Phy-gital Roundtable: Breakfast Roundup from Germany and Netherlands

02 May '15 | Debjyoti Paul

German Shoppers: Meet Them in the Fast Lane to Phy-gital

15 January '15 | Ralf Reich

Shoppers Will Share Personal Information (But They Don’t Want to be “Friends”)

15 January '15 | Anil Venkat

Modernize or Perish: Property and Casualty Insurers and IT Solutions

14 January '15 | Manesh Rajendran

Benelux Reaches the Phy-gital Tipping Point: Omnichannel Readiness is Crucial

13 January '15 | Anil Gandharve

The New Omnichannel Dynamic: Finding Core Principles Across Industries

13 January '15 | Debjyoti Paul

Technology does not disrupt business – CIO day 2014 Roundup

02 December '14 | Anshuman Singh

Apple Pay – The Best Is Yet To Come

02 December '14 | Indy Sawhney

Digital transformation is a business transformation enabled by technology

01 December '14 | Amit Varma

3 Stages of FATCA Testing and Quality Assurance

06 October '14 | Raman Suprajarama

3 Reasons why Apple Pay could dominate the payments space

18 September '14 | Gaurav Johri

Beacon of Hope: Serving Growth and Customer Satisfaction

05 August '14 | Debjyoti Paul

The Dos and Don’ts of Emerging Technologies Like iBeacon

30 July '14 | Debjyoti Paul

What You Sold Us On – eCommerce Award Finalist Selections

17 July '14 | Anshuman Singh

3 Steps to Getting Started with Microsoft Azure Cloud Services

04 June '14 | Koushik Ramani

8 Steps to Building a Successful Self Service Portal

03 June '14 | Giridhar LV

Innovation outsourced – a myth or a mirage or a truth staring at us?

13 January '14 | Ramesh Hosahalli

What does a mobile user want?

03 January '14 | Gopikrishna Aravindan

Driving the ecosystem for business analytics initiatives

Posted on: 29 July '13

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.

Strategic Business Objectives

 

 

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:

  • Risk management practices already matured in financial services that online retailers can adopt as they make foray into payments and similar customer engagement areas
  • Churn and retention analysis prevalent in telecom which can be leveraged by financial services and retail as they strive to create multi-channel customer experiences.

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.