Analytics roadmap

How to Create your Analytics Roadmap without Hiring Expensive Consultants – Part 2

by
How to Create your Analytics Roadmap without Hiring Expensive Consultants. – Part 2
How to Create your Analytics Roadmap without Hiring Expensive Consultants. – Part 2
Written by Heather Cole, June 23rd, 2021

Are you ready to create your analytics roadmap?  Maybe you had a misstep in the past and are a little gun shy.  Well, have no fear, Lodestar is here.  Last week we shared with you how to create your analytics roadmap without hiring expensive consultants. Check out last weeks blog here.  This week we will take you through the next 3 steps to what Lodestar Solutions recommends for clients that want to start their analytic journey, but don’t have a budget to hire consultants.  These are the same steps we take our Cognos Analytics and Planning Analytics clients through that need help creating their analytics roadmaps. 

4. Engage Data Experts

Engage with Data Experts

The one thing every analytics journey needs is good, clean data.  So, the next step is to find out who are the data experts in your organization and explain to them your idea.  Even if you know where the data is do not tell them you need access to a particular data source, rather ask them how they think you could get the data you need.  They are the keepers of the data.  You want to honor their role and that sometimes you do not know the best place to get the data.  Most organizations have data lakes, mart, source systems… all containing valuable information.  But only the data experts know where you should get the cleanest data.   

Want to know more about clean data?  Check out this Forbes blog The Death Of Dirty Data: The Importance Of Keeping Your Database Clean. 

5. Create a Pilot Plan for Your First Analytic Destination

Now that you have an idea of what challenge you are tackling with data and analytics, and you identified the stakeholders and data experts, it is time to create a plan to pilot your analytics idea.  The great thing is even if you do not own a robust Business Intelligence like Cognos or Planning software like IBM Planning Analytics today, you can do this in Excel.  I believe you need to work with what you have available to prove your theory.  If you have heard me speak, I often talk about the MacGyver approach to analytics.  Here’s a link to an earlier blog I wrote on the MacGyver approach, The MacGyver Approach to BI and Analytics when you have limited resources.

For IBM Cognos Planning Analytics Clients:  If you happen to own Cognos Planning Analytics (TM1) you are set!  I love Cognos Planning Analytics for building your analytics pilot.  Cognos Planning analytics can bring in data from multiple data sources and allow you to model and report off the information.  The latest version of Planning Analytics (Workspace) even has dashboarding capabilities in IBM.  For more information on the latest version of Planning Analytics Workspace check out our blog, What’s New in Planning Analytics Workspace Version 61 and 62. 

Planning Analytics Workspace

Regardless of the tool you are using, remember, this is a pilot.  As soon as you create your analytic dashboard, report or scorecard, someone will say, “can you have it do….”  But that is okay.  This is an agile process.  Your goal should be to create a deliverable that you can share with the stakeholders and get their feedback. 

6. Deploy For your First Analytic Destination on Your Roadmap

Now that you have a plan, it is time to deploy your plan and start your journey on your analytic roadmap.  It does not matter what tool you are using, whether it is in Excel, IBM Cognos Planning Analytics, or another tool, you must just start!  It will not be perfect, it will need modification, but you started!  And getting started is the first step in any journey. 

As a smart person once said (not me originally),

“You don’t have to be great to start.  But you have to start to be great!”

It is important to know that U-turns and rerouting during your journey is absolutely okay!  That is how we refine and improve.

7. Repeat Steps 1-6

Once you have accomplished steps 1-6, guess what?  It is time to celebrate and repeat the process with another analytic idea.  Like any good journey your analytic adventure will not just have one destination.  It will have many and like life will continue to evolve as your organization and the world changes. 

Need Help with Your Analytics Roadmap?

If you need assistance or want to have someone help you facilitate discussions around your Analytic Roadmap, reach out to me at hcole@lodestarsolutions.com. 

In Conclusion

I am so excited for you to start your adventure.  If you have tried to start and had a misstep, don’t worry.  Lodestar Solutions has your back!  We are happy to discuss your specific journey and challenges. 

We are hosting a complimentary webinar for you to ask questions.

How to Create your Analytics Roadmap without Hiring Expensive Consultants

Thursday June 24th, at 12:30 PM Eastern

To Register click here. 

In the How to Create your Analytics Roadmap without Hiring Expensive Consultants webinar I will share stories from decades of implementing analytic solutions including Cognos Analytics and Planning Analytics.  I will also provide additional secrets to success to create your Analytics Roadmap.  

