Posted on: May 12, 2021 | 3 min read

Risk and Rewards in Aligning Corporate and Data and Analytics Strategies

In addition to validating your assumptions, a primary goal in your data and analytics is to drive proactive and intelligent decision-making. When organizations use data as an asset, that data benefits both corporate and functional roles.  

 

Benefits to aligning strategies: 

  • The increased economic value of the business
  • Privileged insights and proactive decision-making 
  • Greater return on investments for areas like real estate expansion, technology decisions
  • Differentiated innovation in products and services

For businesses unable to see the immediate and long-term benefits, recognize the risks for not adopting aligned corporate and data and analytics strategies.

 

Common challenges to not aligning strategies:   

  • Lack of performance metrics
  • Lack of improvements to operational processes
  • Lack of insights into external factors like market performance and brand influence
  • Lack of visibility into customer health like customer satisfaction, customer churn, etc. 

The list goes on. Without a data and analytics strategy, the organization cannot make improvements to systems and have quantitative measures to the efforts that are (in turn) driving the business.  

 

Techniques for aligning data and analytics strategy to corporate strategy

Objective Key Result (OKR) is an organized way to establish and measure your goals at the functional and strategic levels within the business. Below is an example of an OKR format.

O1: Improve understanding of customer base  

  • KR1: Establish a unified data platform with a selection of customer intelligence systems.
  • KR2: Reach 1 to 5 ratio of external to internal data with the inclusion of Nielson (3rdparty) market data within the database

Read our Learning Brief: Techniques to Align Data and Analytics Strategy to Corporate Strategy to get started.

Written by CCG, an organization in Tampa, Florida, that helps companies become more insights-driven, solve complex challenges and accelerate growth through industry-specific data and analytics solutions.

Return to Blog Home

Subscribe to our blog updates.