Achieving ROI on Analytics:
From Insights and Actions to Outcomes
Is Analytics delivering on the Journey to ROI? Even though the business discipline is still developing, what is the verdict? Positive, but cautiously so, suggesting that some enterprises are successfully leveraging the power of analytics within functional areas and across functions, while others are still struggling to see a meaningful Return on Investment (ROI).
More Strivers than Clear Winners
While more than one-third of firms (35 percent) report some degree of satisfaction with analytics, only slightly more than one in five firms (22 percent) state that they are "very" satisfied with the outcomes they have realized as a result of their analytics investment.
Analytics Winners and Strivers
Satisfaction with business outcomes driven by analytics investments
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When analytics does not work as expected for a company, it is helpful to look for the source of the problem in the three most common reasons why:
- Bad Metrics: Companies are working with the wrong data or looking for the wrong results.
- Flawed Actions: Users are not identifying and validating the correct insights and actions suggested by the data.
- Faulty Execution: Companies fail to embed analytics across the enterprise so that analytics capabilities are linked to strategic outcomes.
Real-time ROI Results in Pharmaceuticals
Enterprises in the pharmaceutical sector are realizing measurable ROI by transforming their enterprises into customer-centric businesses, with assistance from Accenture Interactive. Accenture’s Marketing Intelligence Factory, built expressly for pharmaceutical companies, generates a multi-dimensional 360-degree view of the pharma customer that puts insights, data and ROI simulation tools in the hands of field personnel via mobile devices. Live what-if and ROI simulations let sales forces test disruptive scenarios and deal trade-offs in real time, informing and accelerating complex decisions under negotiation pressure prior to completing the transaction.
Prime Time ROI for Broadcast/Cable Operators
Television channels and related communications companies must market multiple programming assets across multiple channels and multiple devices. The television industry is leveraging analytics in combination with smart-tv technologies, advertising research. Accenture Interactive’s TV Viewing Recommendation Engine combines data collection and data transformation to create TV program personalization… individual recommendations on programs and channels based on customer insight. Recommendations first reassure by identifying “best” programs in preferred categories, then suggest new programs the viewer normally would not watch. The results are having a direct impact on television’s ROI: increased viewing levels, reduced churn, and rising customer satisfaction.
The Bottom Line
Accenture Analytics believes it is imperative to infuse insights into operations, embedding analytics into business processes in a robust, industrialized way, generating the right action recommendations, to the right role at the right time. High-performing companies make analysis an integral part of everyday business processes—the methods by which work gets done and value is created. Developing a repeatable decision-making process that leverages data and analytical methods should be a high priority for every organization interested in analytics. Once this virtuous cycle has been industrialized, embedding analytics into the management processes and decision-making, analytics practitioners must have and having the courage to ask, “Did we achieve the ROI we want?” If the answer is no, refocus and try again, learning as you go.
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