Every day, more enterprises are realizing how important it is to compete on real data analytics. A lot are realizing they have a long way to go. Here’s a quick way to see where your enterprise is on the Data Analytics Maturity Curve. Obviously, the higher your level of adoption, the better.
At this stage, only few identified or designated users have enjoyed some limited success. Typically, they are analysts who want to understand the big picture, and have little contact with the day-to-day operations of the business. They rely mostly on monthly reports; so whatever insights they gain are 30 days in arrears.
At this level, the real benefits of analytics start to emerge. The CXO Levels begin to realize that having certain metrics could help them improve outcomes. The data they work with, however, limits them to mostly lagging indicators, and possibly a few leading indicators. Instead of outdated reports, managers receive actionable insights that help them make more effective tactical and strategic decisions.
When analytics reach this stage in an enterprise, they are no longer a curiosity, a pilot program. They are an integral part of the business process, from the cubicle to the corner office. Each user is presented with fresh insights every day that have been configured to optimize their individual performance. Top management gets a deeper view of important trends. Staff members get intelligent work listing that helps them evolve from knowledge workers to decision workers. At this level, the enterprise is definitely competing on analytics.
Market Leader stage
When an enterprise reaches the stage of maturity, it doesn’t stop there. As ROI compounds, the number of users, use cases, and new apps continues to accelerate. When analytics are based on data that is continually uploaded, transformed, and refined, natural feedback mechanisms lead to solutions that match the goals of the enterprise – and the needs of the users – even more closely.