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Despite the buzz, many companies are not reaping the business benefits of analytics. The reason, says Accenture, is that they lack an effective analytics culture.
Many companies are dissatisfied with the return on their investment in analytics. According to a recent Accenture survey of 600 executives, eight out of 10 companies have not achieved their goals in analytics. And only one of 12 respondents expressed satisfaction with the return on their investments.¹
¹ Dave Rich, Brian McCarthy, and Jeanne Harris, “Getting Serious About Analytics: Better Insights, Better Outcomes.” Accenture, 2010.
Leadership. The single most important step is to promote leaders at every level who have a passion for data analysis. Executives must also honestly assess just how in touch they are with the existing culture before they attempt to transform it.
Breaking down silos. Silos are a quick killer of an analytics culture. To help organizations achieve their business goals, analytics requires cross-functional collaboration.
Developing, motivating and retaining analytics talent. Upskilling the workforce in analytic capabilities is quickly becoming essential just to keep pace with the market. Training workers in IT skills has consumed the organization’s training departments in the past; the next 20 years will be about integrating analytics into everyday work.
Accenture is a leader in analytics, with considerable experience in helping clients integrate analytics into the way they do business in order to achieve high performance.
April 27, 2011
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