The Logistics domain is working on a research project to help organizations develop their data analytic capability.
Expertise
They are working together with companies currently dealing with this issue. Based on preliminary findings a practical framework has been developed which was presented by colleagues Alinda Kokkinou and Jan van Elderen at a conference in Bled, Slovenia.
What does the framework look like? Like a bicycle wheel, data analytic capability helps propel organizations forward, by making them more agile. It is based on six spokes: data, data analytics, employee knowledge and skills, IT infrastructure, processes and structure, and management. At the center of the wheel is the organization’s strategy.
The wheel explained
IT infrastructure: An infrastructure to collect, analyse, and store data is needed. Technology providers are an important resource to provide support.
Processes and structure: Processes need to ben in place in the organisation to ensure that insights generate also result in improved decision-making. A central department can facilitate the development of data analytic capability.
Management: Management formulates and communicates a vision for data analytics, invests in employees and resources, and models data driven decision-making.
Knowledge and skills: Both domain knowledge and technical knowledge are needed for employees to be able to translate business needs to analytic needs, and to conversely generate business insights from the use of data analytics.
Data analytics: Organisations need the tools to analyse the data and turn it into actionable insights. These can ben classified into descriptive, predictive or prescriptive.
Data: Organisations need to be able to identify, access, and/or acquire data that is complete, accurate, timely, reliable and of value. This requires data governance to be put in place.
Strategy: The development of Datta Analytic Capability needs to be linked to strategic goals.
Organisational Agility: Data Analytic Capability enables the organisation to quickly respond to unanticipated changes in its environment through better decision-making and resource allocation.
