Re-Engineering Decision-Making
Written by Bart Moens, Nicolas Gomez, & Quentin Verheyden
21 June, 2023
Cognizant and CIONET partnered together to map out the maturity of analytics adoption in Belgian companies: is its importance acknowledged, is the necessary infrastructure and culture present and what is the role of the CIO in all of this?
By exploring these areas, this study aims to provide CIOs and CDOs with actionable insights and practical recommendations that empower organisations to thrive in the analytics-driven era.
This study was conducted using in-depth interviews with a sample of the CIONET Belgium community.
Below you can find the executive summary of this study. The full report can be downloaded here.
Executive Summary
In today’s data-driven world, organisations must embrace analytics to unlock unprecedented value and gain a competitive edge. This study explores the adoption of analytics and its implications for delivering business value. It sheds light on the vital role of the CIO and/or CDO, the challenges they face, and the shift from technology-centric to business-centric approaches. By extracting actionable insights from analytics, organisations can make informed decisions and drive strategic planning.
Our study defines analytics as the extraction of actionable information from data, enabling informed decisions and strategic planning. With the right analytics techniques, organisations can uncover patterns and trends that lead to valuable insights and success.
Through our research, we have identified five key findings:
1. The Paramount Role of the CIO: The CIO plays a crucial role in driving analytics adoption and adapting to new ways of working. They clarify the future state, foster collaboration, and serve as catalysts for transformative change.
2. Prioritising Business Value: By prioritising business value over technological enhancements, organisations can achieve heightened efficiency and reap abundant gains. Cross-functional teams, with expertise spanning AI, IT, and subject matter, are key to delivering use cases effectively and achieving success.
3. The Analytics-Driven Culture: Establishing an analytics-driven culture, where technology and human potential converge, unlocks the true value hidden within analytics. This convergence leads to superior results, benefiting customers, shareholders, and employees. Clear guidelines are essential to ensure flexibility and harmony within the organisation.
4. Maximising Analytics Capabilities: To maximise analytics capabilities, organisations must consider four streams: establishing a common analytics infrastructure, attaining governance autonomy, maintaining data quality, and promoting the value embedded within the data. By embracing the idea that data quality is a means to an end, organisations can drive organic growth in analytics-driven decision-making.
5. Embracing a New Way of Working: Embracing collaborative analytics and informed decision-making becomes imperative for organisations seeking to unlock the untapped potential of their data. This seismic shift requires cultural transformation, relentless stakeholder engagement, and the recognition that reengineering decision-making is essential in the face of complexity.
In conclusion, organisations must embrace the power of analytics adoption to thrive in the data-driven era. By aligning strategies with the findings of this study, organisations can unleash the untapped potential within their analytics and drive successful transformation. Let’s embark on this journey, leveraging good enough, intensifying enthusiasm, and combining human and artificial intelligence to achieve actionable insights. Let’s create a data-driven revolution that reshapes the future of our organisations and propels us to unparalleled growth and success.
