10 Challenges to Advanced Analytics (PowerPoint PPTX Slide Deck)

DESCRIPTION

This product (10 Challenges to Advanced Analytics) is a 26-slide PPT PowerPoint presentation slide deck (PPTX), which you can download immediately upon purchase.

Our organization must become Analytics-driven. This is the call of the times. To be globally competitive, our company must have the capability to effectively use Advanced Analytics.

Despite big moves, Analytics pilots are not being converted into scalable solutions. There are 10 core challenges that any Analytics program encounters, which makes any Analytics-driven initiative a struggle. These challenges are:

1. No Coherent Vision
2. Poor Use Case
3. No Analytics Strategy
4. Poorly Defined Analytics Roles
5. No Analytics Translators
6. Isolated Analytics Capabilities
7. Expensive Data Cleansing Projects
8. Inappropriate Data Analytics Platform
9. No Business Case
10. Lack of Focus on Ethical and Regulatory Implications

This presentation discusses these 10 challenges in detail, as well as effective actions to take to remedy these situations.

This deck also includes slide templates for you to use in your own business presentations.

Identifying and addressing the 10 challenges to Advanced Analytics provides our company a second chance to get back on track. The presentation outlines a comprehensive action plan for each challenge, ensuring that your organization can overcome these hurdles and fully leverage the power of Advanced Analytics. From establishing a coherent vision to defining clear roles and responsibilities, this PPT serves as a strategic guide for transforming your analytics initiatives into scalable, impactful solutions.

Having no coherent vision on Advanced Analytics is a primary stumbling block. Without a clear understanding of the difference between traditional and advanced analytics, executives struggle to align their teams and resources effectively. The document provides actionable steps for the CEO, CAO, or CDO to lead workshops and coaching sessions, ensuring that the management team grasps the concept of Advanced Analytics and can drive the initiative forward.

The value that the initial use cases can deliver in the first year has not been determined. To address this, the presentation includes a feasibility matrix to prioritize analytics use cases based on their impact and feasibility. By analyzing the entire value chain from supplier to after-sales service, companies can pinpoint the highest value use cases and generate momentum for future analytics investments. This structured approach helps in making informed decisions that maximize the return on analytics investments.

Source: Best Practices in Digital Transformation, Analytics PowerPoint Slides: 10 Challenges to Advanced Analytics PowerPoint (PPTX) Presentation Slide Deck, LearnPPT Consulting

PPT SLIDE DEEP DIVES

Prioritizing Analytics Use Cases for Maximum Value

This PPT slide presents a structured approach to evaluating analytics use cases through a feasibility matrix. It emphasizes the importance of prioritizing these use cases based on their feasibility and potential impact. The content is divided into 2 main sections: a list of use cases and a prioritization matrix.

The first section outlines various analytics use cases relevant to a consumer-packaged goods company, categorized under Sales/Customer Relationship Management (CRM), Marketing, and Innovation. Each use case is numbered and includes specific examples such as overall brand management, targeted acquisition campaigns, and consumer insights. This structured listing serves as a foundation for further analysis.

The second section features a prioritization matrix that visually represents the relationship between feasibility and impact. The matrix is divided into quadrants, with the vertical axis indicating impact (from low to high) and the horizontal axis indicating feasibility (from low to high). Use cases are plotted within this matrix, allowing for a clear visual assessment of which initiatives are likely to deliver the most value based on their feasibility and impact.

The slide suggests that analytics use cases positioned in the high-impact and high-feasibility quadrant should be prioritized. This approach helps organizations focus their resources on initiatives that are not only achievable, but also likely to yield significant benefits. The overall message is clear: a systematic evaluation of analytics use cases is essential for generating value and ensuring that strategic decisions are data-driven and aligned with organizational goals.

Strategic Imperative: Developing an Analytics Framework

This PPT slide addresses the critical issue of lacking a dedicated analytics strategy within a company. It outlines how this absence restricts the organization to a limited number of use cases, thereby constraining its potential to derive significant value from analytics. The text suggests that while the company may have identified various opportunities where analytics could be beneficial, without a formal strategy in place, the ability to capitalize on these opportunities is severely hampered.

The slide emphasizes that establishing an analytics strategy is essential for unlocking greater potential. It argues that a well-defined strategy not only enhances the company's capacity to leverage analytics, but also empowers employees to envision and pursue transformational opportunities. The message is clear: without a strategic framework, the company risks missing out on valuable insights and advancements that could drive growth and innovation.

The action plan section presents 3 pivotal questions that the Chief Data Officer (CDO) or Chief Analytics Officer (CAO) should pose to business leaders. These questions focus on understanding the threats posed by emerging technologies like AI and advanced analytics, identifying opportunities to enhance existing operations, and exploring how data and analytics can be utilized to create new avenues for growth. This structured approach aims to guide leadership in developing a robust analytics strategy that aligns with the company's broader objectives.

Overall, the slide serves as a call to action for organizations to prioritize the development of an analytics strategy, highlighting its importance in navigating the complexities of modern business environments.

