3 Keys to Data & Analytics Strategy Success

By Ben Atchison, Delivery Lead, Melbourne

Altis has conducted in excess of 50 strategy and roadmap engagements across a wide range of industries and technologies. These 3 factors are important to getting your strategy right:

Find a Trusted Partner

Effective strategies unfold over the course of months and years, so it is important to think long term when identifying the right data and analytics partner to work with. You are the expert in your industry domain while they know data & analytics inside and out, making for a powerful long-term combination.

Cultural fit is of great importance here. Take the time to understand the core values and ways of doing business of your prospective partner. Read that ‘About Us’ section of their website and ask for specific examples of what that looks like in practice.

Right-size and right-experience – in which industries and types of organisations do they do their best work? Do they have the size, depth and experience to deal with your organisation’s challenges? Are they small and local enough to care about doing a quality job for you?

Avoid being overly transactional. Your procurement department plays an important role in understanding the market and ensuring value for money, but ensure an appropriate weighting is applied to the cultural fit, right-sizing and right-experiencing criteria, particularly for this critical strategy phase.

Use a Proven Framework

Your organisation’s history, pain points and opportunities are unique. Your stakeholders are wide and varied, each with their own valid perspectives of what is needed and what is important. Utilising a proven strategy framework to deal with business engagement, the technology perspective and ensuring effective targeting of tangible benefits is key.

A clearly articulated framework will help your stakeholders understand the strategy process which aids with engagement and adoption of recommendations.

A proven framework will have been applied successfully across multiple industry and technology domains – the process is the key here.

Figure: Altis Data & Analytics Strategy Framework

Vendor Independence

Strategic advisory work such as should consist of exactly that – strategic advice.

Your ideal data and analytics partner is well informed of, and connected with, the leading business intelligence, data visualisation, analytics, and data management providers in the market, but does not sell their software or services. This allows independent strategic advice to be given specific to your organisation’s unique needs.

 

For more information on your data & analytics journey, please visit our Advisory page or connect with us here.

 

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