What could be the outcomes for various departments in an organization in terms of using analytics? Here is part 1 for the same.
Background and context: Most organizations struggle at some point of time in their lifecycle for management outcomes and as per the latest trends try to use analytics to assist in better decision making. With more than 30-50 areas for algorithms / frameworks and knowledge in the quantitative and mathematics fields, where should the focus be? Based on my observations and learnings, focus could be on below areas in terms of outcomes:
Human Resources:
- Employee satisfaction
- Career advancement
- Skills & Knowledge analysis
- Compensation & benefits analysis
- Leadership pipeline analysis
- Scalability analysis
- Cost analysis
Finance:
- Sustainability in terms of profitability & continued revenue
- Local community engagement
- Investments for sustainability
- Product & services evolution & sustainability
Product team:
- Customer satisfaction scores
- Revenue trends
- Features analysis in terms of usability & adoption
- Product support & customer success scores
Marketing:
- Customer retention
- Net new customer addition
- Brand awareness & recall
- Cost analysis for digital marketing & customer acquisition
Operations:
- Customer satisfaction scores
- Turn around and closure time for requests
- Problem analysis & cause finding
Email me: Neil@HarwaniSystems.in
