Executive BI, Analytics, Modeling and Insights Strategy Framework Practices

Executive BI, Analytics & Insights Strategy Framework

Date: February 2014

Website: http://www.insightfocus.com.auEmail: [email protected]

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Contents


• Strategy Creation Framework for BI, Analytics, Insights & Modelling

• Strategy Development Framework for BI, Analytics, Insights & Modelling

• Finding the Balance in Key Strategy Inputs

• Capability & Maturity in BI, Analytics, Insights & Modelling

• Key Considerations in the Strategy Development

• Proven Strategy Practices That Work

• Key Areas of the Operating Model

• BI, Analytics, Insights & Modelling Opportunities

The Strategy Creation FrameworkYou need to develop your Business Intelligence (BI), Analytics & Insights strategy creation framework before commencing any BI, Analytics or Insights initiative.

You BI, Analytics & Insights strategy creation framework will include some of the following areas:• An initiative sponsor.• Creation of a Steering Committee to decide on:

• The Vision• Define Information• The Scope


Vision Scopeexample:

'Managing, communicating and acting on information, intelligence and insights

to effectively maintain and create shareholder value'

Define Informationexample:

'storing and Communicating something

that is known'

example:• Areas/Activities • Purpose • Context • Time • Process

• Structure

Business Intelligence, Analytics & Insights Steering Committee

The Strategy Creation Framework (continued)

The principles in developing the philosophy behind the strategy creation framework include:• Supporting the achievement of the corporate strategy• Governance• End user focused• Developing internal capabilities• Productivity• Accuracy• Timeliness• Storage• Life cycle of data & disposing/archiving• Ethics• Development of employees• Internal & external data sourcing



The Strategy Creation Framework (continued)

Once the strategy creation framework has been developed your are ready to formulate the following strategies:• Data Warehouse• Reporting• Business Intelligence• Dashboard• Analytics• Modelling & Planning• Insights

Ensure the above strategies are aligned to the corporate strategy.


The Strategy Development Framework

Corporate Strategy

Value Chain

SBU & BU Strategies

Strategy Development Framework forBI, Data Warehouse, Analytics, Modelling & Insights

Internal Technical Capability Review

End User Capability

Assessment

Inventory Review

End User Survey

End User Workshops & Interviews

Requirements Process Map

Creation Of Roadmap for BI Strategy

Define Future Technical Environment

Strategy Implementation

Key Considerations

Measurement of Implementation Success

Strategy Augmentation Feedback Loop


Need to Find the Balance in Key Strategy Inputs

GovernanceThe SponsorThe Charter

StructureFunding

PeopleRolesSkillsGoals

Compensation

FindingThe

BalanceProcessServices

MeasuringCommunication

Project Mgt


Capability & Maturity in BI, Analytics & Insights

Maturity of Your Current & Future State Capabilities

Non Existent

Preliminary

Repeatable

Managed

Optimized

Maturity

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• Benchmark your current and future state internal capability requirements.• Develop a capabilities road map• Ensure capability benchmarking & roadmap includes:

• SBUs/BUs• Departments• Subject matter experts (operational & technical)


Key Considerations in the Strategy Development

Organizational Structure

Key Considerations

Current Capabilities & Future State Gaps

Strong Sponsor

Internal & External Source Systems & Current Data Capture

Governance

Training & Support

Socializing & Obtaining Buy-In of Initiative

Effective Leadership & Communication

Management Structure

Standardization

System Integration

Appropriate Resourcing

Common Data Model & Metric Definitions

Steering Committee Defined Scope & Minimize Scope Creep

Disciplined Project Management

Regular Status Updates on Progress & Benefits Realization

Clearly Defined Requirements

Aligned to Meet Corporate Strategy

Infrastructure & Software Scoping

Data & Information Accuracy & Integrity

Solution Scalability & Flexibility

Proven Strategy Practices That Work


• Take a holistic view in your strategy to the whole organization

• Align strategy with corporate strategy• Get stakeholder & executive buy-in• Alignment with the IT strategy• A business case with expected benefits• Take an enterprise perspective• Define the success factors and measure them• Ensure responsibilities and accountabilities are

defined and clearly communicated• Follow your strategy roadmap to design your

environment.• Follow & implement proven best practices• Follow formal methodologies & frameworks

• The strategy should be adaptable and adjusted as required to the organizational environmental and corporate strategy changes

