All of us here understand analytics and the importance of data. The world has changed and 30-page business case requirements are hard to sell. If you want to sell your vision, less is more. Turn data into a story and make it real.
Sell the story. By saying we are doing this analysis to generate insight and business value,you sell the story of why the organisation needs to invest in these tools. That will enable you to find the driving sponsor. By doing that, you can sell the vision of what everybody else is doing – getting great insights from analytics.
David Bowie, SAS:
Analytics is having a significant impact on the investor and business landscape. There is a growing recognition that analytics can influence business strategy and have an impact on the share price of listed companies.
In the next few years, I anticipate data analytics will become a ubiquitous boardroom topic in every major organisation and the leaders of these corporations will be asked about the company’s plans for using analytics to drive revenue, improve performance and better serve their customers. Leading organisations must embed the analytics process in the way they do business and apply the insights generated to all critical decisions.
At an investor roundtable held recently, our chief analytics officer was asked by investment bankers how to recognise from the outside that an organisation “gets” analytics and is using their data strategically. The reason is that is where they want to invest their money.
The challenge the industry faces at large is finding the talent and analytical skills needed for data advantage. There is a shortage of data scientists globally and as we know data scientists are the bridge between data analytics and business decision making.
Business, government and academia need to work together to address this problem. Closing the gap won’t be easy but here in New Zealand we are partnering with the likes of Massey University to address the skills gap with our Master of Analytics program. This is critical to ensure organisations have the talent to make data-driven strategic decisions and nurture an insight driven culture.
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