4 best practices to avoid a BI faux pas

|September 16, 2015 0
Image courtesy of Stuart Miles at FreeDigitalPhotos.net

MUMBAI, INDIA: Getting started with advanced analytics is as much about changing mind-sets and culture as it is about acquiring tools and skills, according to Gartner.

Failure to make these changes can be fatal to success. Gartner predicts that through 2017, 60 percent of big data projects will fail to go beyond piloting and experimentation, and will be abandoned.

Gartner has identified four best practices that BI and analytics CIOs can use to avoid a BI faux pas:

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Choose a business problem that offers an initial win:
BI and analytics leaders need to work with business leaders to identify problems to tackle.

Review with them the outcomes that drive the business and identify the decisions that could provide the biggest impact or, in many cases, the quickest payback. These may include day-to-day operational decisions, tactical decisions such as planning, or infrequent strategic decisions such as whether and when to enter new geographies. Wherever there is a lot of data, uncertainty and complexity, there is an opportunity.

Use outsourcing and buy packaged apps when you lack advanced analytics expertise:
Many organizations assume they must continue on their current path with a centralized BI team and tools, and therefore build advanced analytics capabilities themselves.

In such cases, organizations that don’t themselves have the skills to build advanced analytics can use external service providers who do, or buy advanced analytics applications to show the value of advanced analytics expertise for a particular problem.

Identify and convince the stakeholders about the value of advanced analytics:
It’s essential to identify the internal stakeholders who need to be convinced.

These are the naysayers, the sceptics, and perhaps the decision makers or those who carry out the actions. Not having them on board can derail any project. Having a business case that demonstrates the value is necessary, but it may not be enough on its own. The hardest task is to change people’s beliefs and how they see the world — to get them to understand why they need to think or act differently.

Decide if you want to build the skills and tools internally:
Businesses that achieve best-in-class advanced analytics solutions typically do so through a build strategy.

However, building the skills and tools internally isn’t for everyone, and it’s often not the best way to start.

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