“Most organizations lack the required skills, technical capabilities and culture to truly exploit their information for an advantage”
- Sue Trombley, MD of Thought Leadership, Iron Mountain
In the analytics hype cycle, enterprises often treat advanced analytics as just another technology wave and quickly jump into procuring tools and implementing big data infrastructure to power their analytics projects. However, despite making significant investments in data analytics solutions, many enterprises fail to see any tangible impact.
What is the reason?
It’s often forgotten that analytics is not just about data, tools and big infrastructure and neither knowledge nor technology in isolation can provide insights to solve business problems in the analytics world. Rather, analytics is a data-driven problem-solving process, which involves using relevant data and applying right machine learning and statistical techniques to gain insights into a business outcome that helps you to make the right decision.
Simply put, the key to building an analytics-driven organization is to focus on building the analytics ecosystem that cultivates people applying data-driven decision making across the value chain while incorporating the technology and tool effectively.
Analytics Success Demands a Shift in Thinking and Approach
So where do you start?
In our daily conversations with customers, we find that most people think about this in terms of their available data assets:
- What data do I have?
- What can I analyze?
This is the traditional way of looking at data or a “bottom-up” approach taken in a typical data analytics company. But in trying to swift through large volumes of data without first asking the questions, your business goals, and problems that you’re trying to address become secondary.
Analytical thinking requires an alternative approach that starts with the top of the decision pyramid. It starts with the decisions you want to make, followed by the questions that need answers a.k.a insights. Then, you find the type of analysis needed to glean insights and finally, you look at what data is available to solve the business problem or collect the data that can equip you with this knowledge.
Intuceo, a data analytics company is helping enterprise level entities get more out of their data.
Watch the video below to know why we are ranking top among our customers as the best data analytics company.