Achieving Analytics Excellence
Part Two: Building the analytics Center of Expertise
How to flourish in a chaotic marketplace: It’s a long-standing challenge that encompasses economic changes, tightening regulatory environments, technological trends and innovations, and the formidable pressure to attract and keep increasingly savvy customers. The obstacles to most effectively meeting this challenge are steep: financial market chaos, slow growth and continued economic pressure, the need to constantly refine the product mix, increased demand for transparency, pricing pressures from lower-cost competitors, increased marketing costs, and shifting product distribution channels — the list goes on and on.
Today, more than ever, many companies are looking to technological innovation to give them an edge on the competition. Technology itself, however, is not always the final answer. The way in which technology is leveraged and managed can often be more critical to achieving results than the technology itself.
This article is the second in a two-part series by Jane Griffin, Deloitte Analytics Americas Leader, on how companies can learn to thrive in the chaos by designing, organizing, and building an analytics Center of Expertise (COE). With a COE in place, companies can realize the benefits of enhanced collaboration between business and technology and increased synthesis of analytics capabilities throughout the enterprise, giving knowledge workers and managers at various levels timely information they can trust.