Business analytics is serving a company best, when it is used to shape and support every facet of the company’s strategy, and support all resources and activities tied to that strategy.
Business analytics has not only gained traction as a function within business in recent years, it has also become a beacon in the current literature for those hungry for more rigor around identifying how to win. Many executives now place analytics among their top strategic priorities. So why, then, do I still encounter organizations who relegate their analytics teams to focus solely on operations or sales support? More importantly, why is this still the norm and not the exception?
Experience has told me this has everything to do with the fact that organizations see analytics as crucial, yet they lack a shared awareness of how analytics can be leveraged within the business. Not unlike six sigma advocates who use the process solely for manufacturing. Nor unlike balanced scorecard proponents who use the process to simply assess, rather than coordinate and integrate key activities. You as an analytics leader are the individual best positioned to help the business understand the totality of what value analytics can deliver. Yet in order to do this, you will have to act like an analyst, and think like a strategist…
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