Data + CDOs  |  Sharmila Mulligan  |  July 11, 2018

7 Habits of Highly Effective Analytics Leaders

Learn how They Are Delivering Differentiating Business Results from Their Data Assets

As digital and data-driven business moves into the mainstream, scaling the value and discipline of data and analytics solutions and programs is becoming key to business success.  Data and analytics leaders must deliver market-differentiating strategies and practices that can scale with business ambitions.

 

-Gartner Research, Data and Analytics Program Primer for 2018

Good data habits, bad data habits, and everything in between govern how much measurable business value organizations realize from their data assets. A bad data habit is amassing a lot of data in your data repositories and applications, and not using it all to continuously discover business insights.  Today, companies with good data habits start with “leaving no data behind.” A good data habit is starting your initiative with a clear business vision and desired business outcome. That, in itself, begins with realizing that all your data contains “business value” if you leverage it correctly and if you continuously put it in the hands of business domain experts.

The demand for results from data analytics solutions is at an all-time high. And it should be. But even even the most experienced CDOs, CIOs, CAOs, and analytics leaders are still operating without a playbook. And having no playbook is perfectly acceptable as long as organizational leaders have a clear business vision and shift their mindset to leveraging all their data to deliver continuous insights to drive business growth.

Effective data and analytics leaders understand the strategy and economics of the business. They know there’s a wealth of information across all their data assets. They look beyond internal proprietary data and are open minded about leveraging external data. They source talent, structure teams, and work directly with the business functions and key business leaders to deliver results. They see data as a company’s richest, growing asset and they want to innovate. And finally, they embark on their data and analytics initiatives in a collaborative partnership with their software and solution providers. The partnership is a journey of using new, innovative solutions to deliver what the business already expects, but moreover showing the business new information and insights that open new business opportunities. Simply put, effective analytics leaders view leveraging all their data as a continuous stream of information that reveals new business opportunities, and they ensure it can be consumed in an intuitive and business-relevant user experience.

The Habits of Highly Effective Analytics Business Leaders centers on seven good habits:  They no Longer Treat Analytics Initiatives as Conventional IT Projects but Rather as Critical Business-led Initiatives

  1. They no Longer Treat Analytics Initiatives as Conventional IT Projects but Rather as Critical Business-led Initiatives
  2. They Challenge Their Teams on How They Use (or Don’t Use) Data for Decisions
  3. They Treat Data and Analytics Modernization as Achieving ‘Continuous Intelligence’ – From All Available Data, Not a ‘Moment-in-Time Metric’
  4. They Put the Immediate Capture of Business Growth at the Center of their Analytics Initiatives and View Technology as a Business Solution – Not an IT Tool
  5. They Play an Instrumental Role in Deploying New Analytics Technology and Ensure the Technology will have Material Business Impact
  6. For Every Data Analysis, They Commission a Business Problem, Assign a Business Leader, and Evaluate New Solutions on “Business Impact”
  7.  They Realize the Richness in their Growing Data Assets and Leverage All Their Data for Continuous Business Outcomes

To begin the journey of developing these habits, start with the habit that is easiest to achieve with your team and business. Talk to other business leaders who are delivering differentiating business results. Test innovate data analytics solutions for time-to-value and then at scale. Treat the journey with solutions and services vendors as a collaborative business partnership.

Learn more by downloading your copy of the 7 Habits of Highly Effective Analytics Business Leaders.

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