When we talk about insights, it’s often done in the context of BI and analytics success. But there’s also this notion of operationalizing those insights. What does it all mean?
While insights provide important facts, they rarely offer guidance about how to turn those facts into action. A recommended BI and analytics strategy is one that empowers your end users not only with insights and the promise of opportunities, but actionable insights and the guarantee of results.
...numerous studies show that the closer you come to instituting a systematic sharing of insights at the operational level, the more value and return your organization will receive as a result of your BI and analytics investment.
Imagine a data scientist sitting at their desk, discovering a valuable insight. How is that insight shared or operationalized with the rest of the organization? How is that insight turned into action? Unfortunately, when analytics is implemented, operationalization is typically not considered – it stops at the discovery phase.
This is one of the reasons why adoption rates remain low.
An operationalization mindset requires you to make insights available to all stakeholders and decision-makers, not just your analysts and power users. Your executives and management team, you non-technical employees, as well as your partners and customers, all need to participate. This wider use of analytics expedites movement from purely analysis to meaningful action to tangible impact. In fact, numerous studies show that the closer you come to instituting a systematic sharing of insights at the operational level, the more value and return your organization will receive as a result of your BI and analytics investment.
A powerful way to operationalize insight is by embedding BI and analytics into familiar business applications and processes. When data is available within the systems and processes that stakeholders use on a daily basis, insights become an inherent part of operational activities. They can be viewed in the context of their usual workflow and linked immediately to action.
Our partner, Rosnet, successfully operationalized insights to more than 100 restaurant chains and 20,000 users by embedding our BI & analytic capabilities into an existing application. Now their restaurant customers enjoy easy access to metrics on operational efficiency and profitability. Per their CEO, this has not only enhanced their customer experience, but has also streamlined business processes for their company for real business impact.