“Big Data, Big Data, Big Data!” It is the mantra of every data analytics and business intelligence software vendor. “All you need is the right tool,” they say, and you too can achieve “big data analytics.” Big Data is a reality all organizations must contend with. Domo produced a nice infographic depicting minute-by-minute data production. The statistics are mind-boggling.
How does an organization contend with this? And frankly, many organizations are simply struggling to achieve results with the data they own. It already feels like “big data” to them. In fact, so much has been said about Big Data that I think we might miss the actual purpose of data analytics:
The Data Analytics Formula For Success
Organizations can achieve amazing insights and incredible results when they start with their strategic business objectives and identify what is most important to their business and industry. This must be followed with an intentional process of delivering the right information to the right people in the right time.
Where do I begin?
Begin with the right alignment to your business strategy by asking yourself these “Top 3” questions:
- What are the top 3 business challenges we face today?
- What are the top 3 measurable business processes which would most positively impact these challenges?
- What 3 measurements would I consider the most impactful to improve each of these business processes?
What are the greatest challenges facing your business today? Do you struggle getting date to the appropriate members of your organization? We would love to hear your feedback. And if this has been helpful to you, please feel free to share with others.