Functional expertise, beyond specific sector expertise, will become more and more relevant. Being the best in an industry is no longer enough now companies must aspire to be at least at par across industries to compete effectively. Democratization of data is blurring sector boundaries businesses will increasingly find themselves disrupted not by the company they have been monitoring for the last several years, but by a newcomer from another industry. These companies quickly become frustrated when they see their efforts falling short while more analytically driven companies are leveraging their data. Even if a pilot does answer the right questions, it may not address the cultural aspects that would, for example, make a sales representative trust a model more than her own experience. Instead, the pilots are carried out in small labs with limited connection to the business, and fail to provide the answers the business needs to move forward. Consequently, they are not designed with an end-to-end approach that incorporates the necessary conditions for implementation. Some of these pilots have been mere exercises in “intellectual curiosity” rather than a serious effort to change the business. As a result, their efforts often end up as small pilots that fail to scale or have significant impact. In working with a wide range of organizations, McKinsey has seen many companies start their analytics journey eagerly, but without a clear strategy.
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