05 Jul The importance of a data analytics strategy
What is a data analytics strategy?
Want to learn how a data analytics strategy could help your business? At InfoCentric, we’ve been completing strategy and advisory work for over 13 years, and have worked with major banks, retailers, insurers, government and utilities to identify pragmatic data strategies.
We’re exploring the benefits of a data analytics strategy and sharing our tried and tested framework here at InfoCentric.
Data analytics strategies help businesses understand the insights and automation capabilities of their data assets and create a target state environment and a plan to achieve their desired business outcomes. They involve working with key business and technology stakeholders to stay true to business outcomes whilst aligning with the IT strategy.
Why is a data analytics strategy important?
The strategy helps our clients set realistic and goal-oriented when implementing data analytics solutions.
Our approach provides you with a practical target state, including architecture and technology, appropriate operating model and required skills. In addition, we articulate the required phased initiatives to achieve this target.
The InfoCentric data analytics strategy
Our data analytics strategy helps you plan out the steps you need to take to meet your business objectives. It’s been tried and tested on many organisations, and whilst every business will have unique deliverables, our method is the backbone.
Business vision
We discuss your strategic vision and objectives – and you provide important resources to help us understand your situation. Using this context we conduct workshops to define the business use cases and refine these into data analytics capabilities.
Environmental analysis & assessment
We explore different aspects of your organisation by:
- Conducting interviews and workshops with key stakeholders
- Gathering intelligence on your business and technical requirements
- Using our data analytics maturity models, we then compile this information to assess your current environment.
Your ideal future
Combining insights from our environmental analysis and your strategic vision, we design a realistic future state for your organisation – including architecture, operating model and required competencies.
Strategic recommendations
We present a range of strategies to reach your ideal future state. Every strategy we recommend is customised, detailed and practical.
Your roadmap to success
Once you’ve selected a strategy, we create a robust and practical roadmap to help you achieve your ideal future state – and draw value from optimising your data assets.
Estimates of your investment and operating costs
We provide phased cost estimates for implementing and operating your future state data analytics environment.
A compelling benefits case
Through proven and refined methods, we determine the potential value of your data assets to create a compelling investment analysis.
The starting point for unlocking the power of data analytics is articulating the strategy.
Learn More:
Your guide to data modernisation strategy
5 Things That Are Holding You Back From Being A “Data Driven Organisation”
Our Information Management Maturity Assessment: The Basics