Create a Dynamic Data Analytics Strategy

During our Data Analytics Panel, we discussed leveraging data analytics to improve your operations. In this segment, Piyush Richhariya and Raj Krishnan share their thoughts on creating a cohesive data analytics strategy.

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Data Analytics Strategy Transcription

It is crucial to demonstrate the potential impact of data analytics projects or tools to earn stakeholder buy-in. You can achieve these goals through key metrics and how they will improve with the introduction of data analytics.

The key to getting stakeholder buy-in for data analytics projects or tools is to focus on the impact on the business and involve stakeholders in the process from the beginning. By demonstrating the potential benefits and keeping stakeholders informed, you can build support and ensure the project’s success.

It is essential to focus on the outcomes that matter to get stakeholders interested in data analytics. While they may not be interested in the technical details of how ML improves Power BI (Business Intelligence) or what platform to use, they care about data analytics’ impact on the business.

To build interest and buy-in, you must show stakeholders how data analytics can help them achieve their objectives and key results (OKRs) for the project. This requires understanding the stakeholder’s priorities and how data analytics can help them solve genuine business problems.

One practical approach is to start with a specific business problem or challenge the stakeholder faces and then show how data analytics can help solve that problem. This could be improved customer satisfaction, increased operational efficiency, or better decision-making.

Another approach is to provide examples of how data analytics has helped other businesses achieve their goals. This can help stakeholders see the potential benefits and get excited about what data analytics can do for their business.

Finally, involving stakeholders in the process from the beginning is important. This can help build interest and ownership in the project and ensure that the final solution meets their needs and expectations.

Final Thoughts

Data analytics is great for helping stakeholders leverage data analytics for their operations. If you have additional questions about how to use data analytics for your organization, schedule a free consultation with our team today.