17 May, 2017
Data-Driven Success Rests On The Shoulders Of A Strong Executive Sponsor
In a recent KPMG report, CEOs indicated that data and analytics would be one of their top three investment priorities over the next three years. An Economist Intelligence Unit study showed 70% of US senior executives felt analytics would be either “very” or “extremely important” to their business’s competitive advantage. However, much of this expected value is yet to be realized—only 2% of respondents felt their analytics investments had already had a “broad, positive impact.” While CEOs place larger and larger bets on analytics and business intelligence (BI) tools, they may not realize how much of their data-driven success actually rests on the shoulders of a strong executive sponsor.
Introducing and embracing a new data-driven paradigm often requires difficult changes to mindsets, skills and behaviors. It can impact how your people form decisions, what expertise you look for in new hires, what information your teams share with each other, and even how your overall organization operates. Strong executive sponsorship is almost always needed to overcome the organizational inertia that may resist and derail a transformation effort to become more data-driven.