Getting the best value from data analytics

What’s the one change that would have the biggest impact on your business? Data analytics

Is your organisation having a good week or month? Can you tell when you need to take action to do something differently? If you’ve answered no to either (or both!) of these questions you need (better) data analytics to help drive your business.

 

If you’ve already noticed the need, and are planning to invest in, or have previously invested in, data analytics how do you make sure you’re getting best value from it?

It’s not just about having the data analytics, it’s about being able to use that information to drive action that makes a positive change for your business. To do this, you need to:

  • Know what your objective is
  • Know what factors influence that objective
  • Record accurate data that can show you the performance of each of these elements
  • Display the data in a useable way for teams
  • Make sure reviewing and acting on the data becomes a part of everyday life in your organisation.

Because these factors are vital in getting the full value you need to make sure all relevant teams are involved in the design, build and testing. Too often we see technical teams given the job of creating dashboards and other forms of analytics without getting appropriate support and direction from the rest of the business. All of the elements above require input from several stakeholder groups, from senior management, through to operation front-line workers, along with the technical teams to ensure that: the result works at every level, everyone believes the data they’re being shown, and understands how they should be suing it in their working lives.

Failing to allocate enough time across the business when developing data analytics means you run the risk of producing something that isn’t used, useful or has data inaccuracies that the technical team are not aware of, because they’re not inputting or manipulating the data on a day-to-day basis.

Over the next few weeks we’ll be discussing the key points required to make full use of your data analytics, or what you need to bare in mind when setting them up. We’ll have articles, case studies and the opportunity for you to ask questions about your specific circumstances on the following topics:

If you’ve got a specific question or issue with your data analytics you’d like us to answer fill in the form here. If you choose to leave your question anonymously we’ll answer your question in the final article of the series, or if you leave your email we’ll respond directly.