Advanced Analytics Enablement
Systematically put analytics in the hands of your people.
Advanced analytics platforms have evolved from supporting IT and finance functions to enabling business users across the enterprise. Several things make this possible. First is the availability of cheap, powerful computer processing. There’s also more data, thanks to the digitization of business interactions and reduced cost of record storage. Finally, a new generation of software tools allows people to tap into data in ways that were unthinkable just a few short years ago.
But to get advanced analytics capabilities in the hands of business users, organizations must overcome a handful of challenges. One is simply knowing where to start: Companies often have massive amounts of data plus any number of ways they might want to use it. Another issue is helping affected employees adjust to new systems and tools. Another is inflexible business intelligence that generates reports that are rarely read. Skills gaps are also likely to appear, prompting decisions about training and hiring.
How we help
We help you build out an advanced analytics capability of your own via the following steps:
Define goals, assets and constraints
- Identify the principal commercial issues for your business plus the hoped-for business results
- For each issue, identify questions that need answering as they relate to business performance (i.e., revenue, cost, profit margin or operational capability)
- Evaluate the quality and availability of internal and external data
- Reveal barriers to setting up advanced analytics (i.e., data, resources, skills or culture)
- Determine ways to apply advanced analytics so that they address key commercial issues and questions
- Gauge the benefits of addressing each commercial issue
- Size up the potential of emerging technologies such as robotic process automation and machine learning
- Identify and prioritize quick-win initiatives
- Identify other, more major high-value initiatives and develop plans to implement
Develop and deploy initiatives
- Address capability barriers to success
- Develop detailed plans for training, external resourcing, tools and methodologies
- Address organizational barriers and ways to secure buy-in from major business divisions
- Create benefits-oriented key performance indicators to enable measurement and celebration of success
- Prepare the data and relevant models, then test and calibrate them to create the first iteration
Engage, excite and expand
- Target quick wins to show the potential of advanced analytics
- Document lessons for future initiatives
- Build on the momentum from quick wins to pursue higher-value projects
- Analytical models, toolkits and data sets that are tested and proven to work in your specific commercial setting
- The ability to harness data and manage its growth so people can remain productive
- Bigger payback from existing data and advanced analytics investments
- Higher adoption of advanced analytics systems and tools
- Less disruption from emerging cognitive technologies
Examples of our work
To learn more about how we help our clients, please refer to these case examples:
- L.E.K. analyzed millions of data points in this construction company’s database to identify the most profitable projects along with gaps in business unit capability.
- A large industrial contractor had skills that were scarce and subject to cyclical demand. Our analysis of internal HR data produced more efficient ways to manage its labor supply.