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May 01, 2017
Transforming analytics into actions
By: Mark Graham Brown

Companies that maximize analytics data lead the market, while their competitors lag behind with antiquated metrics and information. However, not all organizations can effectively apply analytics data to formulate strategies that improve performance.

Some of the most common concerns about analytics are:

  • How analytics can help you manage or make better decisions.

  • How you should interpret analytics reports to improve your departmental performance.

  • Whether there is a better way to sort through the array of data and statistics managers are bombarded with every day.

  • How analytics can help in planning actions and strategies to improve performance.

Being able to design, collect and disseminate analytics information to the appropriate leaders within an organization is critical for planning and decision making. While most organizations collect sophisticated data about market trends, customer behavior, product use and other important strategic areas, internal analytics experts are often not adept in helping managers to interpret and take appropriate action based on this data. Reports are not useful if managers don’t understand the data or don’t recognize how it applies to them or how it can improve their department’s performance. Thus, hiring the best analytics experts and data scientists is not sufficient to glean real business intelligence and improvement performance from this data.

For example, many manufacturers can now collect real-time inventory and supply chain data from many supply chain partners, real-time point-of-sale data from distributors or retailers, and real-time product performance and use data from customers. However, data collection is useless if managers don’t know how to interpret, analyze and use the analytics data to diagnose causes of problems, maximize opportunities, and develop effective action plans and strategies. Today’s leaders are overwhelmed with too much information and too little real intelligence needed to help their functions perform better. This course focuses on how to quickly separate need-to-know from nice-to-know data, how to assess the validity of analytics data, and how to formulate effective strategies and actions to maintain or improve any aspect of performance.

Do you have the right data to evaluate the performance of your company? The Accenture Academy courses Types of Analytics and Their Uses, Validity of Analytics Data, Interpretation of Analytics Data, and Improvement Strategies Using Analytics Data will help you recognize the importance and types of analytics, as well as determine how you can plan effective performance strategies based on this data.

About Accenture Academy

Accenture Academy offers proven, cost-effective learning solutions for a more versatile workforce and a more agile organization. We provide a flexible learning approach that helps your people be more versatile and your entire organization be more agile in the marketplace. Curriculum includes Supply Chain Management, Finance, Procurement, Analytics, Leadership & Management and Specialty Skills.

LEARN MORE ABOUT ACCENTURE ACADEMY 

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