Establishing a Business Case for Analytics Investments

This PPT slide addresses a critical challenge faced by organizations investing in Advanced Analytics: the inability to establish a clear business case for these investments. It highlights that despite significant financial commitments, companies struggle to link analytics initiatives directly to measurable impacts on their bottom line.

The description section outlines the current predicament, emphasizing that many organizations are pouring millions into analytics without a clear understanding of the returns. To combat this, companies are advised to implement a Performance Management framework tailored for analytics. This framework involves developing specific metrics that can effectively track the performance of analytics initiatives. By aligning these metrics, organizations can make informed decisions to reallocate resources from less effective projects to those that demonstrate tangible value.

The action plan section provides a structured approach to overcoming this challenge. It suggests that business leaders, in collaboration with data translators, should take the lead in identifying specific use cases that can yield measurable benefits. Furthermore, it stresses the importance of assessing the financial impact of these use cases on an annual basis. This ongoing evaluation will help ensure that analytics investments are justified and aligned with organizational goals. Finance departments are encouraged to play a pivotal role in this process, helping to establish appropriate metrics and serving as an independent evaluator of the performance of various use cases.

Overall, the slide serves as a guide for organizations looking to enhance the effectiveness of their analytics initiatives by establishing a clearer connection between investment and value realization.

Strategic Prioritization of Analytics Use Cases

This PPT slide addresses a significant challenge faced by organizations in implementing analytics effectively. It highlights the issue of indiscriminate application of analytics tools and methods across various departments. This lack of precision can lead to substantial waste of resources, delayed outcomes, and diminished confidence among shareholders regarding the potential value of analytics initiatives.

The description section emphasizes that without a focused approach, companies risk misallocating their efforts and investments in analytics. The result is often a slower realization of benefits, which can undermine stakeholder trust and support for future analytics projects.

The action plan proposes a strategic approach to mitigate these risks. It suggests that during the initial scaling phase, companies should identify and prioritize 3 to 5 feasible use cases that promise to deliver the most value within the first year. This targeted strategy aims to generate momentum and foster buy-in for subsequent analytics investments.

Furthermore, the action plan recommends a comprehensive analysis of the entire value chain, from suppliers to after-sales service. This holistic view can help pinpoint the highest value use cases, ensuring that analytics efforts are aligned with the organization's broader objectives.

Overall, the slide serves as a call to action for executives to adopt a more disciplined and strategic approach to analytics, ensuring that initial efforts yield tangible results and build a foundation for future success.

Defining Analytics Roles for Organizational Success

This PPT slide presents a framework for understanding the various roles and responsibilities associated with analytics within organizations. It emphasizes the necessity of having a diverse set of analytics talents, each with clearly defined roles that span business, technology, and analytics skills.

At the center of the slide, a Venn diagram illustrates the intersection of these 3 skill areas. The "Business Skills" segment includes roles such as business leaders and delivery managers, who are responsible for leading analytics transformation and ensuring the quality of data flows. The "Technology Skills" section highlights data engineers and architects, who focus on the collection, structuring, and analysis of data.

The "Analytics Skills" area features roles like data scientists, analytics translators, and visualization analysts. These professionals are tasked with developing statistical models, ensuring analytics address critical business problems, and visualizing data through reports and dashboards. The slide also mentions workflow integrators, who play a role in building interactive decision-support tools.

The overall message stresses that every analytics resource must have a well-defined role to effectively contribute to creating value. This structured approach to analytics roles can lead to a more dynamic business ecosystem, enhancing the organization's ability to leverage data-driven insights. For potential customers, this framework provides a clear understanding of how to align analytics capabilities with business objectives, ensuring that analytics initiatives are not only effective, but also sustainable.

Establishing a Clear Vision for Advanced Analytics

This PPT slide addresses a significant challenge faced by organizations regarding their Advanced Analytics programs, specifically the lack of a coherent vision. It begins by outlining that many companies struggle to articulate a clear direction for their analytics initiatives. This confusion primarily stems from executives not fully understanding the distinction between Traditional Analytics and Advanced Analytics. Traditional Analytics is described as focusing on business intelligence and reporting, while Advanced Analytics encompasses more sophisticated predictive and prescriptive techniques, including Machine Learning.

The slide highlights several red flags indicating this lack of vision. Companies may have initiated various AI pilot programs,, but these efforts often fail to scale due to management's inadequate grasp of Advanced Analytics concepts. Furthermore, there is a struggle within organizations to identify valuable problems for analytics teams to tackle. A notable point is the failure to invest in the necessary skills, which hampers the analytics team's effectiveness. Consequently, these teams may not address the right challenges or utilize the latest tools available.

To remedy this situation, the slide proposes an action plan. It suggests that key executives, including the CEO and Chief Data Officer, should organize workshops aimed at educating the executive team on the principles of Advanced Analytics. These workshops are intended to clarify misconceptions and align the leadership's understanding, ultimately fostering a more coherent vision for analytics initiatives. The slide concludes by indicating that these workshops can also help establish an in-house Analytics Center of Excellence, promoting ongoing education and best practices across the organization.