Business Strategy & Analytics
What is Analytics?
At its core, the Analytics discipline allows businesses to make better decisions via the use of data, modeling, strategic planning and structured thinking.
Why should every business embrace analytics?
An analytic mindset and toolset will help you to uncover the most important facets of your business and ensure that all of your people are focused on the areas of your business which will maximize leverage, opportunities, drive profitability and reduce risk.
Three Hive Strategy can help you to build an Analytics platform that is specific to your business needs (and your available resources) in order to confidently power your growth, your decision making, your prioritizations and your success.
Our Approach
Three Hive passionately believes in a bottoms up approach to Business Strategy & Analytics.
Without a clean articulation of your strategy the value of an analytics platform will never be fully realized nor will it be embraced within your organization. Foundational investments allow for further analytic development.
ANALYTICS PYRAMID
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Defining your analytic vision is the most important part of the journey, it is the foundational step. Clear goals are necessary to guide the investment and the analytics asset creation.
The analytic vision must be directly tied to the vision for the business and the fundamental economics of the business.
Success requires team alignment on the role of analytics in the business; there is not a one size fits all answer to how analytics should fit into your business. Do you want an analytics and data driven culture or do you want analytics to be a support organization?
Identification of the key drivers of success (KPIs) is critical as is an understanding of how they may change over time.
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Hire, train, empower and prune your labor assets to align with your business and analytic vision.
Every person should have metrics they are measured against. The metrics must be aligned to the success of the business allowing everyone to know how their performance is measured and how their work contributes to the team’s success.
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Organize your data in a way that facilitates measuring the KPIs, answering hard questions, and solving problems so you can align your people to drive success.
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Build efficient reporting to ensure all KPIs are measured and managed.
All KPIs need a business owner that speaks to them and is always working to optimize outcomes.
Reporting should guide decisions down defined paths. I.e when a KPI is good we do X, when it is bad we do Y.
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Internal consulting to answer the questions that have not yet been asked or answered.
Pricing and profitability optimization.
Guide decisions down undefined paths with a goal to standardize the path and then push down the pyramid to Reporting.
Create easy to understand constructs to drive decisions, consistency and business efficiency.
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Transformational projects at the intersection of data science, technology and the business. Machine learning, AI, predictive analytics, etc.
Drive efficiency, consistency, speed, customer satisfaction.
Focus people resources away from work that does not benefit from human involvement allowing a focus on the complex problems that do benefit from human consideration.