Four key challenges for Business Analytics

Author: Ronny Seehuus, co-written with Arild Nebb Ervik.

Regardless of how “big” the data are, success in analytics relies at least as much on organizational alignment and process as on the chosen analytical tool. Through distillation of the talk stream in the market we may identify four key challenges to address.

Key Challenge 1: Strategic Alignment
Most organizations today already have some element of business analytics in place, often in the BI/data warehousing area. Unfortunately analytics are often viewed by top executives as esoteric research at best, and irrelevant fringe experiments at worst. The issue surrounds not a lack of appreciation for the usefulness of information but a lack of alignment, availability, and trust.

Recommendation: review the business goals that

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Business Intelligence (BI) and the move into Africa

There is, however, still immense potential for business growth on the African continent, but companies do not have the same scope for a trial and error approach and have to get it right the first time. This is where business driven market research really comes into its own.

Consumer insights

Traditional market research has a distinct need in the business world as accurate consumer insights and information can be used to inform strategic decisions for growth. However, it appears that business leaders are looking for more than

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5 Steps Towards Implementing a Data-Driven Business Model

Author: Orlando Trott

Digging deep into an organization’s operations will often surface the fact that many executives still make decisions based on gut instincts and narrow observations. On the contrary, data-driven decisions take the guesswork out of business tactics.

It’s imperative that senior executives, middle management and lower middle management utilize data when making high impact decisions. In order to empower data-driven decisions organization wide, it’s important to develop a sense of transparency. By surfacing the current climate of each department within an organization, executives allow senior managers, team leads and employees alike to make highly informed decisions based on the current pulse of the organization. Many organizations are looking to make the switch to a software assisted business … Read More

A Car without a Dashboard, A Business without Data Analytics

A car will undoubtedly start and run, even without a dashboard, as long as the mechanical parts are fine. But, the driver of such a car will find it challenging and impracticable to ascertain speed, battery condition, engine’s temperature, fuel remaining etc. This will, obviously, lead to estimation and guesswork of the car’s performance, a situation manageable (though risky) for short trips but dangerous and ill-advised for long-distance travels.

Same to running a business. Without data, you are driving ‘blind’.

Data Analytics (DA), also known as Data Analysis, involves extracting, editing, summarizing and organizing data in such a manner that it ‘displays’ the business performance. In daily transactions, each business generate substantial amount of data, and the more it … Read More