setting up for success with advanced analytics · 6/8/2017 · 5 4 build brilliant together ™...

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Setting up forSuccess with Advanced Analytics

JUNE 8, 2017

CONTACT: GARY FILAN – [email protected]

T4G, 340 KING ST E, TORONTO, ON

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Table of Contents Datastillhasaboringreputation.............................................................................................4

IntroducingDataStrategy........................................................................................................5

So,what’sitreallymean?...........................................................................................................................5

Definingstrategies,policies,standards,architectureandprocess.......................................................5

Enforcingcomplianceandconformanceto,architecture,standards,policies,andprocesses...........5

Resolvingdatarelatedissues.................................................................................................................5

BenefitsofaGoodDataStrategy.............................................................................................6

Deliverresults,ontimeandonbudget......................................................................................................6

Gainuseful,timely,actionableinsights......................................................................................................6

Realizerealreturnsonyourinvestment....................................................................................................6

BecomeaData-DrivenOrganization........................................................................................7

StartingYourTransformation...................................................................................................8

Howtostartthedatastrategyconversation.............................................................................................8

Aspectsofdatastewardship..................................................................................................................8

Tacticsandtechniques...........................................................................................................................8

AvoidingCommonMissteps&Issues....................................................................................10

Rework!Wrongornoanswers!...........................................................................................................10

“SoWhat?!?”........................................................................................................................................10

LackofConfidenceintheValueoftheProject....................................................................................10

HowtoGetItRighttheFirstTime..........................................................................................11

Pickingtherightentrypoint.....................................................................................................................11

Ourdeliverychecklist...............................................................................................................................13

Signsofsuccess.........................................................................................................................................13

WhattodoNow.....................................................................................................................14


Setting up for Success with Advanced Analytics

Good Data Strategy… It sounds lofty, bureaucratic, intimidating, complicated and downright boring! For some (okay, most) the phrase conjures images of a never-ending project to define a strategy that will provide no real business value. For others it is perceived as “a total waste of time, so why bother?”

But the reality is that you can’t do big data unless you get your data strategy right. Done right, a solid data strategy reflects and supports your corporate strategy.

This white paper explores what data strategy really is, its impact on your business, why some organizations don’t do it, and why some organizations who try, fail—and how to avoid their missteps.

Let’s get started!


Data still has a boring reputation. When we think data, we think endless rows and columns in multi-page spreadsheets filled with timestamps and dollar signs. For most of history, that’s all data did for business. Fororganizationsstartingontheiradvancedanalyticsjourney,thetendencyistojumprightinwithoutsomeduediligenceindatastrategy.Theprojectisoften“sold”onthevalueofdatascience,ormachinelearning,orprovingthetechnology–missingthecriticalprerequisiteofhavingasoliddatastrategy.Inthevastmajorityofthosecasesresultstendtobelessthanstellarandprojectsflounderorarecancelled.Thereissignificanteffortrequiredthatisofteneitheroverlookedasprojectplansaredeveloped,orisscheduled“afterthefact”,lateintheprojectbecauseitisperceivedaslowpriorityattheoutset.

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Introducing Data Strategy TheDataManagementBodyofKnowledge(DM-BOKtothoseintheknow)definesadatastrategyas:

“aplanformaintainingandimprovingdataquality,integrity,security,andaccess.Adatastrategymayalsoincludebusinessplanstouseinformationtocompetitiveadvantageandsupportenterprisegoals.Datastrategymustcomefromanunderstandingofthedataneedsinherentinthebusinessstrategies.Thesedataneedsdrivethedatastrategy.

Simplyput,itisdatamanagementthatcoversareassuchas:

• Definingstrategies,policies,standards,architectureandprocesses• Enforcingcomplianceandconformancetopolicies,standards,architectureandprocesses• Resolvingdatarelatedissues.”

Let’sgothroughthelistinabitmoredetail.

So, what’s it really mean?

