Organizations are increasingly realizing that to have a comprehensive and effective analytics strategy, their analytics solution must be deployed across the enterprise. At a fundamental level, this implies that analytics awareness will need to be embedded within the organizations architecture as well as in the organizations planning and roadmap for the future.
During these challenging fiscal times, government leaders are looking for cost savings ideas as they examine their operations. Public Sector leaders should perform a “needs assessment” in order to determine if an existing function can be provided more cost effectively or more efficiently.
The majority of federal agencies collect vast amounts of data, but what do these agencies actually learn from the data? With the application of analytics, agency leaders can use data to make informed decisions and improve the performance of their organization, while reducing costs. The President’s budget echoes this by placing an emphasis on analytics and performance, especially through the passage of GPRA 2.0.
In the future, it will no longer be enough to analyze historical data. In these past two posts, we are offering three principles government agencies should use in consideration when moving to the future of analytics.
In the future, analytics will allow us to learn from data in the moment to predict and influence possible outcomes. Analytics has the potential to enable government agencies to understand the current environment, predict future outcomes, and learn how changes impact outcomes quicker than ever before. These advances will drive significant cost savings and performance enhancements, but will take dedicated leaders to implement.
Government agencies today experience unrelenting pressure to improve their mission effectiveness while using fewer resources. Government executives must compellingly state the value their agencies provide. They continuously restate their message throughout the planning, programming, budgeting, and execution phases of their operations.
The business analytics market grew by 13 percent during 2010. Industry analysts predict that the sector will enjoy a sustained annual growth rate of nearly 9 percent through 2015. The growth in this sector is sustained by the indisputable competitive advantage that firms of all sectors derive from the use of analytics.
Agencies and departments have long been operating under the tightest of cost constraints and there is continued pressure to "do more with less." The recent rise of the debt ceiling and its subsequent budget cuts will bring fiscal challenges that are unprecedented. During these times of uncertainty, departments and agencies will have to operate more efficiently and analytics will help empower agencies to leverage new technologies to drive data-based decision making.