It’s early February. Punxsutawney Phil predicted an early spring this year, and there is hope (and warmth) in the air.[i] But it’s not always rosy for you as a data, analytics, and insights leader. You tirelessly toil to get value from your enterprise data and try to apply those insights at scale to impact business outcomes. You may often find yourself in a circular pursuit of better data, better analytics, and better ROI from your insights efforts — hoping to leapfrog competitors. Fear not. Our team of analysts and researchers help data, analytics, and insights leaders drive business outcomes with the use of better data, analytics, and insights in customer-facing and operational decisions. We’re excited to share a new monthly blog series, “The Insights Beat,” which will showcase and curate our thought leadership to help you with strategies and tactics that overcome the Groundhog Day effect in your insights-driven business transformation.
This month’s theme: Build the foundation for an insights-driven business. Start by gauging where you are in your insights journey. Our latest benchmark research on the state of insights-driven business maturity shows that fewer than one in 10 firms are advanced in their insights practices. Businesses that consistently compete using insights have a mandate for a top-down investment in — and alignment of — people, technology, process, and data to service the entire enterprise with systems of insight. How do you build this foundation?
- Demonstrate data dominance. Your insights can only be as good as the data that fuels it. Take control of your data by first identifying where your firm is on the path toward a mature data management practice, then select the right solution that will help you advance your journey.
- Master silo busting. Teamwork makes the dream work. Ensure that the teams across your organization are collaborating effectively in order to drive maximum value. Develop a plan to align your resources with your business strategy, then execute through the implementation of an insights center of excellence.
- Orchestrate emerging and established insights technologies. More likely than not, the tools you’ll need to achieve your goals are already at your fingertips. Check out our latest research on the digital intelligence, location intelligence, and enterprise business insights and analytics technology landscapes.
Follow this monthly blog series to keep up with our business insights, data strategy, and analytics research and thought leadership. It’s time to quash the Groundhog Day effect in your insights journey.
Note: You will need a Forrester subscription to access research featured and linked in this post.
(Aldila Yunus contributed to this blog post.)