Defining strategies, policies, standards, architecture and process

Thisiswhereyourdatastrategyconnectswithyourcorporatestrategy.Somehelpfulquestions:Howwillsuccessbemeasured?Whichdataareavailableforadvancedanalytics?Which(orwhichcombination)wouldbemosthelpful?Willanynewdataneedtobecollected?Ifso,how?

Enforcing compliance and conformance to architecture, standards, policies, and processes

Enforcementsoundslikeastrongword,butreallyit’saboutprocessesandsolutionsthathelpyouseamlesslyadheretolegal,corporate,andindividualrequirements.Itisalsoaboutunderstandingwhatdataassetsareavailableandwhobestunderstandsthatdata.

Resolving data related issues

Thedaysofintegratingdatainsightsintodaytodayprocessesanddecisionsisstillnew.Therewillbeedgecasesandunexpectedthingsthathappen,that’sfine.Thereneedstobeaclearlydefinedapproachtoidentifyandresolvedatarelatedissuesastheyarise.


Benefits of a Good Data Strategy Iftherightpeopleareengaged,therightprocessesarefollowedanddocumented,datastrategyhasthreeimmediatebenefits:

Deliver results, on time and on budget Byinvestingindatastrategyactivitiesearlytheriskoffindingnoanswers,badanswers,answersthathavenobusinessvalueoranswersthataren’tusefulisgreatlyreduced.Costlyreworkandwastedeffortareeliminatedbyensuringthebestquestionsarebeingaskedoftherightdatasets.

Gain useful, timely, actionable insights Becausedatapoliciesensurethatyourdataarecomingfromtherightplaces,accurateandaccessiblebytherightpeople,itgivestremendousinsightintohowyourbusinessisactuallyrunning.Theseinsightsopennewrealmsofstrategicpossibilitiesandopportunities.

Realize real returns on your investment Datastrategymakesitpossibleforyouranalyticsprojecttohaveareal,measurablereturnoninvestment.Withoutagooddatastrategy,projectsoftenrunintodelaysandunexpectedcosts.Startingfromaclearbaselineisthewaytoassureyourdataproject’ssuccess.


Become a Data-Driven Organization Mostfirmswanttoadvancetheiranalyticabilities.Theonlywaytodothiseffectivelyistounderstandexactlywhereyourfirmisalongitsanalyticsmaturityjourney.

Beyondtheimmediatelytangiblebenefits,doingdatastrategyrightrequiresyoutobringtogetherandgetbuy-infromeveryonetheprojectwillimpactanditforcesyoutounderstandexactlyhowmuch—orhowlittle—you’reusingdatatoinformyourdecisions.

Allofthisistosaythatbigdataisabigdeal.Youcan’tdoanalyticsunlessyougetyourdatastrategyright.


Starting Your Transformation Ifyou’resetonacceleratingyouradoptionofadvancedanalytics,thesinglemosteffectivethingyoucandoisstarttheconversationinyourorganization.

How to start the data strategy conversation We’veallbeentolddataisanasset–averyvaluableone–andweshouldtreatitassuch.Butwhatdoesthismean?Andwiththeexplosionofbigdataopportunities,areourassetsgrowingexponentially?Howdoyoustarttheconversationandgetcommitmenttomoveforwardwithanapproachfordefiningadatastrategytomanagethosedataassets?We’lldiscusskeyaspectsofdatastrategyanddatastewardshipandtacticsandtechniquestostarttheconversationinyourorganization–andkeepitgoing.Itisimportanttotakeapragmaticapproachinthisarea,makingsureeffortsare“right-sized”foryourorganizationandyourdatadrivendecisionmakingprogram.

Aspects of data stewardship

We’vealreadydefineddatastrategyandakeycomponentofthatstrategyisdatastewardship.

TheDM-BOKdescribesDataStewardshipas“theformalaccountabilityforbusinessresponsibilitiesensuringeffectivecontrolanduseofdataassets.Adatastewardisabusinessleaderand/orrecognizedsubjectmatterexpertdesignatedasaccountablefortheseresponsibilities”.

