The Harvard Business Review recently interviewed National Data and Analytics Practice Lead Kris Moniz for his expertise in business teams and data use.
Kris Moniz, National Data and Analytics Practice Lead, was cited in The Harvard Business Review Analytic Services’ recent pulse survey titled, “Empowering Business Teams with Improved Analytics Processes.”
The survey found that 71 percent of business teams rely on data analysts and data teams for insights but fail to unlock the data’s potential. Today’s world has access to so much data and reporting, yet business teams don’t always get the “why” behind that data. Business teams must realize and understand those insights to achieve positive results.
The survey also found that 64 percent of organizations find it difficult to get valuable insights from their unstructured data sources, and 43 percent of respondents say their organization fails to incorporate all its relevant data into analytics processes and projects.
“You need to have a way to track what you’re doing to prove that the investment is doing what it was intended to do. That has to be part of implementing the capability,” says Moniz.
In the report, Moniz also discusses a prevalent issue for businesses trying to organize and analyze unstructured data: finding people to do those tasks. In fact, 34 percent of respondents say hiring the necessary high-skill talent for data analysis is a challenge.
“A lack of talent is really slowing companies down from being able to do really powerful analytics, and [this lack of talent] has been exacerbated in the worst possible way over the past year-and-a-half with the pandemic,” says Moniz.
According to the report, the path to more powerful analytics requires companies to reconsider the roles people, processes and technologies play in their data analytics landscape.
Click here to read the full report.