Today’s BI and analytical solutions have become relevant to different user types and persons. More often than not, however, the success of BI implementation depends on the executive team. A recent Aberdeen report explores the effect of senior management support for analytical initiatives.
Background – The Strategic Importance of Data
The management and exploitation of business data is no longer relevant to only those tasked with Sarbanes-Oxley compliance. Timely data-driven insights can uncover opportunities for greater operational efficiency, and more organisations are weaving analytics into the long-term strategy in an effort to stay competitive. Aberdeen Group’s report, The Analytical Executive: Getting Their Hands Dirty with Data shows some of the benefits of analytics done right.
These days more senior managers are getting involved not only in analytics usage but in the buying process too – see Aberdeen’s CiTDs (Computer Intelligence Technology Data Set) data. Figure 1 below shows that excluding IT roles, those needing a budget for BI are typically senior leaders.
Analytics is applicable to a wide variety of business functions and HR managers, sales executives and marketing leaders want to be involved in the analytical process from the very beginning.
Not Just a Stamp of Approval
It’s one thing to have senior management sign off on the deployment of BI, but another to have an executive leading the charge for its successful implementation and usage. Aberdeen’s research shows how companies reporting an executive champion for analytics enjoyed this raised level of pervasiveness (Figure 2).
Having the support of a senior executive holds the potential to improve many aspects of the analytical activity decision process. More widespread use of analytics helps promote greater collaboration across functions, helps enrich the data used in analyses and lead to a greater level of trust in the data environment (Figure 3).
With a foundation of richer and more trustworthy data in place, companies are then in a position to accelerate decision-making and respond to the needs of its customers.
Companies that leverage senior management as an engine to drive successful implementation and ongoing analytics usage are seeing results for its efforts. The three key findings are as follows:
- The technology decision maker is evolving – As different stakeholders from marketing, sales, finance and HR raise their hands for better decision support, leaders in those areas are stepping up to drive the decision.
- Top managers are players, not just spectators
- Executive support drives performance
Aberdeen Group has been an international research partner of Nebula since 2010. With thousands of research documents, growing daily, Aberdeen’s research library helps enterprises and service providers discover the priorities and strategies of best-in-class enterprises.
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