Getting started with advanced analytics is as much about changing mindsets and culture as it is about acquiring tools and skills.
According to Gartner, failure to make these changes can be fatal to success.
Gartner predicts that, through 2017, 60 percent of big data projects will fail to go beyond piloting and experimentation, and will be abandoned.
“Many business intelligence (BI) and analytics leaders are unsure how to get started with advanced analytics, and many organisations feel they must make a significant investment in new tools and skills,” says Lisa Kart, research director, Gartner.
“But a successful advanced analytics strategy is about more than simply acquiring the right tools. It's also important to change mindsets and culture, and to be creative in search of success.”
Gartner has identified four best practices that BI and analytics leaders can use to get advanced analytics initiatives off the ground.
Choose a business problem that offers an initial win
BI and analytics leaders need to work with business leaders to identify problems to tackle.
Review with them the outcomes that drive the business and identify the decisions that could provide the biggest impact or, in many cases, the quickest payback.
These may include day-to-day operational decisions, tactical decisions (such as planning), or infrequent strategic decisions (such as whether and when to enter new geographies). Wherever there is a lot of data, uncertainty and complexity, there is opportunity.
Use outsourcing and buy packaged apps when you lack advanced analytics expertise
Many organisations assume they must continue on their current path with a centralised BI team and tools, and therefore build advanced analytics capabilities themselves.
However, there are other options that are better suited to quick wins. Organisations that don't themselves have the skills to build advanced analytics can use external service providers who do, or buy advanced analytics applications to show the value of advanced analytics expertise for a particular problem.