Becoming an Insight Driven Organization
A new approach to data analytics
Realize rapid return on your analytics investment by building an Insight Driven Organization (IDO), one step at a time.
The true strength of analytics lies in its ability to help leaders make more informed, more effective and more intelligent business decisions. This is the value of becoming an IDO. By entrenching data, analysis and reasoning into the organization’s decision-making processes, IDOs turn analytics into a core capability while promoting a culture of data-driven decision-making. As a result, organizations embed analytics across the entire organization and gain access to the analytical insights they need to tackle complex business problems.
Too often, organizations struggle to realize tangible benefits from their analytics investments. That’s because it’s no longer enough to turn data into insight, you need the ability to turn insight into action.
This is the promise delivered by becoming an IDO—an organization that injects analytic insight into every decision it makes. By using data, statistical and quantitative analysis, and visualization tools and techniques, IDOs empower their people to use insights to change the way they do business.
To become an IDO, you need to address five essential building blocks
This involves identifying a sponsor and setting up a governing body to align analytics activities across business units. It means extending your focus beyond technology and data to encompass strategy, people and process. And it hinges on engaging in short, sharp, agile pieces of work that create value quickly, without requiring big up-front investments.
The result? Beyond creating one source of the truth, you gain the ability to grow revenues, reduce costs, mitigate risk and compete more effectively.
Five building blocks to becoming an IDO
Setting strategy requires executive sponsors and champions to carefully define their analytics objectives, identify desired outputs and align the analytics journey with the organization’s broader goals, business plans and win strategy. Components include describing your vision, building a business case, committing to continuous improvement and gaining—and maintaining—key stakeholder support.