Thisallsoundsstraightforwardanddrivenbycommonsense,butformanyorganizations,mostaspectsare“assumedtobethere”versus“documented,wellunderstoodandadheredto”.Asoliddatastrategyrequiresaconsciouseffortandcommitmentfromalllevels.

Tactics and techniques

Nowthatyouunderstandwhatshouldbeinplace,howdoyougoaboutgettingthingsmovingforwardinyourorganization?

Take stock!

Howdoyouknowwhatyouaremanagingifyoudon’tknowwhatyouhave?Alltoooftenorganizationsdon’thaveasolidinventoryoftheirdataassets.Timeshouldbeinvestedinidentifyingthedatatheyhave,itspurpose,whotheprimaryusersandwhoarethe“experts”.

Otherdatarelatedassetsthatarekeybutoftenoverlookedareenterprisearchitectureassets–theactualprinciples,guidelinesandprocessesformanagingthedata.Aretheydocumented?AretheyagreeduponbybothBusinessandIT?Aretheyreviewedonaregularbasisandupdatedasrequired?

Afirststepshouldbegettingcommitmentfromseniorstakeholderstocompleteaninventoryofthoseassetsyouthinkmaybeofvalueforadvancedanalytics.Thiswillhelpyouidentifyanygapsinknowledge,artifactsandprocess.


Proper data strategy and data stewardship will help your organization better understand and manage one of your most valuable corporate assets. So, get the conversation started!

The more the merrier!

Puttingproperdatastrategyinplace,orbuildingonwhatisalreadythere,involvestheentireorganization.IfitistreatedasanIT-driveneffort,itwilltypicallyleadtofailurewithnobuy-infrombusinessrepresentativesandpooradoptionofprocesses,policiesandguidelines.Itiscrucialtobeginatthetoptobuildawareness,andtheimportanceofdatastrategyanddatastewardship.

Informationsharingsessionswithkeystakeholdersareagreatwaytostarttheconversation.Andstressingtheimportanceofacross-departmentalteamorcommitteetomoveitforwardwillpromoteproperrepresentationandmomentum.

Share your story – and tailor the message!

TakingalessonfromBusinessChangeManagement101,communicationiskey.Seniorstakeholdersneedtobeevangelistsincommunicatingthebigpicture.Messagesneedtobetargetedtovariousgroupsexplainingwhyitisimportanttothem,andtotheorganization.Whyareyouinvestingindatadrivendecisionmaking?Whatwillitmeanforthecompany?Andwhatwillitmeantome?

The hunt is on!

Thebestdatastewardsarethosewhounderstandthedatainsideout.Itisnotsomuchaboutappointingdatastewardswithinthedifferentareasoftheorganizationasitisidentifyingthosewhoarealreadydoingaspectsofitanddoingitwell.

Datastewardsarebusinessrepresentativeswhousethedataregularly,haveasolidunderstandingofitandcanreadilyunderstandwhatimpactsanychangestothedatawillhave.Withorwithoutaformaldatastewardshipprograminplace,theyareoutthere.Thesecrettosuccessisknowingwhotheyare.

Don’t get distracted!

Evenifyouhaveastrongdatastrategyinplace,it’sveryeasytoletaspectsofitsliporfallbythewaysideasthedelugeofbigdatastartstobeleveragedbyyourorganization-buttheneedfordatastrategyisnowmoreimportantthanever.Itismostimportanttoensureyourdataisgoverned“enough”foritspurpose.Incorporatebestpracticesandfocusonthosedataassetsthatwillhaveanimpactonyourdatastrategy.Ifyougetdistractedbytryingtodoitall,thereisarealdangerthatprocedureswillrelaxbecausethevolumeseemstoodaunting.Havingproperpoliciesandprocessesinplacewillhelpyoukeepahandleonwhatyouhaveandhowtoensureproperhandlingandaccess.


Avoiding Common Missteps & Issues Whilestartingwithafocusondatastrategyisthesinglebestthingyoucandoearlyoninananalyticsprojecttoassureitssuccess,thereareoftenstillsmallcomplicationsthatcropup.

