How do you get stakeholder buy-in for analytics? | Watch the Recording
How do you get stakeholder buy-in for analytics?
In this recording, Alex talks about how previously he was a management consultant working on data science projects with numerous companies where he made actionable recommendations for change. In his experience, only 3% of these analytically derived insights resulted in business action.
To address why this number is so low and why stakeholders are not buying in to the analytics, Alex emphasises the following:
- Analytics is about change
- Change is about people
- You need to co-create change
He talks about a piece of analytics being a five-step programme, starting with identifying the problem, including ‘The 2nd Translational Gap’ and ending with change.
Alex looks at the three typical things that stakeholders who are resistant to change experience, and a recommended approach for securing stakeholder buy-in and delivering change.
He recommends working from the top down focusing on the outcome that you are trying to achieve and starting with the KPIs in the corporate strategy. Working down the value pyramid and engaging with the staff that understand the business processes, including their pain points and biggest challenges, will bring you the best results.
Alex talks through how they, at UK Power Networks, work in 3-week cycles. These include sprint activities and down week activities, including steering sessions, workshops and daily meetings. Actions are labelled stop, start or continue, making it simple for them to act and stay on track.
As a result, approximately 52% of these analytically derived insights result in business action.
“The business of analytics is change.
(and change isn’t delivered by spreadsheets)”