executive bi, analytics, modeling and insights strategy framework practices
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DESCRIPTION
This presentation looks at the frameworks Executives need to consider in their BI, Analytics, Modeling, and Insights Strategies. This include frameworks on BI, Analytics. Insights and Modeling strategy creation, strategy development, capabilities, considerations, proven strategy practices, operating models and opportunities.TRANSCRIPT
Executive BI, Analytics & Insights Strategy Framework
Date: February 2014
Website: http://www.insightfocus.com.auEmail: [email protected]
Copyright © 2014 InsightFocus.com.au • All Rights Reserved
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Contents
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• Strategy Creation Framework for BI, Analytics, Insights & Modelling
• Strategy Development Framework for BI, Analytics, Insights & Modelling
• Finding the Balance in Key Strategy Inputs
• Capability & Maturity in BI, Analytics, Insights & Modelling
• Key Considerations in the Strategy Development
• Proven Strategy Practices That Work
• Key Areas of the Operating Model
• BI, Analytics, Insights & Modelling Opportunities
The Strategy Creation FrameworkYou need to develop your Business Intelligence (BI), Analytics & Insights strategy creation framework before commencing any BI, Analytics or Insights initiative.
You BI, Analytics & Insights strategy creation framework will include some of the following areas:• An initiative sponsor.• Creation of a Steering Committee to decide on:
• The Vision• Define Information• The Scope
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Vision Scopeexample:
'Managing, communicating and acting on information, intelligence and insights
to effectively maintain and create shareholder value'
Define Informationexample:
'storing and Communicating something
that is known'
example:• Areas/Activities • Purpose • Context • Time • Process
• Structure
Business Intelligence, Analytics & Insights Steering Committee
The Strategy Creation Framework (continued)
The principles in developing the philosophy behind the strategy creation framework include:• Supporting the achievement of the corporate strategy• Governance• End user focused• Developing internal capabilities• Productivity• Accuracy• Timeliness• Storage• Life cycle of data & disposing/archiving• Ethics• Development of employees• Internal & external data sourcing
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The Strategy Creation Framework (continued)
Once the strategy creation framework has been developed your are ready to formulate the following strategies:• Data Warehouse• Reporting• Business Intelligence• Dashboard• Analytics• Modelling & Planning• Insights
Ensure the above strategies are aligned to the corporate strategy.
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The Strategy Development Framework
Corporate Strategy
Value Chain
SBU & BU Strategies
Strategy Development Framework forBI, Data Warehouse, Analytics, Modelling & Insights
Internal Technical Capability Review
End User Capability
Assessment
Inventory Review
End User Survey
End User Workshops & Interviews
Requirements Process Map
Creation Of Roadmap for BI Strategy
Define Future Technical Environment
Strategy Implementation
Key Considerations
Measurement of Implementation Success
Strategy Augmentation Feedback Loop
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Need to Find the Balance in Key Strategy Inputs
GovernanceThe SponsorThe Charter
StructureFunding
PeopleRolesSkillsGoals
Compensation
FindingThe
BalanceProcessServices
MeasuringCommunication
Project Mgt
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Capability & Maturity in BI, Analytics & Insights
Maturity of Your Current & Future State Capabilities
Non Existent
Preliminary
Repeatable
Managed
Optimized
Maturity
Infra
stru
ctur
e
Stra
tegy
Tacti
cs
Data
War
ehou
se
Repo
rting
Busin
ess I
ntel
ligen
ce
Mod
ellin
g &
Pla
nnin
g
Anal
ytics
Insig
hts
Pred
ictiv
e An
alyti
cs
• Benchmark your current and future state internal capability requirements.• Develop a capabilities road map• Ensure capability benchmarking & roadmap includes:
• SBUs/BUs• Departments• Subject matter experts (operational & technical)
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Key Considerations in the Strategy Development
Organizational Structure
Key Considerations
Current Capabilities & Future State Gaps
Strong Sponsor
Internal & External Source Systems & Current Data Capture
Governance
Training & Support
Socializing & Obtaining Buy-In of Initiative
Effective Leadership & Communication
Management Structure
Standardization
System Integration
Appropriate Resourcing
Common Data Model & Metric Definitions
Steering Committee Defined Scope & Minimize Scope Creep
Disciplined Project Management
Regular Status Updates on Progress & Benefits Realization
Clearly Defined Requirements
Aligned to Meet Corporate Strategy
Infrastructure & Software Scoping
Data & Information Accuracy & Integrity
Solution Scalability & Flexibility
Proven Strategy Practices That Work
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• Take a holistic view in your strategy to the whole organization
• Align strategy with corporate strategy• Get stakeholder & executive buy-in• Alignment with the IT strategy• A business case with expected benefits• Take an enterprise perspective• Define the success factors and measure them• Ensure responsibilities and accountabilities are
defined and clearly communicated• Follow your strategy roadmap to design your
