Efforts to adopt analytics upset the balance of power in the C-suite, and this shift often had a negative impact on analytics initiatives.
Dateline: October 14, 2016
Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.
According to a study led by EY Principle Chris McShea, only about 1/3 of the companies in his study achieved their goals for their analytics programs in the long run. His article at Harvard Business Review, Reason So Many Analytics Efforts Fall Short, suggested that advanced analytics initiatives challenged the balance of power in the C-suite and disrupted the equilibrium that allowed the executive successfully function.
With the exception of the “winner,” a feeling of vulnerability settled over the other executive team members when the analysis conducted by the analytics group revealed inefficiencies and missed opportunities in their respective functions. For these individuals, the triple whammy of ceding budget to the new initiative, having your turf “scanned” for innovation opportunities, and then being assessed on whether you have the skills to manage in a new data-driven environment was disruptive, to say the least.
He suggests that CEOs must anticipate this impact and proactively work to reduce resistance. The very ability of the corporation’s innovation engine is at stake.
Where is the resistance to your company’s analytics initiatives? How can you proactively work to reduce it?
That’s a WRAP! Have a fun weekend!
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