Analytics Trends 2017

Organizations that fail to see an effective return on their analytics investments often struggle to justify the benefits of moving up the analytics maturity curve. That’s why it’s imperative to link analytics investments with measurable outcomes by deliberately designing analytics use cases that demonstrate an impact on defined key performance indicators.

To become an IDO, organizations must be able to unleash the power of their people. This involves picking executive sponsors who are transformation-savvy influencers rather than technologists; designing an operating model that makes the best and highest use of scarce analytics resources; co-creating internally with the business and externally with partners to attract analytics talent; and adopting a culture that is both strategically and tactically bold.

According to a recent Deloitte survey, 90 percent of Canadians would sever their relationship with companies that use data unethically. This makes it critical for organizations to understand what constitutes an unethical use of data, and to build a culture of privacy, security, and ethical data use into the fabric of their organization.

Artificial intelligence and cognitive technologies have the capacity to profoundly alter the ways in which organizations work, deliver projects, and operate. Yet organizations must proceed with care if they hope to realize an appropriate return on these investments.

Behavioural economics has the power to transform the way in which analytic insights are actioned by helping organizations tailor communications to customer mindsets or design offers that “nudge” transactional outcomes. To avoid overstepping their bounds, however, organizations must adopt strong governance practices to guide their approach in this space.