The Future of Data & Analytics: Reengineering Decision Making & Adapting for Change PT. III
By Daria Chadwick | Part III of III
In Part I of this series, we explored some of the major challenges organizations currently face around becoming more agile and data-driven in 2022. In Part II, we took a closer look at what the experts recommend given these challenges, and what today’s data & analytics capabilities should look like based on these recommendations. In this article, Part III, we explain how leaders can use these new standards of data & analytics to infuse their D&A capabilities into their businesses value streams.
"Decision Intelligence is paramount in a modern data strategy. Modern data strategies are incomplete without robust analytics capabilities that produce timely, proactive, and granular insights. Leaders and their teams today need more than cold hard facts and figures: they need context, real-time intelligence, and capabilities that draw out the “why”, “what” and “how” behind what’s happening. Most importantly, they need these capabilities packaged up in a way that allows all business stakeholders to take advantage." - Ajay Khanna
In this article, we’ll be taking a closer look at how a suite of decision intelligence capabilities can help support real-life scenarios. For the examples used, we'll be maintaining a timely focus on change, but viewing it through the lens of value streams and delivery.
Value streams provide a consistent view and strategy across the organization to better align internal capabilities with business processes. They focus on building cross-functional alignment and collaboration across the organization to optimize business value creation.
By exploiting value stream management within data & analytics, data and its supporting technologies can follow these same alignments. Leaders are empowered to act faster and more decisively with accurate data at their fingertips that is tailor-made for their business processes. Teams can more easily identify key pieces of information like how, who and what is needed to align processes and work streams.
The ability to meticulously map and build out value streams is preferable. But for certain areas, like the supply chain, the time to meticulously plan is not always available.
Managing Supply Chain Complexity
With the introduction of new regulations or with sudden geo-political conflict, a value stream that once generated a great deal can become outdated and unusable overnight. On a whim, leaders can be faced with potential losses, suddenly faced with an entirely new set of how, who, what, when, and why.
See how effectively leaders can respond to change when data & analytics capabilities are aligned to value streams:
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