Prioritize Your Data and Analytics Projects Wish List for Maximum Business Impact
The big challenge in analytics transformation is simply knowing where to start. Few enterprises would tell you their data house is in order, and they are just lacking that one final project to complete the vision. The situation is that there are usually many competing and overlapping priorities, from adding real-time data feeds, standing up a new cloud data warehouse, to building a data lake. Prioritizing those projects and planning budgets is half the battle.
The first step, as I’ve written before, is to make sure any and all analytics plans fit into an overall business strategy and have a clear desired future state. Don’t create new silos of skills or data, and don’t invest this year in something that won’t integrate cleanly with what you will be investing in next year. But assuming you have that issue squared away, you’re still probably looking at multiple projects and a certain sense of paralysis as you try to decide which project to embark upon first.
Maybe we can help. We’ve just launched a complimentary analytics project assessment tool that lets you take a very simple, high-level walk through your backlog/wish list of data initiatives. What you get after taking the eight-minute assessment is a quadrant graph that gives you an at-a-glance view of your projects based on business criticality and impact. You’ll also get a set of next-step recommendations for how to start those projects, from a data management point of view. You can print all the personalized information to present at your next planning meeting, or save as a PDF to share with colleagues.
A quadrant with next-step advice and more resources
Help with setting data priorities
Assessing two metrics—business need and potential impact—the quadrant graph helps you identify which projects deserve the highest priority. We’ve pre-loaded the questionnaire with nine typical projects to rank, and I’m pretty sure that if you’re considering all nine, you’re heading toward one of the best data infrastructures on the planet. But in case we’ve missed anything, there’s even the option at the end to add any new project types on your list that we have not covered.
With a single click, a quadrant graph pops up, and you can mouse over each ranked project for a link to detailed next steps and access to more resources, such as white papers, webinars, and workbooks. Save the whole thing as a PDF to keep in your files.
Everybody is looking to use data and analytics to increase business performance and increase their market differentiation. Prioritizing the projects that will have the greatest impact will help you to allocate resources for the maximum business impact. A powerful early success makes it easier to build support for subsequent projects, while a lackluster initiative that’s viewed as low-impact will slow, if not derail, your ongoing modernization effort.
The tool requires just eight minutes of your time, and the insights you draw from it could shape your analytics success for years to come. Click here to give it a try.