Discover a structured approach to harnessing data analytics, addressing common pain points, and driving strategic value for your division.

While leveraging data analytics is essential for divisions aiming to drive value and achieve their objectives to enable their companies to stay competitive, many encounter significant challenges when trying to harness the power of data within their organisations.

The Challenge

Drawing from my extensive experience and the research insights in my upcoming book, “Accelerate Your Data Value Confidently,” I have pinpointed several common pain points that divisional leaders face when attempting to kick off a value-driving data analytics journey:

  • Disconnected Analytics: Many divisions struggle to link their data analytics efforts to tangible business value, resulting in challenges with obtaining funding for the journey and missed growth opportunities.
  • Tech Anxiety: The rapid pace of technological advancements can be overwhelming. Divisional leaders often feel pressured to keep up with new tools and methodologies, leading to anxiety and hesitation about fully embracing data initiatives.
  • Lacking Direction: Without a clear strategy or roadmap, divisional leaders can feel lost. Uncertainty about the next steps can stall progress and diminish the potential benefits of data analytics.
  • Feeling Disoriented: The complexity of data analytics can leave teams feeling disoriented. Navigating vast amounts of data without proper guidance can be daunting, leading to frustration and inefficiency.
  • Lack of Support from Shared Services: Insufficient support from shared services like IT or centralised data teams can hinder the successful implementation of data analytics projects.

The Payoff

Understanding these pain points is crucial for addressing them effectively and paving the way for a successful data analytics journey for your division. Here are the benefits you can realise when following a proven approach:

  • Value-Driven Analytics: With a clear strategy, every data analytics initiative aligns with generating real business value. Focusing on value-driven analytics unlocks your data’s full potential, driving significant efficiency and effectiveness improvements.
  • Strategic Advantage: A well-implemented data analytics strategy provides a competitive edge. Divisions can make informed decisions, anticipate market trends, and respond swiftly to changes, enabling their companies to lead in their industry.
  • Confident Leadership: Expert support will empower divisional leaders to navigate their data journey with confidence. Our methodologies and frameworks provide the approaches needed for successful data initiatives, fostering a culture of data value realisation.

Realising these benefits translates to improved financial results through data analytics, enabling divisions to meet and exceed their objectives.

How It Works

Embarking on this journey involves a structured approach:

  1. Readiness of the Division: Identifying sufficient value-generating opportunities that justify a divisional data analytics journey.
  2. Executive Sponsorship: Securing backing from a group-level executive to champion your division’s data analytics journey.
  3. Results: Producing an evidence-based view of potential results, which may include market research, competitor analysis, cost analysis, or proof of value, to demonstrate potential value and build excitement with decision-makers.
  4. Strategic Roadmap: Developing a phased roadmap, outlining tools, frameworks, methodologies, and personnel needed for success.
  5. ROI Model: Building a robust ROI model to support your business case.

I have experienced first-hand how effective this approach can be. A few years ago, we worked with the marketing division of the world’s largest FMCG company. With 70,000 employees and $100 billion in global revenue, it goes without saying that this is a complex business environment. They benefited significantly from our expertise, frameworks, and methodologies that simplified complex challenges.

We enhanced their ability to analyse critical sales data their retail chain customers provided, leading to better-informed decisions on marketing initiatives. This improved their demand forecasting, optimising supply decisions, driving revenue growth, and reducing stock shortages and inventory losses. We also helped them navigate their corporate shared services environment, enabling them to deliver strategically aligned solutions that accelerated value and achieved divisional objectives.

Divisional leaders who embrace this approach can expect significant improvements in how their teams handle data, make decisions, and drive value.

Want to find out how you can grow your revenue by using data?

Accelerate Your Data Value Confidently is a book for CEOs and business leaders that want to accelerate their business growth by using data as a value driver. Sign up to be the first to read it.

Written by Karl Dinkelmann CA(SA). Karl is the CEO of Nexus Data, and a visionary leader in business and data analytics strategy. With nearly two decades of experience, Karl has spearheaded transformative initiatives for global organisations, including Nestle, AIG, Dimension Data and several others. His consulting work has led to clients generating multiple millions of dollars in value, and the establishment of class-leading data functions. Karl’s strategic vision empowers organisations to unlock accelerated
business value from their data.