Data is the new raw material of economic value for organizations – so says The Hackett Group’s latest research.
The ability to harness it for business insights plays a growing role in driving profits, and creating competitive advantage. Doing so requires a significant upgrade in talent – companies need people now with better and broader analytics skills in every area of the business.
Business functions face critical challenges to deliver on their organizations’ digital transformation strategies – one of the biggest being the need to harness and use increasingly complex data to improve performance. Doing so will require a significant upgrade in talent. Here, we review recent research that points to rapid acceleration of the use of mainstream and emerging advanced analytics tools. We also examine new skill and resource requirements required to benefit from those capabilities, as well as strategies for developing such skills and building an analytics organization for the future.
- Expected growth in mainstream adoption of advanced analytics – overall and by business function for Finance, HR, Procurement, and IT.
- Expected increase in use of predictive and prescriptive analytics for key finance, HR, and procurement processes. Five or more processes are included for each functional area.
- Expected growth in mainstream adoption of cognitive computing/artificial intelligence – overall and by business function.
Download The Hackett Group’s Closing Enterprise Analytics Talent Gap paper and learn:
- How advanced analytics is fundamentally changing business performance
- Key trends in adoption of analytics tools
- Expected increase in use of predictive and prescriptive analytics for key finance, procurement, HR and IT processes
- Why 82% of finance functions expect to adopt advanced analytics in 3 years
- Top analytics skills each business function needs to develop
- Looking ahead: what’s in store for your organization
Download link: http://go.poweredbyhackett.com/eat1803sm
- The Hackett Group is a leading global strategy and operations consulting firm, with particular expertise in performance benchmarking and business process reengineering. For companies wanting to optimize their service delivery models, we offer deep expertise in organizational design and in business process outsourcing options including HR outsourcing, IT outsourcing and more. Our cash flow analysis services have helped clients to free up billions of dollars in improved cash flow. Our procurement expertise extends to strategic sourcing and supply chain optimization, while our technology services include support for IT strategy development as well as specific platform deployments such as Oracle or SAP implementation.