The linkage between the analytics capability and high performance companies is clear: Companies using analytics to support decision-making perform twice better than competition. The combination of data and powerful and sophisticated analytics tool allows Companies to gain insights that can improve operational performance and create new market opportunities
But the number of companies able to successfully navigate their Analytics Transformation Journey is quite short. The barriers to large scale adoption of the analytics inside Companies are not technological; lack of standardization in capturing and analyzing data, organizational barriers, lack of Executive sponsorship and talents shortage are the main blockers.
As a result, Companies find themselves building data warehouses and data lakes, hiring and sourcing expensive talent, and developing advanced analytics and machine learning models without really changing the way decisions are made.
To maximize their return on analytics investments, organizations should learn how to be both proactive and disciplined in managing the cultural change required to power an analytics transformation.