We have worked for and consulted with many of the fortune-500 companies across the world.. Some of us have worked on the other side of the table with CIOs – trying to choose the best consulting company to work with us on analytics initiatives.
In our experience, most organizations do not have the Integrated Business-Information-Technology Backbone necessary to generate ‘Clean-relevant’ data to generate ‘Timely-Actionable-insights’.
While there are no questions about how an investment into ‘analytics’ could work wonders into enhancing business performance of a company, it is still an enigma as to what constitutes ‘a right investment’.
While there are a god’s-chosen-few companies get it right , most seem to get very little out of their analytics and big-data investments..Gartner mentions only one in sixteen analytics initiatives can be described as a success as of now.
Reasons? Primarily two –
- Data Architecture – Data is stored in isolated silos. Companies often find that they are swimming in data but do not exactly what they need.
- Leap from Data to Actionable Insights – Data need to be cajoled to tell a story. This is possible by amalgamation of abilities in mathematics, IT and business. Very few Analytics companies have been able to do that.
Data-by-Choice intends to bridge this gap
Data by Choice is promoted by very senior professionals from IITs, IIMs, and other renowned Global Universities. with decades of experience setting-up and scaling businesses, Consulting the Fortune-500 companies, and working with Technology Firms.
In our experience
- Most organizations (barring internet companies like Amazon and a fortunate-few well-run brick-and-mortar-companies) have islands of disconnected offline IT applications in different locations that never ever talk to each other.
- They also seldom have ‘common data standards, or standard data definitions’ (like for example a global unified chart of accounts) , nor do they have necessary ‘granularity’ for drill-down or the necessary depth (by geography, by product or sub-product).
- Most data also lacks consistency as organizations seldom have global standard processes (like for example GSOPs in pharma companies.
Simply put, they do not have the Integrated Business-Information-Technology Backbone necessary to generate ‘Relevant-Contextual-Normalized’ data to generate ‘Timely-Actionable-insights’.
Gartner estimates only one in twelve Analytics initiatives is successful, while the rest fail to deliver value.. A failed IT initiative is every CIO’s nightmare, as they would never be able to win their internal customers’ trust back – once they lose it.
- Few Analytics initiatives specifically look at Enhanced Business Performance as a key outcome, and even fewer companies actually measure the metric ….before and After the intervention.
- We have noticed, way too often the Analytics initiatives get conceptualized far far away from business reality and requirements, by Consulting companies which have no understanding of domain, and as a result poorly address the business problems, and not surprisingly have very poor acceptability amongst Business Users.
- We have also seen, Lion’s share of your IT budgets being allocated to resolving the same business problem, year after year, and Solutions built at enormous cost and efforts, being scrapped before they deliver business value, year after year.
Data-by-Choice is born from the belief that, every analytics solution ever conceptualized needs to have a core purpose – To enhance the Business Performance of the Enterprise. And what more, we intend to measure it and charge only for the Value Delivered.