Here are some of the most common—and how to deal with them:

Rework! Wrong or no answers!

Inmanycases,aprojectstartswithapre-determinedquestionbeingasked.Astheprojectmovesforward,problemssurfaceasdiscoveriesaremadeaboutthedata–thedataqualityisnotgood,additionaldataisrequired,ordifferentusersinterpretthedatadifferently.Thiscanleadtoexpensiverework,wronganswersornoanswersatall.

Closelyexaminethedatathatwillbeneededtoanswerthequestion.Isitcomplete?Aretherequalityissuesthatcannotbeaddressed?Ifso,youmayneedtorefocusandidentifynewquestions.

“So What?!?”

Someprojectsgetfarenoughthatquestionsareaskedandansweredsuccessfully.Butwithouttherightbusinesspeopleengaged,whenresultsaresharedwithbusinessusersasareal“insight”,theresponseisoftenlackluster.Statementslike

“That’sinteresting,butwhatwillwedowithit?”canquicklyderailprojects.

Havingbusinesssubjectmatterexperts(SMEs)involvedearlyandspendingtimetoclearlyunderstandtheirbusinessdriversandstrategieswillmakesurequestionsarerelevanttothebusinessandin-linewiththeirstrategies.

Lack of Confidence in the Value of the Project

Withoutfindinganswersthatcaneffectchange,questionsareraisedabouttheinvestmentintheproject.Ifcorrectiveactionisn’ttaken,thiscanresultinprojectsbeingstalledorcancelledoutright.

Advancedanalyticsisnotatechnologyfirstproblem.Bypayingattentiontobusinessdriversandstrategies,andbasingquestionsonthose,theprojectwillbefocusedonfindinganswersthatcanbeactionedtomakechangeforthebetter.


How to Get It Right the First Time So,youknowwhatDataStrategyisallabout.You’vegottheconversationgoinginyourorganization,now…howdoyougetstartedoffontherightfoot?

Picking the right entry point Inourexperiencetheinitialpushforadvancedanalyticscomesfromoneoffourentrypoints,asoutlinedbelow.Thetwo-by-twoframeworkisdefinedfirstbythepartofthebusinessinitiatingthework—eitherbusinessorIT.Wethendivideagainintoeitheratop-downdirective,whereyougeta“thoushaltdo”commandfromanexecutive,orabottom-up,grassroots,organictypeofbeginningwhereadepartmentorgroupidentifyaneedforthiskindofwork.


Basedonwhichentrypointyourprojectcomesfrom,oftencriticalstepsareoverlookedornotdeemedtobeimportant,andissues,likethoseabove,ariseasaresult.Oftenthesecriticalstepsaredatastrategy-relatedactivities.Inourexperience,theoverallspendovertimeforyouradvancedanalyticsprogramcanbemuchgreaterthannecessaryifthereisnotanearlyfocusonthosekeydatastrategyactivities.

We’lloutlinesomeofthekeycharacteristicsofeachoftheseandtacticstohelpyouavoidproblemsastheprojectprogresses:

THE FIELD OF DREAMS

TheseareBottom-UpITdrivenprojects.Theyoftenlacktherightpeopleasprojectresourcesandsometimeslackenoughseniorleadershiptogetgoing.Theseprojectsare,atleast,typicallymorefocusedonansweringasinglebusinessquestion.

Ifthisisyourprojectentrypoint,theprojectteammayneedtotalktoyourbusinesscounterpartstogarnertheirsupportandparticipationtobeabletofocusonactionableinsights.

THE SMART COMPETITOR

OurfavouriteentrypointisBottom-UpBusiness.Theseprojectsareusuallywell-focusedonactionableinsightgeneration,andtendtoveerofftrackonlyoncewellintotheproject,ifimportantcheck-insfalltothewayside.

EvenasaSmartCompetitor,itisimportanttoensureyourC-Suiteisengagedearlyandyoucheckbackwithbusinessdriversandstrategiesthroughouttheproject.

