A new direction for analytics – the Analytics and Insights Council
All organizations – retail or banking, big or small, brick or mortar – are competing on information arbitrage more than anything else.
Companies that are market leading are those that are able to glean scores of data about their customers and create actionable insights quicker than the competition. They are also the ones that are enabling the consumption of these insights within different business divisions of the organization and are able to quickly react to seize the advantage. They access more data sources, mine more data, develop more insights and communicate these insights to the business in a quick and timely manner.
This focus on better creation and faster consumption of analytics within organization has led companies to form the Analytics & Insight Council (AIC). AIC will become an integral function of all organizations in the next decade. The mandate of this council will be to go beyond setting strategic direction for the creation of analytics across business groups. It will include, amongst other things, enabling the consumption of analytics and cross pollination of ideas across the organization.
What do you think should be the role/structure of the AIC? Share your opinions with us.