How to Create your Analytics Roadmap without Hiring Expensive Consultants

by
How to Create Your Analytics Roadmap Without Hiring Consultants
How to Create Your Analytics Roadmap Without Hiring Consultants
Written by Heather L. Cole, June 17th 2021

“This is going to be the year!  I swear this is the year we really leverage our Cognos and Planning Analytic investment!”  This is a quote from a mid-market client I have worked with and each year at renewal time, he says this is the year.  While I reflected on his challenge, I realized other clients including Cognos Analytic and Planning Analytic clients may have the same struggle.  So, today we will start our guide on how to create your analytics roadmap without hiring expensive consultants.   This is part one of a two-part blog.

1. Take One Step Toward Creating an Analytics Roadmap

The first step towards accomplishing any goal is to take the first step.  Have you ever had a project or goal that looks so massive that you don’t even know where to start?  Creating an analytics roadmap can feel very overwhelming.  You want to decide what to monitor, determine where the data is, make sure you have the right tools, and deal with all the personalities of the people that need to be involved.  It’s no wonder so many projects fail before they even start.  Then add to the fact you might have multiple tools like Cognos Planning Analytics, Cognos Analytics, Power BI, Excel….

But I’ll let you in a little secret.  It only takes one step to start.

It Only Takes One Step to Start

Yes, that is right!  It is okay for your organization’s analytic journey to start with just you and a simple l idea to provide better insights.

A Single Spark

The First Step

Let’s take the first step together.  Grab a stack of sticky notes.   Set a timer on your cell phone for 10 minutes.  And for 10 minutes I want you to jot down one idea on each sticky note.  Maybe you want an inventory dashboard to track shortages or maybe a headcount dashboard to deal with resource shortages.  What ever pops in your head write it down.  There are no stupid answers.  Just let the ideas flow. 

When you are done raise your right hand in the air.  Reach behind your back and pat yourself on the back!  You have officially taken the first step to creating your analytic roadmap without hiring expensive consultants.

2. Review Your Ideas

In step two we will review your ideas and prioritize them.  The goal is to choose an item that will make the biggest impact to the organization.  You could evaluate your analytic ideas considering several factors, but Lodestar Solutions has been implementing Cognos Analytics and Planning Analytics solutions for decades and we have learned there are three major considerations that help determine which analytic initiative will have the biggest impact.

  • How much money will the organization make or save by having visibility to this data?
  • Does the company currently have the data necessary to monitor this analytic initiative?
  • Will having visibility to this data help the organization accomplish their strategic goals?

When I work with our IBM Cognos clients to create their analytic roadmap, I have them score each idea 0-10 on each of the questions above.  Then we add up the scores and the analytic idea with the highest number is a great place to start.

3. Identify Other Stakeholders

Now that you have narrowed your analytic ideas down, it is time to go find some allies.  Successful analytic journeys almost always include stakeholders that are excited and have the power to make the vision of a dashboard, report, or scorecard a reality. 

Therefore, you will want to grab a piece of paper and write down everyone that would benefit from having greater visibility to the analytics and data you are proposing for your first destination in your analytic roadmap.  Once you have a list of people start reaching out to them and schedule a casual conversation.  You want to listen more than you talk and ask them for their ideas on the analytic idea.

If you are an IBM Cognos or Planning Analytics user, we recommend you include the Cognos or Planning Analytics administrator on your list of people to contact.  They can be a big ally for you if you ask for their ideas. 

Analytic Leaders

We are so proud of you.  The fact you read this far tells us you are destined to become a great Analytic Leader.  Here are a few resources you might want to check out.

Analytical Leaders: Five Key Tips To Increase Your Performance  by Forbes.

How CEOs Can Lead a Data-Driven Culture by Harvard Business Review

Define your Analytic Roadmap

Need Help?

If you need assistance or want to have someone help you facilitate discussions around your Analytic Roadmap, reach out to me at hcole@lodestarsolutions.com.

In Conclusion

I am so excited for you to start your adventure.  If you have tried to start and had a misstep, do not worry.  Lodestar Solutions has your back!  We are happy to discuss your specific journey and challenges. 

Be sure to check out part 2 of this blog!

Click here for How to Create Your Analytics Roadmap without Hiring Expensive Consultants Part 2.

X