
Analytics in a Business Context
Practical guidance on establishing a fact-based culture
By: Frank Vella (Foreword by), Michael O'Neil, The V2V Community
eBook | 27 January 2019
At a Glance
132 Pages
eBook
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Analytics in a Business Context - the first book issued by the Vision to Value (V2V) Professional Best Practice Community - guides readers through the essential steps in establishing a fact-based culture.
The book leads off with an introduction by Information Builders senior executive Frank Vella, and crystallizes insights from more than 30 thought leaders into four chapters - Building the Analytics Business Case, Problem Solving: The Right Data for the Right Question, Monetizing Data and Establishing Analytics Within the Organization - that explore key issues in launching analytics within an organization and expanding the impact of data in corporate decision processes.
The chapter structures reflect the V2V content co-creation process. Each starts with analysis of how and why the topic is important to establishing analytics in a business context, defining the connection between analytics and business benefit. The chapters then explore best practices in the topic area: a variety of expert opinions identify the ways that private and public-sector organizations have successfully navigated key issues and delivered compelling outcomes. Each chapter concludes with advice on the path forward, outlining steps, milestones and metrics that the reader can use to calibrate their own analytics initiatives.
Analytics in a Business Context is an invaluable guide for both analytics practitioners who are seeking practical, real-world advice on how best to connect data with corporate environments, and for executives who understand that evidence-based business culture and practices are the way of the future, and who need a framework for establishing analytics disciplines within their organizations.
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Contents
Dedication
Foreword:
- Moving beyond the analytics crossroads
- The value of being proactive
- We are…where?
- Survival – and success
Developing the Analytics Business Case
- The rationale for investing in development of an analytics business case
- Building the analytics business case: process drivers
- Building the analytics business case: target outcomes
- Building alignment in the analytics business case development process
- Business objectives associated with developing the analytics business case
- Internal: data management
- Internal: outcome focused
- ‘The bridge’: connecting internal and external objectives
- External: outcome focused
- Summary
- Best practices in developing the analytics business case
- Metrics and milestones
Problem Solving: The Right Data for the Right Question
- Identifying the challenge(s)
- Challenge 1: the right question, or the right data?
- Correcting for ‘wrong’ questions
- Aligning questions with evidence limits
- 'The right data’: Quality and completeness
- Two paths to clarity
- Best practice advice
- Final thoughts: applying metrics
Monetizing Data: Identifying and Capturing the ROI on Analytics
- Identifying the sources of data value
- Use of data to inform immediate/direct/tactical actions
- Use of data to improve processes, control costs, and/or drive efficiency and productivity
- Use of data to inform corporate/strategic decisions
- Direct data monetization
- Data monetization best practices
- Data monetization: a process view
- Metrics used to evaluate data monetization
Establishing Analytics Within the Organization
- Factors in establishing demand for analytics within the organization
- Culture
- Process evolution
- Demonstrable success
- Information utility
- Cautions/potential barriers to creating demand for analytics within an organization
- The impetus for establishing analytics: top-down or department-out?
- Top-down
- Department-out
- The best of both worlds?
- Key inputs to the process of establishing analytics within the organization
- Skills and training
- Policies
- Data quality
- Relevance
- Solution licensing
- The evolution of analytics within the organization
- Getting the ball rolling
- Timing
- Integrating analytics within broader corporate policy structures
- The path forward
- Cautions
- Outlook
- Contributing Experts
- Contributors to this document
- Contributors to V2V Meetups
- Lead analyst
- Founding member organizations
- About Information Builders
- About InsightaaS
ISBN: 9780993865282
ISBN-10: 0993865283
Series: From the Vision to Value Best Practice Community
Published: 27th January 2019
Format: ePUB
Language: English
Number of Pages: 132
Audience: Professional and Scholarly
Publisher: InsightaaS.com
























