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Managing or/and Building Enterprise Analytics Organization for the Best Deliverables in Efficiency, Productivity, Revenue and Profitability

There are different ways that smart companies are leveraging analytics to stay ahead of the games in competitive environments whether in sales, business development, product development, process improvement, operational areas that include call centers, health plan operations or even hire the best candidates to achieve the strategic goals among others. 

Revenue-driven and growth-oriented companies that want to stay ahead of the competitive games in their industries and beyond know the importance of having the right information at their disposal at the right time so that they can make critical key decisions that can impact the direction of their respective businesses.

 

More pronounced recently is the trend which shows increasing numbers of critical and smart decision-makers who are focusing more and more on how best to combine innovative data management solutions, analytics capabilities best practices, advances in modeling, applied optimization programing, business simulation, optional scenario generators, testing plus planning and business intelligence reporting processes.  The trend clearly indicates that smart businesses are recognizing that their abilities to compete effectively, efficiently and profitably depend on their intelligent use of data, analytics, modeling, business intelligence, prescriptive analytics, predictive analytics, statistical learning algorithms and machine learning algorithms.

To Have Analytics Unit for the Entire Enterprise or Have Analytics Unit for Each Department?

Many companies are establishing Enterprise Analytics department to handle the analytics deliverables for the entire company. There are companies that prefer to have Analytics units specifically for certain sections of the company.

For example, instead of having enterprise analytics unit for the entire company, a company may prefer to have analytics for operations department (Operations Analytics), or analytics team that focuses on marketing as Marketing Analytics, while the company may want a team to focus on risk measurement or Risk Analytics.

Are there some benefits in having analytics team at enterprise level? The answer is yes especially for a company that wants to remove silo approach to decision making. In the age of big data and leveraging the cloud technologies, companies can be more efficient and cost saving by not duplicating some of the infrastructures needed to get the best from analytics.

 

So with the decision to go with Enterprise Analytics Organization, if there is an existing analytics organization, the company can either revamp the existing organization and then manage it or build a new organization from the ground up:

​Whether managing or building an enterprise or functional analytics organization from the groud-up, there are basic deliverables that the analytics organization has to deliver. Six of these deliverables include:

Are you looking for additional information on Navigating Existing Analytics Organization and how best to get the most out of the deliverables to meet the strategic direction of your company? 

Managing Analytics Organization To the Next Level

Building Analytics Organization From the Ground-Up

Are you building your Analytics Organization from the ground up? Here are some pointers to help along the way on what you can do to get the most out of the deliverables to meet the strategic direction of your company? 

Some of the Departments within Enterprise Analytics Unit + Obvious Deliverables
(Static, Online, Real-time and On-Demand Deliverable Modes)

Descriptions

  • Data Management

  • Survey and Research

  • Performance Management

    • Performance Metrics (PMs)

    • Key Performance Indicators (KPIs)

    • Performance Sensors

  • Advanced Business Analytics

  • Strategic Initiatives

Descriptions

  • Real-time metrics

  • Leading indicators

  • Aerial with insight views

  • Forward looking

  • Alerts and triggers

  • Predictive dynamic processes

  • Online analytical tools

  • 24/7

Type of Dashboards

  • Executive

  • Enterprise

  • Workflow

  • Operational

Availability

  • Mobile Devices

  • PC Monitors

  • Metrics Rooms

  • Command Centers

Operational Content Management For:

  • Strategy metrics

  • Operations metrics

  • Performance metrics

  • Incident metrics

  • Policy and compliance metrics

Advanced Operational Applications:

  • Scenario analysis

  • Opportunity for benchmarking against best practices and existing industry standards

  • Leadership value management

Index Descriptions

  • Strategic Business Review

    • Strategy Landscape - Growth Enhancement Plan

    • Segment Attractiveness vs. Our Capabilities

    • SWOT Analysis

    • Growth Opportunities Pipeline

    • Strategic Framework Towards the Objectives

    • Segment competitor analysis

    • Relative segment competitor positions

  • Business Review

    • New Business Update

    • Renewal and Ongoing Business Update

    • Month, Quarter and New Business Update

    • Month, Quarter and YTD Renewal and Ongoing Business Update

  • Portfolio Review

    • Product Overview        

    • Product Quality

    • Portfolio Segmentation  

    • Historical Performance

    • Portfolio Composition

    • Portfolio Fit      

    • Exposure Profile 

 

  • Market Update  and Trends

    • Market Overview

    • Competitor analysis

    • Competitor Coverage Changes

    • Distribution/Channel Changes

    • Price and Persistency

    • Customer Priorities and  Strategy

  • Enterprise Risk and Emerging Risks

    • Including for example - Volatility

  • Industry Best Practices Review

    • Strategies for building successful portfolios

    • Best practices for identifying opportunities

    • Uses of  internal/external data to model & evaluate opportunities

  • Regulatory/Legal Issues

  • Environment Changes

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