Not so long ago, analytics was the domain of data scientists and statisticians who guarded the enterprise from the complexities of all data-related things.
Today, analytics touches every corner of the business, and all the business of the corner office.
C-suite executives might not be conducting deep-dive statistical analyses – nor do they have to. Innovations in predictive analytics capabilities and visualisation tools help executives to peer inside structured and unstructured data and to unearth outcome-altering insights. C-suite executives have gotten their hands on analytics and aren’t about to let go.
So what exactly is leadership doing with analytics today? Here’s a rundown from the Corner Office Analytics article:
* CEOs are getting comfortable with analytics and expect the same of their direct reports
* Moving beyond standard financial reports, CFOs are looking to analytics to help them provide their corner-office peers with new insights
* In their evolving role, CIOs are increasingly focused on building interconnected analytics ecosystems that make more efficient use of data-focused resources
* Social, mobile and unstructured information, combined with historical and transactional customer data, gives CMOs a unique opportunity to uncover new value and opportunity
* With a wealth of workforce data at their fingertips, CHROs are moving beyond traditional reports to predictive powers that inform decisions about human capital
* Looking to analytics to dissect large data sets quickly, CLOs and General Counsel depend on the high-value, defensible information that analytics delivers
* Tax analytics helps today’s tax director to comply with increasingly complex requirements while executing tax plans and processes effectively
To avoid getting stuck in analysis paralysis, leadership needs the information required to make informed, proactive decisions. Many senior leaders aren’t relying solely on IT and data scientists for that information anymore. They are hands-on, asking for and gaining access to the power of analytics and seeing for themselves the myriad possibilities in their data.