Top Analytics Challenges for CxOs

Dateline: October 17, 2014

Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.

This week’s idea come a recent public Twitter Chat about How Analytics is Transforming the Roles of the C-Suite Execs,  between  Tom Davenport (@Tdav), President’s Distinguished Professor of IT and Management at Babson College, research fellow at the MIT Center for Digital Business, and co-founder of the International Institute for Analytics and John Lucker (@johnlucker), Principal, Deloitte Consulting LLP and Global Advanced Analytics & Modeling Market Leader for Deloitte Analytics.   Here is a short summary of the part of the conversation listing the top challenges for CXOs and analytics:

A lot of senior executives still don’t get how important analytics and big data are for their businesses #cxoanalytics

(1) Lack of vision as to how to exploit #BigData & #Analytics)

(2) Lack of Acumen & Expertise in Fact-based Decisioning;

Chg Mgmt in the org hard to get non-STEM to think more STEM with analytics as key to strategy execution

Unfortunately, CMOs are probably the least STEM-oriented–this has to change!

(3) Lack of Leadership in driving and being Accountable for #BigData & Advanced #analytics

(4) Lack of experience in how analytics can be strategically deployed: it’s an organizational challenge too

Where are your CxOs on the analytics maturity curve?  How can you help them become more comfortable/effective with analytics?

That’s a WRAP!  Have a nice weekend!

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