Small analytics teams embedded within a larger organization must be successful to survive, but analytics is a disruptive technology and many organizations fail the first time they attempt a major analytics initiative.
The Analytics Assessment and Roadmap Service provides a capabilities assessment to identify the current analytic maturity within an organization. The assessment benchmarks current analytic activities and processes relative to industry best practices, identifies opportunities to better leverage analytics, and helps prioritize data-centric business goals to minimize cost and maximize return on investment from analytics.
The assessment methodology covers five dimensions detailed below that are necessary to achieve analytics excellence. Sub-areas within each category focus on key components or questions that define specific analytics capabilities.
The assessment of analytics examines the sophistication and rigor of the analytics approaches used by an organization. Nearly every organization is already doing analytics in some form; however, each varies significantly in their level of sophistication and the types of tools used.
Analytic knowledge and skill turn the available business data into information that can be used to take action. Data science activities require curious, analytically-minded people. These people must be technical enough to deal with the various IT aspects of data science, familiar with the complex mathematics of statistics, and creative problem solvers. It is rare that any one individual possesses all these skills, so it is important to build an analytic team that covers the full breadth of data science activities.
Building successful analytics processes is important for developing an analytics culture and allowing technical successes to be leveraged and repeated over time. Analytics cannot succeed without collaboration between different stakeholders across the organization.
As shown in the figure, the value chain for analytics starts with a robust IT infrastructure and data storage platform capable of supporting the desired analytics and delivery processes.
Having an analytics-ready culture is the single best indicator of future analytics success. Though analytics is largely a technical discipline, technology alone is not sufficient to manage and adapt to the unexpected discoveries that are a routine part of data science.
Once completed, Elder Research will provide tailored recommendations for increasing the analytic capabilities of the organization based on the results of the assessment. These recommendations will provide guidance on processes, tools, and technologies suitable for using analytics to make data-driven decisions. Elder Research will also use this information to propose a roadmap to develop a predictive analytics culture focused on achieving the specific data management goals of the organization.
View a sample Analytics Assessment report provided to the Equal Opportunity Employment Commission Office of Inspector General (EEOC OIG).