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Business leaders have started to rely on data analysis in their organisations, often through deployment in highly targeted areas. The challenge is to push analytic capabilities deeper into an organisation to seek the predictive insights that deliver competitive advantage on a sustainable basis. Analytics needs to become part of an institution’s standard process for decision-making.
However, while organisations have historically invested heavily in technological solutions to managing their data, it is increasingly clear that technology systems alone are unlikely to deliver predictive insight.
Instead organisations need to improve the alignment between their analytical techniques and their business needs, adapt skill sets and improve interpretative capabilities. Leading organisations are already aligning their analytics capabilities to support board-level strategy.
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