Converting analytics into management actions
Abstract
This is a world where many resources are becoming depleted. Few resources are growing, and only one is growing exponentially: information. All information has potential value — but only if it is used. Simply producing more analysis, whatever the quality, will only make life harder for decision makers. What is needed is an approach to the management of insight that ensures it has the greatest impact. Instead of simply servicing demand, it is time to start thinking in terms of how insight and information can and should create value, and then develop a strategy, not just for generating that insight, but working with decision makers, communicating the insight and supporting the decision-making processes so that the insight actually gets used. This article argues that to maximise value from insight, senior management must address eight key issues.
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Author's Biography
Steve Wills worked as an engineer and strategy consultant before running a research and analysis agency. He began work on best practice in insight in 2000, establishing himself as a leading authority, and pioneering the concept of insight management. He founded the Insight Management Academy and has run the IM Forum since 2005, developing and defining best practice with the UK’s most progressive insight teams. He is a Visiting Fellow at Winchester Business School.
James Wycherley became Chief Executive Officer of the Insight Management Academy in 2015 after 10 years as Director of Customer Insight and Analysis at Barclays Bank. He is an expert on insight strategy and positioning, knowledge management and insight communication, and has delivered consultancy and keynote presentations in Europe, North America, Australia and the Middle East. James has lectured at Winchester, Anglia and Ashridge Business Schools, and has a passion for sharing knowledge regarding best practice.
Citation
Wills, Steve and Wycherley, James (2017, April 1). Converting analytics into management actions. In the Applied Marketing Analytics: The Peer-Reviewed Journal, Volume 3, Issue 1. https://doi.org/10.69554/KBDP5510.
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