The impact of data analytics on workflows can be fundamental in achieving organizational goals. Despite this, its potential is often misunderstood. People tend to focus more on purchasing the latest tools and less on knowing how to first use them – or even figuring out what business goals they’re looking to achieve. Unfortunately, analytics tools are virtually useless when their capabilities aren’t fully understood.
Your time and resources are valuable, and so is your data. That’s why a strategic plan executed by experts is key to getting the most out of your data.
It Starts with a Dedicated Team
Becoming a truly data-driven organization, like most great efforts, means deploying new strategies led by a dedicated team – in this case, one rooted in analytics expertise. The ideal makeup of a strong data analytics ‘power team’ consists of fact finders, change makers and outside-the-box thinkers. They know what types of questions to ask about their data and how to structure data to present answers to those questions.
Like every good scientist, they are flexible to new approaches but also strategically process-driven and prepared to answer all the ‘so what’ questions from less data-savvy stakeholders within the organization.
Develop an Actionable Roadmap
Now that you’ve got your analytics power team, it’s time to create a roadmap that illustrates your business objective, goals and action items required to achieve them. In creating a detailed strategy that answers the questions you have about your data, it’s important to:
- Coordinate timing around goals: monthly, quarterly, annually, etc.
- Identify the right analytics tools to utilize
- Examine target markets
- Develop executive dashboards
- Set a date and maintain focus on the end goal
The best way to drive these efforts is by creating a data warehouse with built-in analytics tools that support meaningful, comprehensive displays of that data. Strategically communicating with the team driving these efforts – as well as reporting progress to other stakeholders – is key to helping your company develop a new mindset around data as a means to answer business questions and accomplish business goals.
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Originally posted September 13, 2018, updated February 14, 2019