Organization Analytics: Improve the capability for data analytics throughout your organization
Most organizations use data to steer operations, reduce risks and plan strategies. The increasing digital tracking of activities, combined with data analytics, provides an opportunity to exploit more and new information, including unstructured text, Internet-of-Things data, clickstreams, audio, video and social media. More and more organizations realize that they can benefit from data-driven decisions or even spot new business opportunities, and that the ability to apply data analytics is increasingly important for competing successfully.
The challenge with conventional trainings
A recurring situation in companies sees employees attend a training in a new discipline. Three months later, those employees find themselves somewhat frustrated with how little opportunity there is for them to apply their new skills. No time, no real demand, no support from management — and worse: no perceived value for the organization.
Isolated trainings and new IT tools are not sufficient to develop and consolidate an organization’s capacity for analytics. Frequently the new know-how is not used regularly or integrated in processes, and therefore has no lasting impact on the business.
The impact on an organisation
When organizations do not really develop their capability for data analytics, before long they will struggle to compete and will be unable to attract and retain employees who want to acquire — and apply — cutting-edge skills.
How to solve this situation
Management, teams, and individuals at all levels of the organization need a clear path for developing the skills and the environment to apply data analytics in a profitable way. In short, they need a development plan.
As in sport, the chances of success are significantly higher when there is a strategy, along with regular support and coaching through the ups and downs that inevitably occur.
To develop your company’s analytics capability strategically and systematically you should consider these four critical areas:
1. Skills — What skills are missing, where, and how to fill the gap? Improving skills brings competence in data analysis, data visualization, machine learning, validating information, communicating results and insights.
2. Infrastructure — What systems, tools and data need to be added or developed? Assess the availability of useful data, useable IT architectures, and information networks.
3. Processes — Do business processes make use of the available skills and infrastructure? Integrate data-driven methods, useful new skills, and ROI criteria.
4. Leadership — Involve leadership and get buy-in and concrete support. For new skills to take root and grow, consistent support from management is key, as well as the right infrastructure and processes.
We have a lot more to tell you about this from our decades-long experience in helping companies to be data-driven. Interested? Just drop us a line at firstname.lastname@example.org or call +41 44 500 21 28.