Analytics has evolved over the last 20 years. It has transformed from a mere tool that generates data insights, into a core driver of business outcomes.
Trends and cycles in data analytics have come and gone over this period of time, but one trend in particular has remained with consistency. That is, the homogenisation of the analytics function under one centralised analyst unit.
While this centralisation does come with its advantages, such as cost savings and reporting consistencies, there is an underlying issue. By centralising the analytics function, organisations are removing analytics from the frontline of business where organisations interact with the customers, and where real-time decisions should be made.
The frontline of business can become a complex operation, and businesses must move beyond analytics in order to manage the frontline deluge.
In this video, our CEO, Zachary Zeus recommends moving beyond analytics, to the concept of ‘ANDalytics’. Zach shares his insights as to why it can reduce the complexity of the frontline, and its importance in achieving business outcomes.
Transcript:
When you have worked in an industry for more than 20 years you start to see some trends and cycles.
One trend we see is a centralisation of the analytics function, where analysts are moved from lines of business to one centralised analyst unit. This often comes with a consolidation of analytics tools, methodologies and philosophy.
So why do organisations choose to do this? They do this to create a Center of Excellence, to realise cost savings and to achieve consistency in numbers and reporting.
And I agree with these benefits. However, I also see a key problem with this approach. The problem is that we are removing analytics from the frontline of business. This is where the daily business decisions are being made. This is where the organisation is meeting with its customer base. This is where the analytics are most needed and can have the greatest impact.
We all know that business is complex. It is cumbersome, and it can be messy. Customers can be demanding, and systems often don’t meet the needs of operations. This means that when we build reports and perform analytics, we must consider that frontline, the business operation. Where the decisions are made. Where business is being done. And we must consider the complexity and messiness of the frontline.
So how can you manage this complexity? This messiness? We suggest going beyond Analytics – to ANDALYTICS. What do I mean by ANDalytics?
I mean your approach to analytics must be Multi-Functional (as in it should take into account view-points of various functional units. It should be Multi-Technology (as in it does not matter whether your environment is made up of Hitachi or IBM or Microsoft), and it should be Multi-Environment (as in the thought process and experiments that you start on your desktops can be deployed and scaled quickly, irrespective of the environment).
View analytics as a constantly evolving capability and function. And understand that analytics needs to be an organisational capability not just a centralised function. Most importantly, the focus of ANDalytics is Business Outcomes.
Want to take your approach from Analytics to ANDalytics? Allow us to increase the value you get from your analytics investment.
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Zachary Zeus
Zachary Zeus is the Founder of BizCubed. He provides the business with more than 20 years' engineering experience and a solid background in providing large financial services with data capability. He maintains a passion for providing engineering solutions to real world problems, lending his considerable experience to enabling people to make better data driven decisions.