Top things to consider when implementing Advanced Analytics at your organization

If you’ve worked at an organization for any length of time, or read any of our posts, or listened to any of our AI Today podcasts,  you know that data is the key to making informed decisions and growing your business. But, where do you even start when it comes to implementing advanced analytics in your organization? Implementing advanced analytics in your organization requires careful planning and execution. You want to make sure you are setting your organization up for success and use advanced analytics to drive better decisions, improve operations and better serve customers. We’ve put together a list of the top things to consider when implementing Advanced Analytics at your organization

Start with your goals. This might seem obvious but far too often people start with the solution and work their way backwards to have the tool fit their problem. Before you start implementing advanced analytics in your organization, it’s important to define your objectives and set your goals. What are you trying to achieve with advanced analytics? Are you trying to improve customer experience? Are you trying to improve employee experience? Increase efficiency Reduce costs? Maybe a combination of a few of these things. Having a clear understanding of your objectives will help you determine which analytics tool is best suited to your needs.

Define your objectives: Before you start implementing advanced analytics in your organization, it’s important to define your objectives. You need to ask: What are you trying to achieve with advanced analytics? Are you trying to improve customer experience? Increase efficiency? Reduce costs? Something else? Having a clear understanding of your objectives will help you determine which analytics tools and techniques are best suited to your needs.

Pick the right solution for your problem. With so many analytics tools out there, it can be overwhelming to choose the right one for your organization. Honestly it can be overwhelming even knowing where to start. Go back to the goals and objectives that you just laid out. Think about the specific problems you’re trying to solve and the data you have available. Then choose tools that are designed to address those issues and that will ultimately help you achieve your goals. There are many great tools out there that just aren’t a fit for your problem. Don’t get sucked into the vendor hype…do your research and make sure you pick a solution that’s right for you.

Choose the right analytics tools: With so many analytics tools available, it can be difficult to determine which ones are best suited to your needs. Consider the specific problems you’re trying to solve (revisit the objectives that you defined) and the data you have available, and choose tools that are designed to address those issues.

Get your data infrastructure in order. Advanced analytics relies heavily on data, so it’s important to have a solid data infrastructure in place. This includes things like data storage, data management, and data governance. Without a strong data infrastructure, your analytics efforts will be hindered.

Establish clear data governance policies. As you begin using advanced analytics in your organization, it’s important to establish clear data governance policies to ensure that your data is accurate, reliable, and secure. These policies should include guidelines for data collection, storage, management, and use. If you don’t have these policies in place yet seriously consider setting this up before getting too deep into purchasing advanced analytics tools. These policies should include guidelines for data collection, storage, management, and use.

Take advantage of automation. Automating certain tasks can help you save time, increase efficiency, and improve accuracy. For example, you can use automation to gather data from multiple sources, automatically prep the data, and then feed it into your analytics tools.

Build a data-savvy team. Advanced analytics requires a team of individuals who are experienced in working with data and are skilled in using analytics tools. Invest in building a team of data-savvy individuals who can help you extract insights from your data and drive decisions based on those insights. Look internally to see what roles and people you have first and then hire externally as needed. The correct team can go a long way for project success.

Embrace experimentation. Advanced analytics is all about experimentation and testing. Be open to trying new things. Be open to experimenting with different techniques to see what works best for your organization. Be open to failing.

Leverage automation: In our Getting started on the automation to intelligence journey podcast, we talk about how automating certain tasks can help you save time and increase efficiency. For example, you can use automation to gather data from various sources, clean and preprocess the data, and then feed it into your analytics tools. This not only saves time but reduces errors and frees up humans to work on other higher value tasks.

Communicate your findings. Once you’ve extracted insights from your data,you need to share those insights with others. Being able to effectively and clearly communicate those findings to the rest of your organization is important. This helps ensure that everyone is on the same page and that the insights are being used to drive decisions. Make sure you pick a solution that allows you to share your findings easily.

Continuously monitor and improve: Advanced analytics is not a one-time thing but rather an ongoing process. Continuously monitor the results of your analytics efforts and make improvements and adjustments as needed.

Partner with the right vendors: Finally, if you’re working with vendors to implement advanced analytics in your organization, it’s important to choose vendors that are experienced and have a good track record of delivering results. Look for vendors that understand your problems, listen to your needs, and act like a true partner.

 If you’re working with vendors to implement advanced analytics in your organization, it’s important to choose vendors that are a good fit for your needs. Make sure to do your research here, and really ask the tough questions. And, make sure  that they are experienced and have a good track record of delivering results.

By following these above bullets when implementing advanced analytics at your organization, you are setting your organization up for success. You will be able to use advanced analytics to drive better decisions, improve operations and better serve customers. Remember, advanced analytics is not a one-time thing but an ongoing process, so be prepared to continuously monitor and improve as needed. It’s more about the journey than the final destination. 

So, there you have it : the top things to consider when implementing Advanced Analytics. Advanced analytics is not a one-time thing but an ongoing process, so be prepared to continuously monitor and improve. And, as always, keep in mind that your goals and objectives should drive every decision you make in this process. Happy analyzing!

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