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Data to Knowledge to Results: Building an Analytic Capability
Data remains one of our most abundant yet underutilized resources. This article provides a holistic framework that will help companies maximize this resource. Outlines the elements necessary to transform data into knowledge and then into business results. Managers must understand that human elements--strategy, skills, culture--need to be attended to along with technology. Examines the experiences of over 20 companies that were successful in their data-to-knowledge efforts. Identifies the critical success factors that must be present in any data-to-knowledge initiative and offers advice for companies seeking to build a robust analytic capability.