Win with Advanced Business Analytics: Creating Business Value from Your Data

STRATEGY

Analytics implementation strategy puts in place the master components of the road map created in the vision stage. The strategy must define the objectives for attaining that goal and the activities required to get there; business intelligence projects can take months and years, so it is important to prioritize the phases needed that will be of benefit to the organization. The strategy must also define metrics that will be used to monitor progress on the objectives. The analytics implementation strategy directs the objectives of other operational and sales strategies, as well as the customer relationship management implementation strategy.

Two elements are extremely important to a successful analytics implementation strategy: focus and commitment. The first element of an effective analytics implementation strategy is to focus on addressing the company’s business challenges in order of priority. We covered this topic in detail in Chapter 3, so you understand the importance. However, in developing the analytics implementation strategic plan, it’s especially important to look back and make sure you are aligned with the company’s critical business challenges with each analytics project. This will ensure that projects remain focused and avoid expanding in scope unnecessarily. For example, let’s imagine that a critical business objective for your company is to expand the number of different products that companies purchase from you. Therefore, when implementing an analytics project ...