“Through 2022, only 20% of analytic insights will deliver business outcomes.” (Gartner, 2019)

My take: It’s good to have a high ambition but more importantly to have the right ambition. It's good to start by "We want to have data analytics projects/use cases. What should we analyze?" (as long as business values are the objectives), but the better path is "This is our objective, thus X and Y values should be created. What analytics should we perform?"

My personal note: I know the title is a bit controversial. Please don't get me wrong. I always think data science is awesome. I am also a big supporter of analytics implementation. Here is just a piece of my thought on creating better analytics  :)

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Data is widely considered this century’s most valuable asset—beating oil, gold, and anything precious in world history. The attention has been gathered and the spotlight has been shone on its ability to drive business decisions. The four-letter word now has another buzzword: data-driven. 

The dream of becoming data-driven is basically on almost every organization's wish list. When an organization implements a data-driven approach, it means the strategic decisions are based on the analysis and interpretation of data. The insights, patterns, and anything behind the data will be uncovered to decide the actions. So now, that we have data (tons of it!), we all should jump to the analytics, right?

Unfortunately, history repeated itself. Data analytics, as its technological advancement predecessors, is treated as a black box: as if it, by itself, will magically solve all the problems.  In fact, the analytics process as a standalone is far from wizardry. There are a bunch of processes going behind the curtain to ensure that the results benefit us. There are a plethora of details that hold more meaning than the tools and techniques: data governance maturity, analytics strategy clarity, translation and communication effectivity to name a few--business objectives to name the paramount. 

In short, neither having data nor performing analytics sets an organization apart from the rest. The success indicator of analytics is not having use cases but gaining business value. Therefore, it should first and foremost be about action and value (Schmarzo, 2020). Values should always be the heart of every process, including analytics, performed by an organization. Consequently, every analytics should always be able to be converted into value. Value creation means we start our analytics with a clear vision. Always have a business improvement opportunity/problem statement in mind. Instead of wanting to have a data analytics project, ask ourselves, why do we want to have one? What problems/improvements do we want to get the answer about? Invariably, have an objective regarding what should be generated through a use case before creating one.

Many publications including Gartner reported that most analytics projects failed. Let’s not be surprised that the reason wasn’t that the organizations lack use cases/projects/techniques/tools. No, it was not. After careful observation, it was revealed that many organizations didn’t start with a clear vision and objectives. That particular approach is inherently prone to failure in delivering business outcomes.

In conclusion, always know what business value our organization wants to generate through analytics. The clearer our vision, the better.  From there, we know what data should we collect, the data governance maturity level should we aim for, which analytics strategy should we implement, and which use cases should be prioritized. (Yes, we have to prioritize them. It means, not every data set should be turned into a use case exactly now. Some can wait. Some can wait even longer.) 

Back to the title above: "data analytics is overhyped". It will continuously fail to keep up with the hype as long as it doesn't put "value creation" at the center. Ultimately, an organization should be value-driven at the core. Always. Without exception.

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References:

Schmarzo, Bill. 2020. The Economics of Data, Analytics, and Digital Transformation. Birmingham: Packt Publishing Ltd.

White, Andre. 2019. “Our Top Data dan Analytics Predicts for 2019". https://blogs.gartner.com/andrew_white/2019/01/03/our-top-data-and-analytics-predicts-for-2019/. Accessed on 26 March 2022

image source: umanitoba.ca

If you only have 20 seconds to read this *wink as usual, don’t worry, I’ve already boiled down the insights into a sentence you can finish before your eyes blink thrice: to communicate data/numbers, give them emotions—angry number, happy number, tragic number, you name it.

Whenever I feel blue, there is something that puts things into perspective: the knowledge that some of my best days haven’t happened yet….

Yesterday, my friend excitedly told me about Sabrina&Belva’s wedding: an event that gave us abundant feelings, most especially warm euphoria. We barely know them personally but it didn’t stop the sentiments from coming over us. As if Disney movies jumped into reality, a fairytale-like wedding does exist. We are sincerely happy about their marriage.

We then talked about how mysterious fate was. We simply don’t know what will happen in the future, even in the next second. For sure, Bina (Sabrina’s nickname) in the past didn’t know that in the future she would sit in one of the best colleges in the world i.e. MIT while at the same time marry one of the most eligible bachelors in the country i.e. Belva. (P.S.: my friend has adored Belva since a long time ago and I occasionally heard about his works and manners. It’s safe to conclude that whoever marries him is on cloud nine.).

We also discussed Allah's mightiness to unite a person with someone alike. Indeed good men are for good women and vice versa. The Natuno's co-founder had gone through a lot and worked hard to be the person she is today--the kind of woman who's made Belva fall head over heels for. So did Belva who has put his all to build a better education environment in Indonesia. When the time came for him to settle down, he eventually ended up with someone like Bina.

Above all, their story gave us bounded optimism about the future.

Subsequently, I remember a post that has helped me get a hold of myself, written by Omid Scheybani. He mentioned that anticipating all the upcoming small and big things was something that put him on stable ground. The notion that several best days in his life haven't happened yet has assisted him to overcome his sorrow.

The aforesaid notion affected me likewise. It’s comforting knowing that some of the most beautiful feelings of my life are waiting to happen. It’s uplifting to realize that sundry best days in my life will eventually come. The day I fall in love, the day I marry someone, the day I embarking my master’s degree journey, the day I become a mom, the day I perform hajj, the days I see my parents, brother, and friends’ best moments, and so forth. It’s a wonderful thought that some of the most beautiful days in my life haven’t happened yet. I will work on myself to be someone who deserves those delightful moments.

Lastly, barakallah for the wedding which gave a lot of people heartfelt emotion, Sabrina and Belva. Thank you for reminding me once again that inshaAllah the future holds a bunch of my finest moments. I have faith in Allah so I trust my journey. Even when sadness hits me, I would remind myself of this idea: some of the best days in my life are waiting for me. The best is yet to come so I should be patient. 

I believe there is happiness waiting in front of each of us after the long tiring days :)

Love,

iim

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The title above mirrored Omid's post title: The Best Days of Your Life

image source: twimg.com