Enterprises Need to Get Past Buzzwords to Gain Value from Analytics – Part 2

buzzwords

(Continued from Part 1)

Analytics failing to touch the core of the company’s culture

We all grew up listening to stories about how culture molds the family tree. Didn’t we? Remember those times when our granny huddled us close and gave us some important lessons on culture? Things have changed a great deal now; technology powers the wheels of our lives, and it has become an integral part of our culture. Today, we do not just want to hear stories about how technology is changing our lives, but we make every attempt to be a part of a technology-driven culture. And analytics forms a vital component of this culture today.

Building an analytics culture in an enterprise is incredibly important in the era of big data. It’s far more important than any single capability, technology, or technique. But building a culture isn’t easy. There is a slight difference in building a culture today when compared to the past. You can’t build a culture with mere talks today. Thank the sophistication and intricacies in our lives for bringing in this difference. Getting a team of analytics honchos to preach about analytics or a bunch of glib words would not do much good in driving analytics as a culture. Additionally, just telling people to be data-driven and flaunting analytics capabilities will certainly not aid in building an analytics culture.

Bottlenecks arise because although most organizations use analytics today, they fail to breathe new life into their analytics capabilities. They easily voice out customers’ problems but fail to listen. Moreover, they fail to create good analytics habits that can fuel the analytics culture. To address these tight spots, analytics should be ingrained into people’s thinking and processes. They should be able to live analytics! Further, there should be a relentless focus on identifying and understanding the interdependencies between risk and value while assessing the evolving role of data analytics as an effective enabler.

Lack of collaboration and right choice of engagement model

Companies continue to struggle with fundamental issues related to analytics, traversing data, methods, organization, and technology. Lack of a developed enterprise-wide strategy and operating model often restricts companies from harnessing the power of analytics. The solution to address this lack lies in smart analytics solutions and services that can democratize data across organizations.

Incorporating the right kind of analytics solutions into an organization’s core process reflects a deep commitment to analytics across the organization.  Also, making analytics work across the business requires collaboration and the right choice of engagement model, which would vary based on the maturity of the organization and its decision-making, not its data needs. The business models could range from products, services, and managed solutions to analytic marketplaces. Unless the right business model is chosen, analytics will remain a discrete project. At Bridgei2i, we encourage companies to make data-driven decisions at every level of businesses by providing them the right engagement model through the gamut of our analytics solutions.

Walking the walk

Although the right collaboration model and analytics solutions can create a stark impact on business processes, analytics leaders also play important roles in cascading the vision of what analytics can do for the business, thus encouraging the entire organization to realize the potential of analytics. The leader’s role is to build alignment and fortify the analytics culture, advancing the analytics capability of the organization and enhancing decision-making. With the rise of embellished designations and roles like “Chief Analytics Officer” or “SVP Enterprise Analytics”, organizations can certainly get past the buzzword zone by learning ways to shatter the myths related to analytics and extract and disseminate analytics more broadly and wisely. Click here to know more about C-suite executives’ new tools.

To conclude, apart from right analytics tools that help in building an analytics culture, analytics success depends on how an organization plots analytics into its cornerstone and how analytics is brought to life across the organization’s pillars.

BRIDGEi2i provides Business Analytics Solutions to enterprises globally, enabling them to achieve accelerated business impact harnessing the power of data. With a combination of domain expertise, advanced analytics capabilities, and technology accelerators, To know more, head over to www.bridgei2i.com

Related Posts

Leave a comment