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The five pillars of building a business case for analytics

Posted on: 18 July '13

Even though business analytics is a top priority and will continue to be one (especially as data continues to grow exponentially), many organizations struggle to get started or to make significant progress. There are a number of reasons for this.

Business Analytics

Given these common challenges, there are five things you should consider when building your analytics business case.

Strategic Business Objectives

The five-step process logically organizes the discovery process and helps develop a common language to adopt across the organization. It is no secret that technology, process and business silos exist everywhere. However, they are also being increasingly confronted today.

The very first step of aligning strategic objectives and analytics will address the following needs:

  1. Improve performance of currently active initiatives by building models to review the goals that were set, and constantly innovate along the roadmap in light of current metrics
  2. Improve performance of new initiatives by creating an upfront framework for measurement and continuous improvement
  3. Generate potential for new investment by highlighting white spaces that emerge from the analysis. Such white spaces could be untapped customer segments, channels or operational efficiency areas.

Examining the analytics business case question from a top down perspective allows you to build buy-in. More importantly it surfaces the most important challenges and helps you create a roadmap that transparently and steadily delivers upon the business value promise.

Read our white paper titled “Building an analytics business case” to learn more.

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