Our Insights in Analytics
Data volumes are exploding due to new technologies such as social media and e-commerce, and now there are huge business opportunities to tap into both the new and old data sources. Big data is fueling a new age, where companies need to compete with analytics in order to reach their full business potential and create value added.
While your company may be taking on the task of implementing business analytics, you may still need guidance through the process of implementation, as well as an assessment of how effective your company’s new analytics platform really is. This is why we have created AnalyticsIQ. AnalyticsIQ is a framework for assessing company’s maturity level in exploiting analytics, as well as the areas of the company that provide the most opportunity for improvement and ROI.
So what does “analytics maturity” mean for your company?
According MIT Sloan, a company’s level of maturity can range from:
Aspirational– These organization are far from reaching their analytics goals and currently have very few of the building blocks (human capital, tools, processes), to “collect, understand, incorporate or act on analytic insights”
Experienced– These organizations have had some analytics experience and are looking to go beyond cost management and develop “better ways to collect, incorporate and act on analytics effectively so they can begin to optimize their organizations.”
Transformed– These organizations have a great amount of analytics experience across a wide range of functions. Their analytics process has become a competitive differentiator and “are most focused on driving customer profitability and making targeted investments in niche analytics as they keep pushing the organizational envelope.”
AnalyticsIQ is composed of intensive mid-level and senior employee surveys, resulting in a company IQ score from 1 to 5 based on a company’s strengths and weaknesses in certain areas.
We assess the company on over 70 dimensions and then identify the top two areas of improvement for the company. We then dive deeply into the two areas of improvement to isolate root causes and assist in formulating an improvement strategy that includes terms goals, resources needs and an execution plan.