THE TECHNOLOGY DIRECTIVE

TheseprojectsareTop-DownITdirectives,andoftengetstartedfocusedsolelyontechnologyand“find”aproblemtosolve—likeahammerlookingfornails.Theseoftenendupgoingbacktothebeginningtore-assessdirectionwiththebusiness.

Ifyourecognizethisisyourprojectentrypoint,itiscriticalthatyouidentifytherightbusinesssubjectmatterexpertsandhavetheminvolvedasearlyaspossible.

THE AMBITIOUS EXECUTIVE

Top-DownBusiness.Theseprojectsusuallybenefitfromhavingtherightpeopleinvolvedfromthebeginning,withgoodstrategicalignmentwithbusinessdrivers.However,theyoftenforgettomakethe“insights”trulyactionabletothepeoplewhoneedtochangesomethinginthewaytheydotheirday-to-daywork.

Duringtheseprojects,itisimportanttovalidatethatthebusinessquestionsbeingaskedandansweredcanbeactionedtohaveaneffectinthebusiness.Ifnot,youmayneedtoreadjusttheproject,basedontheresultsofthevalidation.

Tosumup:thecloseryouaretotheentrypointsweprefer,themorelikelyyouaretohavetheprojectontrackfromthebeginning.Thesaddertheentrypoint,themorelikelyyouaretoencounterissuesleadingtodelays,rework…evenprojectsstallingorbeingcancelled.

Belowwehaveoutlinedourapproachforsuccessforadvancedanalytics.Makingsuretherightactivitiesareincludedinyourprojectstohelpyougetthemostvalueoutofyourdataassets.


Our delivery check list SettingupforSuccesswithAdvancedAnalyticsmeansmakingsurethatyou’vegottherightpeople,therightusecase,andtherightsolution.

Togiveyourprojectthebestoddsofsuccess,followthischecklist:

1. IdentifythebusinessSMEs–thosewhoknowthequestionstoaskandthevalueoftheanswers

2. HaveSMEsidentifybusinessdrivers&focusonthem

3. Identifycandidatebusinessquestionsusingthebusinessdriversasaguide

4. Prioritizethecandidatebusinessquestions

5. Identifydataneededtoanswerthequestions

6. Identifyandengagedatastewards–thosewhoknowthedatabest

7. Chooseyourprojectresources

8. Createadatadictionary–capturedefinitionstobuildacommonbusinessvocabulary

9. Checkbackwithstakeholdersagainstbusinessdrivers

Wecan’tstressenoughtheimportanceofthelaststep.Thisiscriticaltoensureyouarekeepingseniorstakeholdersengaged,theprojectisstillgoingintherightdirectionandeveryoneisonboard,ontaskandactivelypursuingactionableanswerstovaluablebusinessquestions.It’snotthelastactivitybutshouldbedonerepeatedlyoverthecourseoftheproject.

Signs of success Ifyoufollowthesteps,youshouldseesignsthatyouareonrighttrack:

§ Thecorrectbusinesspeopleareatthemeetingsandengaged

§ Projectfocusshiftsfromprovingthetechnologytosolvingtheproblem

§ Everyoneontheteamandthestakeholderscanarticulatethebusinessneedbeingmet

§ Thedatasetisclearlydefinedandthedatadictionaryisapprovedandmaintainedby

datastewards

§ Fewerdelaysandlessrework

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What to do Now

If you think of your own organization today, and if you are thinking of embarking on an advanced analytics project, ask yourself which area of your business should the project be focused? Who are the business SMEs? What data may be available? And who knows that data best?

If you are about to embark on an advanced analytics project, or are in the middle of one, what is your project entry point? Business/Bottom Up? IT / Top-Down? Are the activities we’ve outlined addressed in your project plan? Are the right resources identified and engaged?

Proper data strategy is critical to achieving success with advanced analytics. Our pragmatic approach to setting up for success with advanced analytics makes sure you have the key pieces in place.

setting up for success with advanced analytics · 6/8/2017 · 5 4 build brilliant together ™...

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