Too many businesses build their data and analytics capabilities in technology silos.
By Melanie Batley
Data and Analytics is essential for businesses trying to maintain a competitive advantage, but Gartner predicted that last year alone, 60 percent of big data projects would fail — by not being completed within budget or on schedule, or delivering the features and benefits promised. What’s worse, KPMG research has revealed that a majority business leaders do not trust their data and analytics.
The problem is that too many businesses build their data and analytics in technology silos. Others spread their D&A capabilities randomly across functions. The lack of structure limits the ability of D&A practitioners to establish the close business relationships necessary to build trust in their ability to deliver valuable insights and help drive informed business decisions.
So what’s the answer? KPMG believes that an organization’s structure is essential to the success of D&A. We have found that most companies that have success with D&A not only have highly skilled teams of IT and data scientists, but that those teams must be seamlessly integrated with people who really understand both the business challenges and the way the business works. The team also must have the complete support of executive leadership and along with goals that are fully aligned to the business strategy.
In other words, organizational design is at the heart of delivering a successful data and analytics program. At KPMG, we assist businesses in building the right organizational design into their D&A functions.
“The key to a successful D&A function is to enable specialized data science and engineering resources to be close to business problems and the leaders dealing with them,” said Traci Gusher, a principal in KPMG's Data & Analytics practice. “Effective D&A requires a methodical strategy and plan, aligned to business needs, supported with the right talent and leadership."
D&A projects falter when they are not supported by the right framework and talent, and ultimately not aligned to the business strategy. Successful D&A is not just about the technology. People and organizational structures are just as critical for its success.
To arrange an interview with Gusher, please contact Melanie Batley.
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