Thursday, June 4, 2015

Strategic Objective and Analytic

Strategic Objective and Analytic

To get a better handle of causal relationship  between strategy and operations - To know which
action will advance strategic theme and objectives-companies are increasingly turning to data analytic

The IBM institute of Business Value's 2013 analytics survey result, presented most comprehensive look at organisational activities related to data and analytics. After doing analysis of survey, outcome of 9 key levers which was further broadly categorized in the 3 levels and that is 1. Enable, 2. Drive, and 3. Amplify. It was found strong correlation between organization that excel at these levers and those that create greatest value from analytic.
Leaders are setting the organization direction for analytic by aligning big data and analytic strategy with the enterprise strategy and investing in scalable and extensible information management capabilities

Following are quoted from  online marketing conference.

Why is the strategy part so challenging for companies?

Both web analytic consultants and practitioners alike would probably agree aligning an implementation to a company’s business goals as one of the most important steps – but also one of the most difficult to accomplish. Why can it be so difficult? I’ve identified three roadblocks that can create problems.

1. Tactical focus
Web teams are really busy handling the onslaught of daily tasks — launching new paid search campaigns, managing site updates, planning the next site redesign, creating new online surveys, building ad hoc reports, testing new landing pages, etc. Workforce reductions in the last couple of years may have burdened these teams with more responsibilities and less resources to complete them (let’s not forget the smaller training budgets). They are essentially struggling to keep the online boat afloat – bailing water while trying to keep the sails up. However, I frequently find that not enough people have stopped to check if the boat is heading in the right direction.

They might be meandering in a generally safe direction, about to hit the rocks, or already shipwrecked – and nobody even noticed. Even when an individual or team isn’t clear on the company’s online strategy or business goals, they will continue to diligently focus on accomplishing their day-to-day, tactical responsibilities. The default setting in most of us is to keep busy, keep our heads down, and get things done — not wait around for an online strategy to be provided or clarified. Good tactical execution is important, but strategy ensures that efforts are not wasted on the wrong activities or goals. As Sun Tzu stated, “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”

2. Organizational dynamics
In large organizations, multiple divisions or teams share parts of the company’s online presence, but nobody oversees the overall online business. As a result, there is frequently no overarching online strategy or shared business goals that unify each group’s focus.
In some cases, the online parts of a business can turn into a political battleground with different groups wrestling for control. You don’t need 14 different business divisions and worldwide operations to experience politics because even small companies have run into the same conflicts. With each team interpreting the organizational goals independently, it becomes very difficult to prioritize and align a web analytics implementation to vague or conflicting business objectives. Whether or not your company’s decision making is centralized or decentralized, having a clear online strategy is always a best practice and essential for creating a global view of a company’s online performance.

3. Inadequate discovery process
One of the most important steps is to involve all of the key stakeholders in the discovery of the organization’s business requirements and clarification of the online strategy. Sometimes a single person or group may feel they can represent the needs of the entire company to save time, and not all of the stakeholders need to be bothered with the discovery process. Despite the best of intentions of these individuals, I’ve seen this approach fail on multiple occasions.

Leadership is the answer: 3 Level that come under "Amplify" per IBM Business value Analytic Survey
When leaders clearly articulate the online strategy to employees and teams, those individuals are empowered to be more strategic with their tactical responsibilities.
Despite a company’s complex organizational structure, the right level of leadership can align different individuals or groups around a unified online strategy and minimize the politics.
Leadership can play a key role in ensuring that the right people are participating in the discovery process. Leaders can make sure that all the right people are not only involved but also committed
As the famous business professor John P. Kotter stated, “Leaders establish the vision for the future and set the strategy for getting there.” Effective leadership plays an integral role in not only establishing the strategy but also ensuring that business performance can be measured against the defined strategy.


InfoGraphics and Data analytics

Data visualization is both an art and a science. The rate at which data is generated has increased, driven by an increasingly information-based economy. Data created by internet activity and an expanding number of sensors in the environment, such as satellites and traffic cameras, are referred to as "Big Data". Processing, analyzing and communicating this data present a variety of ethical and analytical challenges for data visualization. 

A Picture is Worth a Thousand Numbers
Because of our human ability to understand relationships quickly based on size, position and other spatial attributes, the eye can summarize what might otherwise require thousands of numbers to convey.

Researcher and Analyst started sharing Information in the form of graph and chart which gave the concept of INFO-GRAPHICS

Edward Rolf Tufte s an American statistician and professor emeritus of political science, statistics, and computer science at Yale University.
Tufte is an expert in the presentation of informational graphics such as charts and diagrams,
Information design
Tufte's writing is important in such fields as information design and visual literacy, which deal with the visual communication of information. He coined the word chartjunk to refer to useless, non-informative, or information-obscuring elements of quantitative information displays.
Tufte's other key concepts include what he calls the lie factor, the data-ink ratio, and the data density of a graphic

Chartjunk refers to all visual elements in charts and graphs that are not necessary to comprehend the information represented on the graph, or that distract the viewer from this information

He uses the term "data-ink ratio" to argue against using excessive decoration in visual displays of quantitative information.In Visual Display, Tufte explains, "Sometimes decorations can help editorialize about the substance of the graphic. But it's wrong to distort the data measures—the ink locating values of numbers—in order to make an editorial comment or fit a decorative scheme."[citation needed][page needed]

Tufte encourages the use of data-rich illustrations that presented all available data. When such illustrations are examined closely, every data point has a value, but when they are looked at more generally, only trends and patterns can be observed. Tufte suggests these macro/micro readings be presented in the space of an eye-span, in the high resolution format of the printed page, and at the unhurried pace of the viewer's leisure.

Here is the few interesting links
10 Best Or Worst Ways To Visualise Web Analytics Data
The 37 best tools for data visualization
Beautiful use of Infographics