• Document processes including change management

• Data is a strategic & unique asset to the organization

• Do not focus on technology or software tool sets

• Perform current state, future state & gap analysis

• Take an iterative implementation approach• Ensure governance policy & procedures abd

followed• Identify the maturity and gaps in the

organization’s capabilities

Some proven BI, Analytics, Insights & Modelling practices that encourage successful initiatives are a follow:

Key Areas of the Operating ModelA well designed and implemented Operating Model for the BI, Analytics, Insights and Modelling will include some of the key areas:• Intelligence & Insights Committee• Intelligence & Insights Leader• Communication Strategy & Management• User Community• Program Management• Project Management• Infrastructure Support• Performance Management• IT Infrastructure• Enterprise Applications• Analytics, Insights & Modelling Resources• Business Intelligence Resources• Data Warehouse Resources


Key Areas of the Operating Model (continued)

The Intelligence & Insights Committee will be responsible for:• Insights & Intelligence Sponsor(s)• Governance of Programs/Initiatives• Governance of Data• Initiatives Prioritization• Data & Metrics Resolution• Information Security Policy



Some of the Intelligence & Insights Leader’s responsibilities will include:• Alignment and Supporting the Corporate Strategy• Communication Strategy & Management• Project Management Including Requirements and Solutions• Analytics, Insights & Modelling Resources• Business Intelligence Resources• Data Warehouse Resources• New Initiatives Delivery & Support• Interaction with the:

• User Community Requirements & Experience• Program Management• User Community• IT Infrastructure, Applications and Support



The operating model specific to the User Community will encompass:• IT Demand Management• Information, Intelligence & Insights Needs• Information, Expertise & Support• Business Process Management• Project Requirements• Solutions including:

• Standardized Applications• Uniform Data• End User Training & Support



The operating model specific to Analytics, Insights & Modelling resources will encompass:• Analytics Excellence,• Report Writing• User Testing• Deployment • Training• Change Management



The operating model specific to Business Intelligence resources will encompass:• Delivery Framework• Standardized BI Objects• Self Service BI Catalogue• Deployment & Socializing• End User Training• Security / Privacy• Data Ownership • Business Data Stewardship



The operating model specific to Data Warehouse resources will encompass:• Master Data Management• Standardized Data,• Metric Definitions• Data Integrity Resolution• Data Source Transparency• Information Security• Data Quality Analysis• IT Data Stewardship



BI, Analytics, Insights & Modelling Opportunities

•Flexible Analysis Capabilities

Strategy

Customer

Organization

Processes & Systems

Financial

• Governance

• Risk Management

• One Version of Truth

• Increased Timeliness

• Build Internal Capabilities

•Increase Revenue Op. • Increase Yields & Margins

• Reduce Overheads • Increase Net Cash Flow In

•Measure Revenue Channels

• Know Customers Insights

• Customer Trends

• Monitor Marketing ROI

• Documented Process

• Increase Service Levels

• Revenue Streams Analysis

• Effective Modelling

• Minimize Returns

• Forward Revenue Analysis

• Channels Analysis

• Customer Behavior

• Procurement Analysis

• Workforce Modelling

• Removing Data Silos

• Alignment to Strategy

• Consistent Messaging

• Consolidated Data Source

• Consistent Reporting & Analysis

• Formalized Training & Support

• Scalability

• Desktop & Mobile Platforms

• Object & Report Catalog

• Catalogue of Services

• Integrate Multiple Data Sources Internal & External

• Increased Productivity

• Fraud Identification

• Demand Forecasting

• EIM

• Operations

• Data Warehouse is a Strategic Asset

• Revenue Management

• Inventory Management

• Pricing Strategy

• CRM Analytics

• Customer Loyalty

• Real Time Reporting & Analysis

• Real Time Optimization

• DR & BCP

• Security & Access

• Modelling Frequency, Recency, & Monetary

• Management Performance

• Business Case

• Customer Segmentation

• Target Marketing

• Loyalty & Retention• Customer Acquisition

• Campaign Management

• Cultural Shift • Transparency of Performance

• Balance Sheet Management • Investment Management

Thank You

Contact us to discuss how we can help you achieve an effective and actionable Executive Business Intelligence Strategy Frameworks by following best practice standards.

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Website: http://www.insightfocus.com.auEmail: [email protected]


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