How to Transform into an Insight-Driven Enterprise

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Establish a 'Center of Gravity' for Analytics

Establishing a center of gravity for analytics – often in the form of a Center of Excellence – not only builds talent and capabilities, it also supports consistency and high standards, while allowing functional resources to focus on key business problems and applying insights. Leadership is also a key element as organizations are elevating analytics by creating a chief data and analytics officer (CDAO) role. This role is responsible for both the vision and the implementation of the enterprise analytics activities, which includes developing goals and strategic plans to support the information, reporting the analytical needs of the company, while also acting as an agent to change the analytics culture.

Many companies have had analytics, as a business discipline, on their corporate agendas for a number of years. Today, with the increased growth in data sources and the ubiquitous nature of analytics, a new environment is surfacing where robust analytics capabilities are needed just to keep pace. To obtain the most value from data in this evolving competitive environment, many companies are progressing beyond just using analytics, and are transforming themselves to build an insight-powered enterprise.

To help gain a greater understanding of these transformations, Accenture Analytics studied what the most analytically mature companies are doing to gain tangible value from analytics, and how their practices might be adopted by companies not as far along the maturity curve.

From the research, Accenture Analytics has identified five key characteristics that companies with mature analytics organizations generally share to pursue insight-driven transformation. Accenture has also outlined how companies could more effectively pursue this transformation and move from data to insights to outcomes for a competitive advantage.

 

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