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There’s no such thing as a one-size-fits-all platform when it comes to analytics.
In the 20th century, the key business intelligence challenge we faced was a shortage of useful empirical data. In the 21st, the issue is having so much it’s hard to know where to start looking. Companies with adequate resources and institutional willpower can throw considerable sums towards establishing advanced-analytics programs.
The issue becomes what to do with all of the information being gathered. And that’s why we wrote this guide to finding the right analytics platform.
In recent years, McKinsey Analytics has conducted extensive research on companies making big investments in advanced-analytics tools. They found that as little as 10% of the potential value these approaches unlock has been realized by the lion’s share of investors. One recurring issue is a consistent failure to tie these technologies to clear, actionable business goals.
In this guide, we’ll explore what kinds of data are most relevant to common business problems. We’ll then look at key features offered by various analytics platforms that can help you solve them.