Analytical Insights

Point of View - More than just data science

Despite the current hype around machine learning and artificial intelligence and much to the frustration of many data scientists, in the world of analytics, if you build it, it does not necessarily mean that the business will come.

Charles Darwin wrote Origin of Species in 1859. That is actually not so long ago and debates still rage in portions of mid-America as to whether creationism should be taught in schools. Can we be surprised that data science has been slow on the acceptance uptake in many organizations? Whether you think that the data science manifesto rests in the pioneering publications of Turing and Minsky in the 1950’s and 60’s, or are more resigned to place it with Kahneman exposing cognitive bias as the calling card for more robust analytics, we can agree that data science, at a societal level, is still relatively young.

Much of the world has undergone some sort of statistical trauma and even those who haven’t still are largely susceptible to everyday cognitive bias (again, if you follow Kahneman). In that context, just by setting up a large analytics infrastructure, hiring a crack team of data scientists, and producing tantalizing strategic insights will not guarantee that those insights will drive daily, operational decision-making. In other words, little tangible business value will be generated.

Organizations can learn from other IT projects. When we compare the rollout of analytics initiatives to ERP implementations, ERP implementations were never JUST about a technical implementation. Change management including coaching, sensibilization and trainings have always been core.

ERP implementations were never JUSTabout a technical implementation. Change management including coaching, sensibilization and trainings have always been core.

It makes perfect sense for organizations to seek external help and experience to manage these transitional journeys. Not simply to learn from others’ successes and mistakes, but also for getting an outside perspective on how things are clicking within the organization. Inside teams are (correctly) deep inside the technical considerations of execution. These are tricky innovations and the team needs to keep their collective eyes on the prize. Meanwhile, the management team needs to focus on organizational strategy and operational outcomes while overseeing multiple projects and objectives.

Deloitte helps organizations benefit from data-driven insights at key operational decision points when successfully embedded in key business processes.

Find out more about how Deloitte is enabling the Insights Driven Organization

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