Accenture offering some useful advice on Big Data analytics (that does not include spend a load of money)
Mo Data stashed this in Data Strategy
As we have spent time with clients cross-industry and geography over the past number of months, we increasingly get asked about the RoI on Analytics, whether it is in a specific functional area (e.g. Marketing, Risk, Finance) or across a business or enterprise. Most people get the fact that Analytics is of value and that more informed fact-based decision making would be a good thing but they are challenged with how to get there especially with legacy infrastructures, silos of talent and an ever more volatile business environment where many of the capability projects need to have quick payback periods.
Given the increased pace of innovation around Big Data and Analytics, Accenture’s approach to help clients along this journey is characterized by the following themes
1. Agile in Discovery
Target high value areas with proven industry knowledge of how analytics can drive value
Prioritize areas where the data is adequate, business owners have a vested interest and value can be proven quickly.
Take a Proof of Concept based approach to proving the capability.
2 Industrialized in Execution
Move from concept to proven capability to industrialization of solutions.
Scale across the business in a way that will drive value fastest – these should be self-funding within the first 12 months.
3. Sustaining the Changes
Focus on “the last mile”, i.e. the consumption layer for how insights are presented in a role-based context to decision makers and acted upon to drive outcomes.
Build on the momentum of successes - Don’t be afraid to fail early – learn as you go!
Beware of unintended consequences – anticipate, address, adjust.
Stashed in: Big Data