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How to ensure the ROI of your analytics implementation

Sajid Usman, global managing director for technology, Accenture Analytics | Oct. 16, 2013
Although companies are increasingly investing in analytic capabilities, many fail to see a positive impact on the bottom-line. The good news is proven tactics exist to help businesses get it right. Here's how to overcome the five main challenges to achieving ROI from an analytics implementation.

Challenge #5: Lack of analytics talentSolution: Acquiring the right analytics talent
Today, businesses are looking to add analytical talent individuals with the ability to use statistics, quantitative analysis and information modeling techniques that will shape business decisions. The ideal candidate should also should specialize in the company's industry and have the right work ethic that will gel with an existing culture and organization.

Here are different approaches to acquiring new analytics talent:* Build skills internally through internal analytics training.* Seek Data Scientists and more available, lesser skilled candidates.  * Partner with universities to access and attract skills* Explore provider solutions such as Analytics as a Service.To effectively pursue analytics ROI, taking a "design for analytics" approach from the start will reduce the potential for implementation challenges and set businesses up for success. Designing for analytics is a top down change with a revolution from the bottom up. An organization's leadership needs to be onboard with an enterprise-wide approach and guide its mission to breakdown the silos to realize the true potential of Big Data and achieve ROI.


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