According to CIO.com, you need quite a few ingredients to build a successful data analytics team. Starting with the need to put together a diverse task force of different business unit stakeholders who understand the data from various viewpoints, the article goes on to talk about the need to develop a common framework, adopt pervasive toolsets and develop an internal appreciation for the value of the data. While all of these are key to building a sustainable data analytics practice, who has the time right now to build it?
Looking at the opposing forces of how much time do we have to build versus when will we show results is the classic debate of any business entity. The answer is that for organizations to be successful, they need to do both–right now and simultaneously. Yes, that means investment but there is no time to wait to organically fund and grow a team because profits are waning without the insights that data analysis could bring. On the other hand, most organizations don’t want to outsource forever because you become too reliant on an entity that you don’t control, but that has control of your data and its meaning.
Building a data analytics practice means outsourcing now to a partner that can splice into your group to effect real outcomes now while building a team for the long-term. Think of your data analytics outsourced team as the support and scaffolding coming in to aid in the building renovation that once complete, can fall away to reveal a new and improved business. This is the process of digital transformation and a good partner can help you both plug in for the short-term to get business results while helping you to plan and build capacity for the long-term.