How Well Does Your Company Use Analytics?

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Every company is trying to capitalize on the promise of data and analytics. Here's how to do it effectively.

. We then created a tool — available below — that helps leaders identify where their firm falls on this spectrum and the organizational characteristics and capabilities they may need to develop to further advance on their analytics journey.

Have each workshop participant individually answer the diagnostic-tool questions below using the one to five scale for each item. Next, aggregate and average respondents’ scores on each of the seven analytics capabilities dimensions . This will provide a single, overall score on each dimension, revealing broad areas where the company may be performing well, or not.If the findings reveal areas of notable weakness, leaders may want to focus first on these to create a stable analytics foundation.

Help employees become comfortable with making decisions based on data rather than instinct or experienceTo strengthen leadership commitment: Create performance management incentives to encourage cross-functional collaboration and partnerships in the use of data and analytics

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Beautiful Topic! Advanced Analytics Technologies and Tools are becoming game changer...

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