The first question asked when implementing analytics is “what system should I buy?” However, analytics is a matter of culture as well as technology. There are a plethora of studies that conclude data driven decisions from analytics have a 10X return. However, these studies are made from companies that have successfully implemented analytics – and success means they have incorporated analytic decision making into their culture.
Implementing analytics in your culture and obtaining the organizational intelligence to gain performance improvement is achieved through three elements:
- System: using analytical software to provide insight and foresight for data driven decision.
- People: aligning people’s mindset with tactical operations and analytic findings.
- Process: creating written processes for people to use analytics for data driven discussions and decisions.
So, the take-away here is, when looking for analytics software, remember to match it with the people who will be using the software and building the processes for using the results of analytics into decisions.