Tuesday, October 29, 2013

Converting Big Data and Analytics Insights Into Results

The IBM Institute for Business Value published today an executive report entitled Analytics: A blueprint for value - Converting big data and analytics insights into results, written by Fred Balboni, Glenn Finch, Cathy Rodenbeck Reese and Rebecca Shockley. According the study, in today’s competitive marketplace, executive leaders are racing to convert data-driven insights into meaningful results. Successful leaders are infusing analytics throughout their organizations to drive smarter decisions, enable faster actions and optimize outcomes. These are among the key findings from the 2013 IBM Institute for Business Value research study on how organizations around the globe are leveraging key capabilities to amplify their ability to create value from big data and analytics.

Through the research, they identified nine levers that enable organizations to create value from an ever-growing volume of data from a variety of sources – value that results from insights derived and actions taken at every level of the organization.

• Culture: Availability and use of data and analytics within an organization
• Data: Structure and formality of the organization’s data governance process and the security of its data
• Expertise: Development of and access to data management and analytic skills and capabilities
• Funding: Financial rigor in the analytics funding process
• Measurement: Evaluating the impact on business outcomes
• Platform: Integrated capabilities delivered by hardware and software
• Source of value: Actions and decisions that generate results
• Sponsorship: Executive support and involvement
• Trust: Organizational confidence

The research also identified three levels of value impact among the nine levers: Enable levers form the basis for big data and analytics; Drive levers are needed to realize value; and Amplify levers boost value creation.

That is an interesting and comprehensive look at organizational activities related to data and analytics. You can download the full IBM Institute for Business Value Study in (Registration required): http://ibm.co/9levers

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