Extrapolation value from data to drive SUSTAINABLE business decisions means much more than company attend to perceive by having access to data, investing in analytic software, and hiring a few data analysts or data scientists. Sustained success in this challenging domain requires a complete cultural shift within a business to institutionalize analytics-based decision management.

Simula has found that having an “analytics culture” is one of the strongest indicators within the targeted company organization of future analytics success and developing an analytics strategy is an active process that plays a key role in building an effective, data-driven culture of the company organization. Rather than focusing on the vague potential of off-the-shelf data solutions, developing a successful analytics strategy requires assessing the unique business challenges, matching those challenges with relevant data and resources, and establishing processes that grow the company capabilities. Developing an analytics strategy is a complex process that yields many surprising, company-wide benefits. There are many levels of analytics and modeling technologies and it is important to apply the approaches that are best for the analytic question and challenge an organization is facing. We create analytics strategies that are customized to an organization’s unique business challenges, available skills, data infrastructure, and analytics maturity based on the following elements:

  • Vision & Mission
  • Concept of Operations
  • Business Model
  • Performance and ROI
  • Model Development Process
  • Project Intake Process
  • Organizational Structures
  • Responsibilities and Oversight
  • Program Workflow
  • Communication and Training
  • Key Short and Long Term Goals

The following consulting services can help our customers develop different parts of their analytic strategy.

An assessment of the viability of current data assets of the company. Rather than waiting on perfect data, Simula starts with what you have, align it with the business challenges, and build on it as we go. The iterative and incremental approach which was so many time glorified is showing the full strengths in this agile approach which is full embedded within Simula platform and supportive consulting services. Being able to deliver fast and smart data is one the imperatives in modern business, which ultimately protects the company and secure the future growth in very turbulent time of digital economy.

An appraisal of the organization’s current analytical maturity, how the organization currently applies analytics and where the role of data could be expanded to deliver more insight and Simula Analytics Roadmap Ranks Opportunities to Improve ROI value. During the assessment, our consultants develop a roadmap together with maturity model of the current (snapshot) organization within the company. This analytics roadmap ranks each opportunity along three dimensions: Cost, Return on Investment, and action-ability to help to identify low-cost, high-return actions to help build analytic momentum. The goals of the assessment are:

  • Determine the analytic readiness and maturity of the organization as a whole and the dedicated analytics team specifically.
  • Focus on the convergence of data, technology, and people needed for success with predictive analytics.
  • Provide a roadmap with actionable advice for improving the value of analytics within an organization and build up process for knowledge discovery

In order to reach certain maturity level our consultant executes the analysis of the current organization’s analytics software and data tools. During this process it is necessary to determine if these tools are able to address the problem the company is trying to solve, and provide vendor-neutral recommendations for new tools or data sets to execute the analytics strategy. Due to the comprehensive nature of analytics strategies, this process often advances ground-breaking discussions and directional changes for the entire organization. Simula goal is to maximize the value and effectiveness of the client organization by empowering the client to uncover transformative insights and realize impressive long-term return on investment.