Not all companies get their business analytics program right. However, before passing on the final verdict on some companies’ success or failure in this regard, it is essential to look in to some clear signals that portend of trouble ahead. One such is when the executive team does not have a clear vision on how to use this information. Another is when there hasn’t been a feasibility study to assess the impact in the first year itself. The analytics strategy if at all is restricted to just a few use cases. The talent management in the organization is done poorly as individual roles are not clearly set, nor are future requirements. While the technical aspects of analytics do take place well, there isn’t enough done to ensure this data can be used towards solving real business issues. At such places, analytics emerges as a thing in itself, with a divorce from the actual business requirements. The analytics team or platform is then built without any end-result in mind. Even when decisions are taken to reduce the data storage, the clean-up efforts are way too costly and do not justify the effort. There isn’t any proper analysis of what real numbers are being generated by the analytics team. Finally, due to the neglect, there is no one dedicated to look after the ethical, social and legal ramifications of the entire process performed.

Source:https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/ten-red-flags-signaling-your-analytics-program-will-fail?cid=other-soc-twi-mip-mck-oth-1805&kui=RjH_mljJLwlR6X3AUkOPrA

Uploaded Date:30 May 2018