10 insights into your analytics program
Booz Allen Hamilton gathered a great utility-insider panel (PG&E, Xcel Energy, CenterPoint Energy and Commonwealth Edison) for their Utility Analytics Week session on driving change through analytics this week in Atlanta. Here are 10 tidbits from the talk.
1. Don't talk about business cases with analytics. Talk about pain points. Find questions that relate directly to those. Analytics can solve for that, not for business cases.
2. Think about adjacency. We want to create that focus on relationships in the utility industry.
3. Understand that this is all one team. Don't see a wall between analytics and business.
4. Don't focus on org charts and budgets. Focus on solutions.
5. Keep adding. Move from a drop to a puddle to a lake with your program.
6. Keep the gut check. Sometimes the analytics results won't make sense in the practical world. You need people who understand that.
7. Look at other industries who are ahead of us for analytics best practices: insurance, banking, aerospace, retail.
8. Help everyone involved in your processes understand the importance of analytics and what all those numbers really mean. Grassroots socialization works best.
9. Separate fact from fiction when it comes to your own analytics program. What can you invest in? What's really possible? What's beyond your realm?
10. Drive your own programs. Think about GPS. Even if you have that in your car, you still have to look at the window and drive. While you have the data, you still have to make the data work for you. You still have to understand when things are going wrong. You have to continue to update.
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