#15 Redefining Analytics: How to Overcome the Challenges and Unlock Immediate Value
The Harsh Reality of Building an Analytics Function
Setting up a capable analytics and planning function is one of the toughest challenges facing businesses today. At its core, this function responsible for analysing data and providing insights to guide decision-making should empower organisations to make data-driven decisions across all areas of the organisation. However, the journey to establishing this function is often riddled with obstacles.
Consider this, 85% of data science projects fail, according to a Gartner 2017 study. Despite massive investments in cutting-edge technology, many organisations struggle to align their analytics capabilities with their broader business objectives. Teams find themselves burdened with setting objectives, finding the right technology, recruiting and training talent, and managing hefty consulting fees. And yet, after years of effort, the results often fall short. The analytics team becomes overworked and still fails to meet the business's needs.
Worse yet, by the time an analytics project is finally implemented, the business landscape has often shifted so dramatically that the insights generated are outdated. This creates a frustrating cycle where managers, wary of delays and underwhelming outcomes, hesitate to green-light new projects, fearing that the effort will be wasted. I've seen this scenario play out in numerous organisations, leading to a pervasive sense of disillusionment.
Why Technology Alone Won’t Save You
It doesn’t have to be this way. While technology is often seen as the panacea for analytics woes, the truth is that technology alone is not enough. The real key to success lies in establishing the right processes and policies, particularly around data governance.
Too often, organisations focus on acquiring the latest backend systems or front-end visualisation tools, hoping that these will deliver the insights they need. But without a strong foundation such as well-designed data structures and a clear understanding of what information needs to be collected—these tools fall short. A guiding policy should outline the metrics that drive success, clarify data ownership and sharing, and ensure that the right incentives are in place across the organisation.
When these elements are aligned, the technology fades into the background, becoming a seamless part of the decision-making process rather than a barrier. A transparent process, coupled with clear documentation and accountability, allows the entire system to function smoothly, ensuring that technology supports rather than hinders your goals.
The Hidden Advantages of an External Analytics Partner
Given the complexities of building an in-house analytics function, many businesses are turning to external providers for support. The benefits of this approach are numerous, especially when compared to the challenges faced by internal teams.
External partners offer significant advantages, including scalability, broad exposure, and objective independence. These teams, drawing on their wealth of experience from working with multiple clients across various industries, can quickly leverage their existing expertise to generate valuable insights and outcomes for your organisation. External partners do not need to build processes from scratch and can efficiently identify how best to integrate and apply insights within your specific context. Their ability to scale resources up or down as needed ensures that businesses of all sizes have access to top talent, while also allowing for greater flexibility in managing costs—paying only for what you need, when you need it. Moreover, their independence brings fresh perspectives and aligns incentives with delivering measurable value, helping to prevent stagnation and siloed thinking that can occur within internal teams.
How Enlite Partners Transforms Your Analytics Journey
At Enlite Partners, we’ve built our services to address these exact challenges and deliver exceptional value to our clients. Our team of experts is ready to provide actionable insights in weeks, not months or years, thanks to our pre-established infrastructure. There’s no need to spend time setting up systems or training internal staff—we handle everything for you, from data collection to strategy formulation. We continuously invest in cutting-edge technology, ensuring that our clients benefit from the latest advancements without needing to make significant investments themselves. Our approach is end-to-end, covering the entire spectrum from data collection to strategic planning, requiring minimal effort on the client’s side. This process is underpinned by continuous collaboration, ensuring that we remain aligned with your evolving needs. What truly sets us apart is our unique combination of being finance-led, data-driven, and strategically aligned, allowing us to provide insights that not only inform but also drive your business forward.
But our value doesn’t end there. Because we can scale our services to meet your evolving needs, we offer ongoing support that adapts as your business grows. Our commitment to staying ahead of industry trends and technological advancements ensures that your analytics function remains relevant and effective, not just today but for the long term.
Ready to Turn Data into Decisions?
The old way of doing things—years of setup, delayed implementations, and missed opportunities—no longer needs to be your reality. By partnering with Enlite Partners, you can bypass the common pitfalls of analytics implementation and start taking decisive action to grow your business with confidence. We focus on driving tangible results, empowering your organization to move beyond mere decisions and into proactive, growth-oriented strategies.
Take the first step today. Reach out to us for a consultation and let us show you how we can transform your analytics function into a powerful driver of business success.