Business Analytics Strategy

Business analytics uses advanced analytics technologies to analyze text and structured data to deliver better business insights that improve decision making and achieve better business outcomes, faster. It can deliver value in a number of areas across the business — increasing revenue, improving customer satisfaction, reducing costs and better managing risk.

enherent’s business analytics strategy services offering helps your organization identify one or more business outcomes, understand affected applications and potential scenarios, and develop a plan for design and implementation. Since business analytics comprise a number of methods and technologies, enherent has developed the Polaris™ Framework, a portfolio approach to optimize business outcome(s), as depicted in the diagram below.  

• Work with each team to ensure key strategic content is developed
• Facilitate workshop sessions as appropriate
• Integrate and rationalize content across teams
• Capture resulting content in a strategic plan

• Vision – enherent and client come together to formulate a common understanding of the business analytics vision
• Scope – the scope of the business analytics effort is defined
• Goals and objectives – the goals and objectives for the program are documented
• Stakeholders – identified and linked to the initiative(s)
• Internal analysis and a current state profile
• Review of industry best practices and identification of gaps
• Desired future state
• Scenario analysis and documented possible strategic scenarios
• Risk analysis and recomended best scenario(s)
• Initiative matrix – high priority initiatives developed from the recomended scenario(s)
• Prioritized initiatives – by business value, complexity, organizational readiness, and time-to-market
• Critical success factors – identified and linked
  
• High Level Program Plan – to align people, process, and technology

Business Analytics White Paper