5 ways to maximize the value of data analytics Posted on : Oct 30 - 2021

It’s one thing to gather large amounts of data and apply analytics to it; lots of organizations are doing that. It’s another thing entirely to gain optimum business value from that data and analysis.

Enterprises that have invested heavily in analytics tools might be doing so without finding ways to ensure business value actually results from their efforts. This could be happening for any number of reasons.

Here are some tips on how to ensure that investments in analytics pay off by delivering insights that make a difference, rather than just generating attractive reports that don’t say much.

Align analytics with business goals

More closely aligning IT efforts with the organization’s business goals is a key IT leader mandate in generating more value from data.

“Data analytics need to solve real business problems,” says Dan Simion, vice president of artificial intelligence and analytics at technology consulting firm Capgemini, who advises clients on the best ways to maximize insights and value from their data and analytics. “Starting with use cases that are business-specific can be a great approach to earn buy-in from more stakeholders who may be outside of IT.”

This strategy helps the rest of the organization to see the value across various functional areas and business units, because the data is driving clear results that are understandable in business terms. “Starting with the business problem, developing a business case, and following up on it is pivotal to uncover the value from the data,” Simion says. As part of this process, the alignment between the business and IT is critical, he says. View more