Key Takeaways from From Data to Insights: Exploring the Roadblocks in Analytics Projects and Strategies for Effective Implementation

Topic: Roadblocks in Data-Driven Organizations and Strategies for Overcoming Them

Introduction:

It is believed that many units within SCG have been driving their organizations to leverage data to enhance efficiency in operations and decision-making. However, it’s clear that roadblocks exist that prevent success.

From the session “Exploring the Roadblocks in Analytics Projects and Strategies for Effective Implementation,” Dr. Tha Viraprat, Managing Director of Skooldio, and the Data Analytics Accelerators team from the Corporate Innovation Office have identified key challenges as follows:

Common Roadblocks in Many Organizations:

1. Cultural Barriers: Organizational culture often does not support the use of data to aid work. This is a fundamental issue and challenging to address. Many individuals have concerns about data accuracy, reliability, and its practical utility. Some even rely on intuition rather than data for decision-making.
2. Data Management: Data management is often overlooked or misunderstood. Data can be scattered, unreliable, and time-consuming to collect, leading to ineffective data utilization.
3. Ineffective Dashboards: Creating dashboards that do not lead to actionable insights is a common problem. It’s essential to tell a compelling data story and ensure that dashboards are tailored to individual needs.

Strategies for Unlocking Analytics Roadblocks:

1. Changing Organizational Culture: To transform into a data-driven organization, it’s essential to demonstrate the value of data analytics through projects that deliver business value. Start by framing data analytics projects around real business problems or opportunities and verify if the necessary data is available.
2. Ensuring Data Readiness: Ensure that data is in a usable format, reliable, and readily accessible. This involves maintaining data quality, improving data accessibility, and enhancing data literacy within the organization.
3. Effective Storytelling: Dashboards should not be one-size-fits-all. They should address the “what,” “why,” and “how.” A well-balanced analysis includes numerical and textual elements, summarizes findings, and provides insights from both internal and external data sources.

In conclusion, building a data mindset and emphasizing the importance of data usage are crucial steps in unlocking roadblocks to data analytics. Data must be accessible and trustworthy. Additionally, creating meaningful dashboards that lead to actionable insights and connecting data-driven insights to business strategies are vital for success.

For further guidance, the Data Analytics Accelerators team offers consultation services in three areas: Business Consulting, Power BI & Technical, and Advanced Analytics. They also provide various training courses in the data space. More information can be found at https://dataspace.scg.com/course/