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Executive BI, Analytics, Modeling and Insights Strategy Framework Practices

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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.

Published in: Technology
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Executive BI, Analytics, Modeling and Insights Strategy Framework Practices

  1. 1. Executive BI, Analytics & Insights Strategy Framework Date: February 2014 Website: Email: http://www.insightfocus.com.au info@insightfocus.com.au Do not forget to click on the ‘Follow’ button to ensure you do not miss out on future presentations Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  2. 2. Contents • 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  3. 3. The Strategy Creation Framework You 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 Business Intelligence, Analytics & Insights Steering Committee Vision Define Information Scope example: 'Managing, communicating and acting on information, intelligence and insights to effectively maintain and create shareholder value' example: 'storing and Communicating something that is known' example: • Areas/Activities • Purpose • Context • Time • Process • Structure Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  4. 4. 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  5. 5. 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. Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  6. 6. The Strategy Development Framework Strategy Development Framework for BI, Data Warehouse, Analytics, Modelling & Insights End User Survey End User Capability Assessment Corporate Strategy Value Chain Inventory Review Internal Technical Capability Review SBU & BU Strategies End User Workshops & Interviews Requirements Process Map Key Considerations Creation Of Roadmap for BI Strategy Strategy Implementation Define Future Technical Environment Measurement of Implementation Success Strategy Augmentation Feedback Loop Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  7. 7. Need to Find the Balance in Key Strategy Inputs People Roles Skills Goals Compensation Finding The Balance Governance Process The Sponsor The Charter Structure Funding Services Measuring Communication Project Mgt Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  8. 8. Capability & Maturity in BI, Analytics & Insights • 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) Maturity of Your Current & Future State Capabilities Predictive Analytics Insights Analytics Modelling & Planning Reporting Business Intelligence Preliminary Data Warehouse Repeatable Tactics Managed Strategy Optimized Infrastructure Maturity Non Existent Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  9. 9. Key Considerations in the Strategy Development Strong Sponsor Steering Committee Defined Scope & Minimize Scope Creep Governance Disciplined Project Management Organizational Structure Effective Leadership & Communication Current Capabilities & Future State Gaps Infrastructure & Software Scoping Training & Support Data & Information Accuracy & Integrity Key Considerations Management Structure Solution Scalability & Flexibility Standardization Appropriate Resourcing System Integration Clearly Defined Requirements Socializing & Obtaining Buy-In of Initiative Common Data Model & Metric Definitions Internal & External Source Systems & Current Data Capture Regular Status Updates on Progress & Benefits Realization Aligned to Meet Corporate Strategy Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  10. 10. Proven Strategy Practices That Work Some proven BI, Analytics, Insights & Modelling practices that encourage successful initiatives are a follow: • 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  11. 11. Key Areas of the Operating Model A 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  12. 12. 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  13. 13. 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  14. 14. 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  15. 15. 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  16. 16. 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  17. 17. 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 Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  18. 18. BI, Analytics, Insights & Modelling Opportunities • Alignment to Strategy • Pricing Strategy • Consistent Messaging Strategy • Data Warehouse is a Strategic Asset • EIM Processes & Systems • Governance • Risk Management •Measure Revenue Channels • Minimize Returns • Inventory Management • One Version of Truth • Know Customers Insights • Forward Revenue Analysis • CRM Analytics • Increased Timeliness • Customer Trends • Channels Analysis • Customer Loyalty • Documented Process • Monitor Marketing ROI • Customer Behavior • Demand Forecasting • Removing Data Silos • Increase Service Levels • Revenue Management • Campaign Management • Consolidated Data Source • Revenue Streams Analysis • Customer Acquisition • Loyalty & Retention • Consistent Reporting & Analysis • Customer Segmentation Customer • Modelling Frequency, Recency, & Monetary • Real Time Optimization • Formalized Training & Support • Target Marketing • Scalability • Desktop & Mobile Platforms •Flexible Analysis Capabilities • Management Performance • Build Internal Capabilities • Object & Report Catalog • Operations • Increased Productivity • Workforce Modelling • Catalogue of Services • Cultural Shift Organization • Transparency of Performance • Integrate Multiple Data Sources Internal & External • Real Time Reporting & Analysis Financial •Increase Revenue Op. • Fraud Identification • Reduce Overheads • Increase Net Cash Flow In • Procurement Analysis • Balance Sheet Management • Increase Yields & Margins • DR & BCP • Effective Modelling • Investment Management • Security & Access • Business Case Copyright © 2014 InsightFocus.com.au • All Rights Reserved
  19. 19. 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.au Email: info@insightfocus.com.au Copyright © 2014 InsightFocus.com.au • All Rights Reserved

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