Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Small Steps to Analytics Maturity!
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > Small Steps to Analytics Maturity!
Analytics

Small Steps to Analytics Maturity!

Ajay Kelkar
Ajay Kelkar
4 Min Read
SHARE

Recently a client asked me an interesting question: How would you start analytics in an organization? 
This also seems to depend on the industry. While Banking has greater maturity in the use of Analytics, FMCG companies may have different challenges given the lack of end customer data. Also it takes time to build analytical maturity in a company. And it takes a certain unique mix of people- a combination of left & right brain talent! 

Recently a client asked me an interesting question: How would you start analytics in an organization? 
This also seems to depend on the industry. While Banking has greater maturity in the use of Analytics, FMCG companies may have different challenges given the lack of end customer data. Also it takes time to build analytical maturity in a company. And it takes a certain unique mix of people- a combination of left & right brain talent! 

 Left & right brain

The question was interesting from many perspectives:

More Read

Attaining Sustainable Growth through Corporate Social…
How to Get Started with Value Add Forecasting
Merging Predictive Analytics Models And WAF For Top-Tier Security 
Important Tips For Leveraging Data Analytics For An Effective API Strategy
Intro to Predictive Analytics
  1. What exactly is analytics and does the name describe the function?
  2. How should one go about starting doing the work that analysts are supposed to do?
  3. Where should the Analytics team report-is it part of a marketing team or somewhere else?
  4. What kind of issues should analytics try and solve?
  5. How much money needs to be invested to really make Analytics work?

My experience across both Retail & Retail banking has been that it is best to start small, very small! A lot of analytics can be done on an excel sheet and does not require a PhD in statistics to do. The simpler the analysis the “lesser” is the barrier in implementing the call for action that emanates from it. So my first suggestion to anyone starting out this kind of work is to follow the well know “KISS principle”(Keep it simple stupid). The most important next step from here is to choose the business area where you want to make an impact.

I would go for the counter intuitive bit here and try to make your analysis work for a business unit that is not doing so well. Businesses doing very well, have a lot of competing ideas clamouring for a share of the credit. It’s in the businesses that need help, that you will find maximum support. And finally I would say that choose business themes that are close to the CFO’s heart! The CFO’s support for analytics is probably the most critical part of what you would do-this forms the building blocks on which you can scale up your efforts in the years to come!
I have often come across situations where organization seem to believe that investing in top end statistical resources and buying high end technology is enough to extract value from analytics. The truth is vastly different and I strongly believe that embedding simple ideas and focussing far more on execution is critical for an organization to succeed in analytics based strategy.

 

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

AI Document Verification for Legal Firms: Importance & Top Tools
AI Document Verification for Legal Firms: Importance & Top Tools
Artificial Intelligence Exclusive
AI supply chain
AI Tools Are Strengthening Global Supply Chains
Artificial Intelligence Exclusive
data analytics and truck accident claims
How Data Analytics Reduces Truck Accidents and Speeds Up Claims
Analytics Big Data Exclusive
predictive analytics for interior designers
Interior Designers Boost Profits with Predictive Analytics
Analytics Exclusive Predictive Analytics

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

data warehouse
Best PracticesBig DataBusiness IntelligenceData WarehousingExclusiveModeling

Data Warehousing: Lessons We Have Failed to Learn

9 Min Read

Spurring Growth in the UK Economy with Data Analysis

4 Min Read

Big Insights from the Big Analytics Roadshow

7 Min Read

Analyzing Logs and More – A Big Data Architecture

7 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai chatbot
The Art of Conversation: Enhancing Chatbots with Advanced AI Prompts
Chatbots
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?