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Innovation Strategies: Driving Business Service Innovation with Analytics

Innovation Strategies: Driving Business Service Innovation with Analytics

This IDC study provides a set of best practices and actionable advice for CIOs and senior IT data managers who want to support business innovation and the digital transformation initiatives of their enterprise. It presents strategies for creating tools and policies for providing data analytic services to multiple business divisions and functions while standardizing the overall approach of IT management. By adopting these practices recommended by their peers, CIOs and senior managers will:Improve their ability to anticipate and capture key business KPIs for data analytics.Negotiate reasonable goals and performance targets for analytics to optimize IT resources while improving the value of data services.Develop techniques for creating business-oriented presentations of key data in a form that satisfies multiple business leaders and functions.Create a data analytics service within the IT organization with key digital skills to provide ongoing and more sophisticated data analytics competencies.This study focuses on Leading in 3D, Innovation Strategies, and Leadership Transformation."CIOs will be under pressure to develop competency centers for data analytics that will be expected to serve multiple business functions with varied skills, expertise, and expectations," says Fred Magee, adjunct analyst with IDC's Research Network. "Creating an analytic toolkit that can be taught, learned, and managed will go a long way toward standardizing the way data analytics is done as well as establishing the basis for analytics architecture in the enterprise."

Please Note: Extended description available upon request.

IDC Opinion
In This Study
Situation Overview
Know Your Business Model and Its Data KPIs
Know Your Customers and Their Personal Business Goals
Don't Overcomplicate Analysis, and When in Doubt, Simplify
Develop a Competency in Providing Value-Based Analysis
Future Outlook
Essential Guidance
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