The Insights Driven Organization puts data and analytics front and center in its business strategy and throughout all echelons, whereby every decision is based on insights derived from data and models. At BearingPoint we believe that this big challenge should be tackled with small steps, starting with a pragmatic value driven approach in a specific department or team and expanding outwards towards that visionary enterprise you are dreaming of.
Being insights driven opens a whole new world of opportunities for organizations to thrive, by creating value through improvements on products/services based a deeper understanding of customer trends or attracting more customers by means of competitive differentiation.
The proven BearingPoint methodology takes a holistic approach and is concentrated on business impact which results in fast value: we start small and scale later.
In our view the Insights Driven Organization is developed by building the right capabilities. This goes beyond technology alone. These capabilities can be established for all types of business functions.
Becoming insight driven requires an organization to have the right technology, data, processes, and organization in place. Although the hardest part lies in establishing a data driven culture, where taking decisions purely on gutfeel is simply not on the table. This requires a different mindset where people need to develop new competencies.
BearingPoint supports your organization in defining capabilities that are relevant for your organization and/or business functions. Insights driven business functions are improved by building specific capabilities as each organization needs different types of insights to become successful.
For example, the asset management business function might need to develop, amongst others, the following two insight driven capabilities:
Starting from a clear ambition for your organization BearingPoint cooperatively helps to develop the required capabilities.
Setting the right ambitions in terms of capability development is important, not every organization needs to be the next Apple!
When assessing an organization often there is a focus on current maturity levels and business needs. However, we believe that determining the capability maturity ambition is more important. Together with your company’s strategy goals considering cost, benefits and uncertainties, this ambition gives further guidance, by means of capability prioritization, in the transformation towards an insights driven organization. Capabilities with the highest impact and lowest effort are developed first, even if advanced analytics capabilities are required.
Curious what the next steps are?
Once the first step is taken and your organization has prioritized the capabilities essential to develop an insight driven business function it is time to start developing these capabilities. This big challenge should be tackled by consecutive small steps with the end in mind; starting with a pragmatic value driven approach in a specific department or team and expanding outwards towards the visionary insights driven organization you are dreaming of.
All steps in the value driven approach form an input for the next step, thereby making the key elements interlinked. As every capability has its unique characteristics and context, the outcome of each step will differ every time. However, the fact that you need to consider the sequential steps does not.
Curious why this process starts with the end in mind and what the typical pitfalls are if you deviate from this process? Stay tuned for our next article.
BearingPoint uses its knowledge and experience as well as best practices when helping clients setting-up their Insights Driven Organization. Talk to our experts to see how we can help you becoming a visionary enterprise.
Manager People & Strategy
Service Line Leader Data & Analytics