Our data show perceptions of the importance of Guided Analytics® correlates highly with levels of success with business intelligence (BI) initiatives. An important component of self-service BI, Guided Analytics improves time to insight and action by supporting the creation of connections between related and relevant information as well as directing and suggesting analytical story flow.
However, two less-than-obvious factors constrain broader adoption of Guided Analytics. First, executive management and the finance organization may not fully appreciate the role Guided Analytics can play in operations because other capabilities—like those provided in enterprise performance management (EPM) and financial consolidation, close management, and financial reporting (FCCR) systems—often meet their analytical needs. And sometimes analysts directly perform analyses for executives in these functions. Second, to be successful, Guided Analytics requires a certain level of Hyper-Decisive® maturity of capabilities in data management and analytical methods.
Data leaders have a twofold challenge to communicate a benefit statement that justifies appropriate investment and to best utilize the investment made. The difficulty in meeting these challenges is that data leaders must determine the organization’s readiness for Guided Analytics and include capability development in the phasing of the initiative. The data leader’s communication needs to show how Guided Analytics can be used in operations and in conjunction with EPM to give executive management tools they can use for more sophisticated strategic planning.
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