There is a growing trend to over- emphasize on the importance of data analytics. A lot of corporate leaders nowadays, instead of taking decisions themselves, like to leave it all to this data- backed business analytics. This is wrong, as instead the analytics must aid business. Too much of time now gets wasted on methodologies, rather than the actual work. First of all data needs to be purpose driven. To get the best out of the data warehousing done, the right questions need to be framed right at the start. One needs to take a strategic look at the bigger picture. But at the same time, intricate details cannot be missed out. Taboos cannot be completely driven out. So, the top team needs to embrace them, and work around their limitations. Once the minute details are out through analysis, the top management needs to connect the dots, to understand the bigger context. Besides merely focusing on the outputs and productivity, one has to concentrate on action. Crucially, the team built for this purpose, too needs to be multi- skilled.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/making-data-analytics-work-for-you-instead-of-the-other-way-around

Uploaded Date:26 June 2019