Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of its free resource onthe five steps to build an analytics driven organization. Businesses across industries are increasingly adopting big data and advanced analytics to improve business outcomes. However, many organization still seem to think of analytics as a quick fix for their business needs. This assumption is far from the truth, investing in analytics is, in fact, only the beginning of an organization's analytics journey. However, to achieve their business goals with the aid of analytics, businesses should employ an effective analytics deployment strategy.
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Steps to Build an Analytics Driven Organization (Graphic: Business Wire)
Businesses that have been successful in formulating the right analytics approach have not only realized significant savings from their analytics investments but have also witnessed sustained business growth. Achieving the desired business results has empowered organizations to expand their analytics footprint to facilitate a wide array of business undertakings. As such, they have evolved into organizations that don't just deploy analytics as a strategy but use analytics to drive an organization-wide transformation.
"To adopt a data-centric culture required to effectively find, measure, and create value organizations must be able to share actionable insights with key decision-makers across all business levels," says an advanced analytics expert from Quantzig.
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Steps to Build an Analytics Driven Organization
- Understand your end goals and objectives
The initial phase revolves around understanding your end goals and objectives. By setting clear objectives businesses can identify skill gaps and define what they wish to accomplish by leveraging their analytics capability.
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- Build models that predict and optimize business outcomes
Performance improvements and the competitive advantage obtained using analytic models empower businesses to predict business outcomes. It is also imperative to note that the most effective approach to building a business model usually starts with the identification of business opportunities and not with the analysis of data alone.
- Build the right organizational structure and data governance framework
The key to enhancing the decision-making ability revolves around the adoption of the right strategy and a robust data governance framework. Incorporating a centralized data governance framework helps businesses to gather and analyze data and obtain comprehensive insights that drive all key business decisions.
- To read more, download this free resource
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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