My th s of A n a ly t i c s
key to effective decision-making. The
other two-thirds either go exclusively
with their gut or trust analysis over judgment. The study highlights the challenge that even sound insights can have
in driving good decision-making due to
broader organizational issues. According to an accompanying article in the
Harvard Business Review, “At this very
moment, there’s an odds-on chance that
someone in your organization is making
a poor decision on the basis of information that was enormously expensive to
collect.” (Read more.)
Takeaway: Quality output is only half
the battle when it comes to impactful analytics and insights. The other half of the
battle lies in an organization’s ability to
take action effectively.
10. Great insights sell
themselves
You conducted a momentous research project or developed a groundbreaking business intelligence system.
Why wouldn’t your work attract fans and
lead to positive change? Industry track
records, however, suggest most projects fail to accomplish their goals. (Read
more.) Poor problem definition and operational snafus are common challenges.
But even projects with clearly defined
objectives and smooth implementation can fall short of expectations in the
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absence of effective communication and
stakeholder engagement.
According to the Project Management Institute, among organizations
considered highly effective communicators, 80 percent of projects meet original goals vs. only 52 percent at their
minimally effective counterparts. (Read
more.)
Takeaway: Projects without a wellcrafted stakeholder engagement and
communication plan will likely have little
chance of success from the get-go.
New data sources and diag