Something to Consider July 2018 – Making Data Analytics Work For You Instead of the Other Way Round
We know that Data Analytics has great potential to transform our businesses. Companies that have put theory into practice are reaping the rewards, but its not yet the norm. Leaving business analytics to technology experts is not a recipe for success, as Data Analytics is fundamentally a business related matter. Data Analytics is a means to an end, a tool to help you drive business value, but it needs clear focus.
This week’s piece is a great guide by McKinsey on how to ensure Data Analytics is working for you not against you, and to make sure you are doing it for the right reasons and getting the desired outcomes. It includes topics such as how to ask the right questions, making outputs usable, ensuring your team is up to scratch and not taking for granted the small insights you get from analytics. The 8 points discussed are consistent with our own experiences and will help you on the path to reaching full potential from data analytics. Read the full piece here
Our ‘Something To Consider’ snippets are framed as small, digestible, ‘dashes of insight’ around the pillars of what we define as “World Class Finance” – Process Optimization, Financial Control and Compliance, and Risk Assurance, all underpinned by technology enablement and integration.