Dateline: May 10, 2013
Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.
High on the list of important technologies for most organizations today is analytics and business intelligence. Recently Editors from MIT’s Sloan Management Review and SAS’s Chief Research Officer held a webinar to share results of their research study on the use of analytics. They found three distinct levels of analytical maturity — Analytically Challenged, Analytical Practitioners and Analytical Innovators — and discussed how organization move from one level to the next.
When asked about what holds companies back from achieving value from their investment in data and analytics, they replied,
There seem to be two main bottlenecks that companies face in their use of analytics: technological and cultural. On the technology side, issues can range from the need to ramp up infrastructure to meet “big data” demands, with hard choices often having to be made between making data available (including even the allocation of processing power to facilitate analytics computation) versus managing data storage costs. There are also data governance and data readiness issues to deal with.
On the cultural front, there can be a number of bottlenecks to contend with, from data that is trapped in departmental silos, to an executive team that does not see the value in data.
How valuable is your company’s analytics program? What are the bottlenecks in your organization? How do you manage them?
That’s a WRAP. Have a nice weekend.
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