Analytics enable the extraction of high-quality, timely and actionable insights to help leaders make better-informed decisions. Sounds simple right − but how do you know you if you are tracking the right data, or asking the right questions from it? Without a clear strategy, the rapid changes in the analytics world can lead your organization in the wrong direction, with expensive software integrations and training that can cost your team valuable time and money. Below are 4 pillars of a successful analytics strategy.
Here are four key points to help develop a solid analytics strategy for any industry that can be adapted across cultures and organization sizes.
1. Create a data-driven culture
- Engage with internal clients to improve delivery of analytic projects needs
- Audit the analytics tools and report catalog, clean duplication, and overload
- Monitor Organization vital signs creating Dashboards for a culture of transparency
- Enable storytelling visual systems that infuse analytics across the organization
- Develop insightful, consultative research led by strong methodology
2. Support organizational transformation
- Provide thought leadership in analytic techniques and new solutions
- Develop trust relationships with business leaders and understand their needs
- Align with local KPIs to develop deep analysis and custom solutions
- Develop skills and align old capabilities to new organization needs
- Enable quality control systems and audit and compliance tools and training
3. Develop talent
- Recruit, develop, and retain a diverse world class team
- Encourage a culture of trust that rewards the right behaviors
- Develop continuous learning tools that support internal and external clients
- Identify data points opportunities across the digital and physical customer journey
4. Drive Innovation
- Educate in the creative use of data and analytics to solve business problems
- Identifying external trends to inform strategic decisions
- Encourage a culture of data-driven innovation by bringing in external speakers
- Create and test new ways to transform current practices
Dashboards are on everybody's mind - for good reason. Who doesn't want a quick and easy snapshot of organizational data that updates seamlessly? Join us for a webinar on Wed, Sep 27, 2017 2:00 PM.
We will spend this hour looking at a range of different dashboarding options. We'll start with a sophisticated Power BI dashboard that Tech Impact just released in place of a standard Annual Report and end with some ideas for folks who might need to manually import data into a dashboard on a monthly or quarterly basis.