McKinsey & Company
MAY 27, 2014 5:00am ET

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While many organizations are still trying to prime the pump and build a pipeline of analytics pilots, those that are further along are establishing review boards to prioritize projects and build a balanced portfolio of analytics efforts. The most successful review boards assemble a range of leaders from across the business. This helps ensure broad acceptance and buy-in, encourages a fair debate to prioritize efforts with the highest return, and allows different units to coordinate the resources required to deliver results (including internal and external talent, investment, and technology). Critically, these boards and processes must be more dynamic than a stereotypical body that meets during an annual planning process. To be effective, they must meet frequently and be willing to reprioritize efforts in the face of changing business dynamics.

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Comments (2)
Great post, thanks for sharing. It's important to link together all areas of business from different data sources & divisions. One does need good data for good reporting and business insight, especially when dealing with data from multiple sources.

Linda Boudreau, Data Ladder

Posted by Linda B | Wednesday, May 28 2014 at 2:50PM ET
Great article! The points on data governance are truly key. While IT is especially well suited to managing data, true ownership of data best lies with the business owners of the data, as you suggest. I have successfully used the analogy of a bank, which is understood globally, with prospective business data owners.......the money/data is "owned" by the business and the bank is IT. It's your money, however you must follow the rules the bank has in place. Being able to wrap our arms around big data and gain value from it, both externally and internally, is vital to the future of most businesses.
Posted by Diane D | Thursday, May 29 2014 at 1:50PM ET
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