Data analytics adds significant business value – Canadian Investor

Data analytics is receiving vast amounts of attention in the trade press, on many websites and at conferences. References are even spilling into the mainstream media.

Data analytics increases ROI because it reduces the time to business value for these initiatives. Examples include net income trend analysis, project progress and schedule risk reporting, cost forecasting and competitor performance analysis.Structuring your data analytics projects to deliver new visible capabilities every 90 days to remind stakeholders of the value you’re delivering.

You can ensure data analytics adds tangible business value by focusing on the only two measures that matter:Reduce cost or increase margin by using data analytics to find real opportunities. Help the company stop guessing what opportunities might be real and stop addressing counterproductive ideas. Stakeholders have no way of knowing if the project sponsor’s or the project team’s business value assertions are being exaggerated.

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