights through data. But, can an analytics capability be provided by a data scientist or developers alone?
Analytics is being discussed more and more often in top table conversations, but why do so many organisations still struggle to get to grips with it?
Take the Analytical Maturity model presented in Thomas Davenport’s “Competing on Analytics”. Would you consider your organisation as having Analytical Aspirations or as a true Analytical Company?
The truth is that there are many factors and forces at work that help build a successful analytics project and/or programme. The ultimate goal is Actionable Insight