Building an analytical ecosystem for today, tomorrow and beyond
There’s really no debate anymore on whether or not to add analytics activities to an organization’s business. Instead, the discussion centers on how to manage these new capabilities. Whether a company is seeking to “compete on analytics,” or simply use analytics to make better, more informed decisions to bolster its competitive market position, it will need an analytics organization that is staffed with the appropriate tools, a good mix of skilled analysts and an implementation strategy that is “right” for the organizational structure.
In any analytics organization, there is a set of overriding goals that are typically benchmarks for success including:
- Supporting decision makers with analytical capabilities
- Providing a home for analytical talent to share ideas and collaborate
- Fostering visibility for analytics throughout the organization
- Creating standardized approaches, tools and processes
- Researching and adopting new analytical practices
- Reducing the cost to deliver analytical outcomes
- Developing and monitoring capabilities and experience
Different priorities for these goals may lead to different implementation strategies. There are many alternatives for building an analytics organization that is the right for the business it serves. In this article, Tom Davenport, Independent Senior Advisor to Deloitte Analytics and Jane Griffin, Americas Deloitte Analytics leader, discuss common models to structure analytical capabilities, effective leadership strategies, the strengths and weaknesses of alternative reporting relationships and how to nurture an analytical ecosystem that is sustainable in order to reap the tremendous value and benefits of analytics.