Executive BI, Analytics, Modeling and Insights Strategy Framework Practices

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

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

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


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


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.


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

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


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


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


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

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

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


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


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


The operating model specific to Analytics, Insights & Modelling resources will
encompass:
• Analytics Excellence,
• Report Writing
• User Testing
• Deployment
• Training
• Change Management


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


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


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


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


Executive BI, Analytics, Modeling and Insights Strategy Framework Practices

Recomendados

Recomendados

Más contenido relacionado

La actualidad más candente

La actualidad más candente (19)

Destacado

Destacado (12)

Similar a Executive BI, Analytics, Modeling and Insights Strategy Framework Practices

Similar a Executive BI, Analytics, Modeling and Insights Strategy Framework Practices (20)

Último

Último (20)

Executive BI, Analytics, Modeling and Insights Strategy Framework Practices