In our introductory blog on this topic, we discussed the key challenges why analytics is not being leveraged to its full potential today. In our whitepaper titled “Building an analytics business case” we presented the following five step process to build a robust business case for analytics.
An important constituent of the methodology is leveraging of cross-industry practices. In a world where industry silos are disappearing, cross industry practices will provide the right impetus to innovation. This includes analytics practices that other industries may already have matured, as well as emerging practices that another industry is adopting. Key examples include:
This approach also actively enables the proverbial CIO-CEO business partnership. It is important to consider business divisions, product areas as well as operational processes as inputs. Not only does this approach bring stakeholders together under a common umbrella, it also helps them understand the vital inter-linkages between seemingly different functional and industry areas. Read our whitepaper “Building an analytics business case” to learn more.