environment.• Follow & implement proven best practices• Follow formal methodologies & frameworks
• The strategy should be adaptable and adjusted as required to the organizational environmental and corporate strategy changes
• Document processes including change management
• Data is a strategic & unique asset to the organization
• Do not focus on technology or software tool sets
• Perform current state, future state & gap analysis
• Take an iterative implementation approach• Ensure governance policy & procedures abd
followed• Identify the maturity and gaps in the
organization’s capabilities
Some proven BI, Analytics, Insights & Modelling practices that encourage successful initiatives are a follow:
Key Areas of the Operating ModelA well designed and implemented Operating Model for the BI, Analytics, Insights and Modelling will include some of the key areas:• Intelligence & Insights Committee• Intelligence & Insights Leader• Communication Strategy & Management• User Community• Program Management• Project Management• Infrastructure Support• Performance Management• IT Infrastructure• Enterprise Applications• Analytics, Insights & Modelling Resources• Business Intelligence Resources• Data Warehouse Resources
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Key Areas of the Operating Model (continued)
The Intelligence & Insights Committee will be responsible for:• Insights & Intelligence Sponsor(s)• Governance of Programs/Initiatives• Governance of Data• Initiatives Prioritization• Data & Metrics Resolution• Information Security Policy
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Key Areas of the Operating Model (continued)
Some of the Intelligence & Insights Leader’s responsibilities will include:• Alignment and Supporting the Corporate Strategy• Communication Strategy & Management• Project Management Including Requirements and Solutions• Analytics, Insights & Modelling Resources• Business Intelligence Resources• Data Warehouse Resources• New Initiatives Delivery & Support• Interaction with the:
• User Community Requirements & Experience• Program Management• User Community• IT Infrastructure, Applications and Support
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Key Areas of the Operating Model (continued)
The operating model specific to the User Community will encompass:• IT Demand Management• Information, Intelligence & Insights Needs• Information, Expertise & Support• Business Process Management• Project Requirements• Solutions including:
• Standardized Applications• Uniform Data• End User Training & Support
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Key Areas of the Operating Model (continued)
The operating model specific to Analytics, Insights & Modelling resources will encompass:• Analytics Excellence,• Report Writing• User Testing• Deployment • Training• Change Management
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Key Areas of the Operating Model (continued)
The operating model specific to Business Intelligence resources will encompass:• Delivery Framework• Standardized BI Objects• Self Service BI Catalogue• Deployment & Socializing• End User Training• Security / Privacy• Data Ownership • Business Data Stewardship
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Key Areas of the Operating Model (continued)
The operating model specific to Data Warehouse resources will encompass:• Master Data Management• Standardized Data,• Metric Definitions• Data Integrity Resolution• Data Source Transparency• Information Security• Data Quality Analysis• IT Data Stewardship
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Copyright © 2014 InsightFocus.com.au • All Rights Reserved
BI, Analytics, Insights & Modelling Opportunities
•Flexible Analysis Capabilities
Strategy
Customer
Organization
Processes & Systems
Financial
• Governance
• Risk Management
• One Version of Truth
• Increased Timeliness
• Build Internal Capabilities
•Increase Revenue Op. • Increase Yields & Margins
• Reduce Overheads • Increase Net Cash Flow In
•Measure Revenue Channels
• Know Customers Insights
• Customer Trends
• Monitor Marketing ROI
• Documented Process
• Increase Service Levels
• Revenue Streams Analysis
• Effective Modelling
• Minimize Returns
• Forward Revenue Analysis
• Channels Analysis
• Customer Behavior
• Procurement Analysis
• Workforce Modelling
• Removing Data Silos
• Alignment to Strategy
• Consistent Messaging
• Consolidated Data Source
• Consistent Reporting & Analysis
• Formalized Training & Support
• Scalability
• Desktop & Mobile Platforms
• Object & Report Catalog
• Catalogue of Services
• Integrate Multiple Data Sources Internal & External
• Increased Productivity
• Fraud Identification
• Demand Forecasting
• EIM
• Operations
• Data Warehouse is a Strategic Asset
• Revenue Management
• Inventory Management
• Pricing Strategy
• CRM Analytics
• Customer Loyalty
• Real Time Reporting & Analysis
• Real Time Optimization
• DR & BCP
• Security & Access
• Modelling Frequency, Recency, & Monetary
• Management Performance
• Business Case
• Customer Segmentation
• Target Marketing
• Loyalty & Retention• Customer Acquisition
• Campaign Management
• Cultural Shift • Transparency of Performance
• Balance Sheet Management • Investment Management
Thank You
Contact us to discuss how we can help you achieve an effective and actionable Executive Business Intelligence Strategy Frameworks by following best practice standards.
Do not forget to click on the ‘Follow’ button to ensure you do not miss out on future presentations.
Website: http://www.insightfocus.com.auEmail: [email protected]
Copyright © 2014 InsightFocus.com.au • All Rights Reserved