As we’ve mentioned recently, within each enterprise there are different classes of analytics users, each with its own set of needs and objectives. And the diversity of roles within the organization ultimately results in different requirements for using analytics.
So while a simple dashboard approach may appeal to senior executives who are interested in receiving timely updates on key performance indicators, line of business and other functional leaders typically require more robust analytics capabilities .
In our last installment, we featured Brian, a business champion for a fictitious company named Zodiak Industries.
In this chapter, we feature Michelle, a management budget owner for a “big box” home improvements retailer, who has been charged by the CEO to reclaim five to eight points of market share from global competitors within 18 months.
Michelle is an MBA grad who is generally liked and respected but who is viewed within the organization as a shark.
A long-time company veteran who owns P&L (profit and loss) for the retailer’s appliances division, Michelle reports to the COO. She’s a forward-looking thinker who sees, understands, and defines the big picture for her group.
A voracious reader of serious business publications, Michelle recognizes that there are tremendous opportunities for using big data analytics to identify opportunities for capitalizing on market opportunities.
She’s asked one of her most trusted associates to research ways in which big data and analytics can be used to discover new revenue vehicles along with gaps in rivals’ strategies that could lead to competitive advantage.
Michelle has specific needs for using analytics. She’s more concerned about missing growth opportunities than she is about costs – although costs remain a key concern for Michelle as a management budget owner.
Michelle also recognizes that the company has to become data driven to remain competitive and to enable business leaders to make critical decisions based on facts in real-time.
Nonetheless, she questions the company’s current capacity for absorbing and acting quickly on market and customer information.
Michelle is willing to move mountains to meet her goals, but she realizes that she and her division face significant obstacles. For starters, she wants the divisional departments she oversees (kitchen, laundry, outdoor) to work together in an integrated fashion so the group can achieve its shared goals.
She also realizes that it’s essential for the organization to integrate its longstanding data silos so that decision makers are able to apply analytics tools against the full spectrum of customer and market data that’s available to make the most informed choices.
Suitable predictive analytics tools can help Michelle and her team gain a deeper understanding of the customer and market trends that are developing ahead of its competitors. Then they can act quickly on insights to regain market share and identify potential sources of new revenue that they can use to carve out new market opportunities.
The right set of predictive analytics tools can help Michelle and her team identify the most effective approaches for moving the needle and achieving the goals that are laid out before them.
Michelle needs an analytics platform that can help her see the big picture and also give her associates the tools they need to drill down on specific market shifts and customer needs.
In our next installment, we’ll explore the analytical needs of Tom, an IT influencer, who wants to provide senior management the data and tools they need to make the best possible decisions.