The role of Analytics Leadership is being projected into the spotlight as technologies like AI continue to improve its value. AI-enabled advanced analytics is expected to unlock US$9.5 trillion to US$15.4 trillion annually, with recent advances. In the past few years, we have seen that successful analytics leaders are often analytically minded people who perform under a mission-critical situation. They have data and analytics as their lifeblood, leading their organizations to an unmatched position. Such leaders aggressively make analytics the top priority and rally all executives and business units behind the effort.
We saw a massive increase in data generation in recent times giving rise to better data capture and analytics technologies. As companies began placing higher expectations on such data, analytics leaders became more crucial to their expectations. With the new level of urgency brought in by technologies, digital analytical leadership became increasingly successful, enhancing the intensity of competition. Being versed at achieving their goals, the passionate leaders enable push against what was often significant organizational resistance, to drive innovation beyond challenges.
As per the market reports, organizations with the strongest cultural orientation to data-driven insights and decision-making are more likely to exceeded their business goals. Among the significant factors that enable companies scale their analytical insights, a data-driven culture is the most difficult to establish which holds back many organizations. And such culture can be introduced under the direction of top analytical leadership in an organization.
Also, it was found that numerous companies do not have initiatives in place to address the data-driven culture issue which demands the involvement of analytics pioneers who can encourage this level of organizational change. With the guidance of their lead champion of analytics, organizations are more likely to have exceeded their business goals and derive actionable insights from the analytics they are tracking. Ambitious organizations should hire or promote leaders with a strong orientation toward analytics-based strategy and competition. They should encourage analytics leaders to model examples.
As big data and analytics bring about this revolution, the leaders with a working knowledge of data science will have an edge. A vast pool of opportunities in current era offers leaders the possibility to harness a transparent yet structured environment in which they can not only track individual and team performance, but also become a vector for team collaboration, personal growth, and skill-set amplification.
The analytics leaders are accountable for managing & tracking large scale projects from data management, to prototyped pipelines, to operationalized results. They can even help enhance team productivity by enabling individual team members to grow their scope of expertise, leverage the tools and technologies that best respond their needs. Their capability should reflect in their ability to capitalize on a larger array of talents & expertise to achieve enterprise-wide goals.