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Advanced Analytics Centers of Excellence
Introduction
To maximize the ROI of Advanced Analytics (AA) the enterprise must design and deploy an organizational structure that supports its mission.
As companies recognize the predictive power of advanced analytics, many are hoping to use AA to drive business decisions and strategies. Many of my clients have made AA a key component of their digital transformations.
While most companies understand the importance of analytics and have adopted best practices, fewer than 20 percent, according to a recent Forrester survey, maximize the potential and achieved AA at scale.
Because of this, most companies are frustrated as they see their efforts not meeting their goals and objective and watch as more mature, analytically driven companies leverage their enterprise data. The democratization of data has suddenly blurred sector boundaries and because of this, businesses will find themselves disrupted not by the competitor that they have been monitoring, but by an unknown upstart from another industry. Industry leadership is no longer enough; companies must aim to be at par (or better) across industries to compete effectively and ensure survival. Functional expertise, beyond specific business sector expertise, will become more and more vital. I believe that AA performance is achievable only by developing…
