In today’s digital world, there is a wealth of valuable data readily available to companies. There are those mature companies who properly leverage their data and thrive, while other less mature companies fail to realize the opportunity and lose out to their competitors.
Commitment to the following six pillars of digital analytics will poise your organization for success:
Governance: Well-defined and well-communicated roles and responsibilities that hold people accountable across the full-spectrum of activities required to collect, analyze, and measure data and act on business goals.
Objectives: Clearly defined business objectives measured by Key Performance Indicators (KPIs) designed to quantify success or failure of a business.
Scope: Widespread analysis activities executed throughout organizations’ digital ecosystems in an effort to create positive, transformational change.
Team and Expertise: The inclusion of technical implementation resources, experienced analysts and data architects, along with business users who are proficient in data-driven, decision-making methodologies.
Improvement Process Methodology: Formal frameworks such as Agile (Lean) or Six Sigma used across teams and departments to ensure continual improvement throughout the organization.
Tools, Technology and Data Integration: Tools and technology that enable data-driven insights from intelligent reporting, useful visualizations, statistical modeling and predictive analytics.
Is your company using any or all of the above pillars? What are other ways in which your company can effectively leverage its data?
Download this informative white paper“Benchmarking your Organization’s Maturity”to help assess where you stand in your analytics maturity and what your next steps should be, to help you leverage your organization’s data for the smartest possible decision-making.