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Maximizing Value With Practical Analytics


July 2016 | by Shawn Fountain

Intuitive Visualizations and Proactive Performance Tracking

Analytics is an exciting and dynamic area given its potential to help with both tactical and strategic business challenges. One of the challenges where analytics is being leveraged is improving operational performance. The difficulty is finding the right tools to do so practically and cost-effectively. Leveraging the following guidelines can help gain maximum value from analytics investments.

  1. Improve operational performance by addressing specific business needs to increase reliability, reduce risk, and improve customer and regulatory satisfaction.
  2. Focus on the end result including the user experience and making the results available via intuitive and concise visualizations.
  3. Avoid noise by providing the right information in the fewest clicks via an intuitive and concise user interface.
  4. Increase productivity by automatically highlighting and prioritizing issues.
  5. Establish clear ownership and expectations by setting goals and tracking performance against those goals.

In many ways these are common sense recommendations. However, applying them effectively and consistently is more difficult than it would seem. In the race to leverage analytics, there is additional risk of not following a reasonable process, of not being practical, resulting in not achieving the expected value.

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