These days, it seems like everyone is trying to build a more data driven organization. Unfortunately, Gartner research suggests that over 50% of data projects are unsuccessful. What can you do to learn from others, and make sure your efforts push your organization in the right direction?
BIG BANG DOESN’T WORK
Analytics are agile by nature- questions and needs change over time, making an iterative implementation of the analytics program paramount. The user community sees value sooner, and can help inform the future direction and expansion of analytics.
ANALYTICS HAS TO BE CENTERED ON ANSWERING QUESTIONS
This isn’t “The Field of Dreams”; if you build it they won’t come. Your business has to be asking questions, and an analytics program’s goal is to support answering those questions.
BEING DATA DRIVEN IS A CULTURAL PROBLEM, NOT A TECHNOLOGY ONE
People don’t start making better decisions simply because they have better technology. A culture has to be created to use data, and a community developed that is dedicated to the practice of using information to make decisions.
AGILITY IS KEY TO SUCCESS & ADOPTION
“The CFO needs an answer tomorrow”. It’s important to develop a platform that can answer these types of questions, in addition to the more formal, regular reporting needs. Agile information and decision making will drive a successful organization, as well as high use of information technology.
Founded in 2018, Spaulding Ridge is a top management consulting firm, dedicated to client success and helping organizations implement and adopt best-in-cloud technology to solve their most pressing challenges. We provide the office of the CFO financial clarity to Sales and Operational complexity by integrating financial and sales SaaS Platforms.
• Finance gain control ” Increasing financial effectiveness, insight and impact
• Sales increase Productivity ” Hitting quota more quickly, consistently and efficiently
• Operations increase Competitiveness ” Through productivity rates, customer service outcomes, and efficiency