In Analytics

“Ultimately, the analytically driven enterprise is one where analytics is seamlessly woven into the fabric of the entire business.”

This statement introduces the 2016 Dun & Bradstreet Enterprise Analytics Study. In the study, nearly three-quarters of respondents considered their organizations as “analytically driven.” Yet a majority of respondents:

  • Did not possess a corporate strategy for how analytics are used across the organization
  • Did not share analytics models and results outside of their departments
  • Did not consider their company skilled in visualization tools for analytics
  • Did not have the analytics resources in-house to identify new product or market opportunities

Clearly there’s a gap between how broadly people perceive analytics influencing their job and how sophisticated the role analytics actually plays in their job.

The majority of respondents in this study work in the manufacturing, financial services, and high tech industries. These industries are not unique in their slow adoption of analytics. Many industries are just starting on the analytics learning and maturity curves.

So, is your organization analytically driven? How would you answer these questions from the survey?

  • Does your organization have a strategy for using analytics across the enterprise, and not just within departments?
  • If your department generates and applies analytics models and results, are you sharing those with other departments?
  • What data visualization tools and skills do you use on a regular basis to communicate across your organization?
  • Can you point to new products or new markets that you identified and exploited using analytics?
  • What percentage of your organization’s analysis is performed by external researchers and consultants?

If you struggled to give specific, positive answers to these questions, know that you’re not alone. And, as they say, the first step is admitting you have a problem. With the amount of data and devices pouring into the world in 2016, you’ll quickly encounter problems if you don’t have an organizational analytics approach–especially if your competitors do.

This white paper contains an easy approach to evaluating your organization’s analytics maturity and models to consider for your organizational analytics strategy [registration required]. It’s a good first step toward becoming truly analytics driven.

(Image: everythingpossible / 123RF Stock Photo )

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