The objective of analytics projects is to achieve transformation in the way productivity is gained.
Analytics projects achieve one of three business or operations objectives: Revenue Enhancement, Operations Optimisation and Risk Management. Analytics project cannot be an isolated model building and technology exercise. When that happens, the project stand a high probability to fail. Other than the focus on applying analytics method, for example predictive, forecasting or optimisation using structured or unstructured data, Information management and organisation transformation constitute other large aspect of works to ensure a successful implementation. To manage an analytics project well is therefore to implement the “Science” aspect of the work (software, hardware, modelling techniques, data warehouse, data integration, reporting solutions, etc.) and the “Art” (process, data governance, policies, people, skills, change, etc.) aspect of the work well.
We believe that the objective of a data analytics project cannot be successful if it is a standalone or point solution. We need to identify how this, and other projects, can be expanded and operationalized across the organization by demonstrating the value of data, analytics, and the potential of data-driven insight together with alignment of process and people in order to realize the full potential of data and their insight. Analytics projects is also a journey where the organization will continue to enhance the model and the process and skills of its people. Thus an analytics project promotes a continuous improvement culture when done correctly.
At Azendian Solutions, we have experience in process reengineering, skills improvement, governance enhancement and change management.