Deliver hindsight, insight and foresight
Analytics is on the forefront of the C-suite's agenda these days. Operating in today's complex, highly regulated business environment, leaders can no longer just "trust their gut." Most companies already have at least a subset of the capabilities they need to engage in sustainable analytics. The challenge, is to push those capabilities even deeper into the organization – from business executives to the front lines. It requires changing the way companies look at the business, and at the information itself.
Sustainable analytics is a journey, not a project. Organizations that have mastered applying analytics to support enterprise decision-making tend to focus on seven analytics principles as they strive to accelerate workforce adoption and capture more value:
- Start where you are – Understand the current state and pick a starting point for implementation. An honest self-assessment is the first step in understanding current capabilities - and the gaps that need to be closed.
- Ask crunchy questions – Knowing which questions to ask - where the most relevant and valuable insights are likely to be found – is the foundation of any analytics initiative.
- Listen carefully – Signals are everywhere and the ability to decipher and integrate these signals into a coherent reflection of performance is vital.
- Accelerate insights – It is essential to automate information delivery to processes and people, and automate responses as much as possible so that decision-making is sped up and action can be taken with certainty, at a lower cost.
- Enhance visualization capabilities to engage users – The method of presenting information is just as important as the information itself. It must be in a format that engages the user and promotes digging deeper to find answers that may otherwise be overlooked.
- Build a fact-driven culture – To operate in today's complex, highly regulated business environment, leaders can no longer just "trust their gut." Leading organizations are building a fact-driven analytics culture to drive streamlined execution of business processes.
- Practice right-fit analytics – Selecting the right analytics tools and technologies is critical. Invest in tools that fit now and that will be flexible and powerful enough to grow with the organization.
Are you ready to go? Learn more about how to move your organization beyond the hindsight of traditional business intelligence towards deeper insight and distant foresight.