Obtaining Business Buy-in on Data and Analytics Strategies

25 min read
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Illustrating the Value of Data-Driven Initiatives

A Gartner® report states that “Chief Data Officers (CDOs) recognize that there is an inherent need for data-driven business decision making.”

However, it’s often challenging to illustrate how data and analytics (D&A) efforts support KPIs and contribute to positive business outcomes. To gain buy-in and successfully implement D&A strategies, data leaders must refine their approach to selling these solutions to their stakeholders and fellow executives.


Many CDOs are still not measured on the business value of their data and analytics strategies, let alone able to meet their measurable objectives.
- GARTNER

 

  • 44% of surveyed CDOs are measured on “ROI from data and analytics investment,” but only 30% of them are successfully meeting that objective.
  • D&A leaders must target business value drivers and articulate the SMART benefits of their strategies and the solutions that support them.
  • Six-step approach to selling D&A internally focuses on demonstrating real business value and appealing to the “why” behind each strategy or solution.

Building a Business Case For D&A

  • Set a leading narrative.
  • Call out inhibitors and address how to overcome them.
  • Define an outcome-focused solution blueprint.
  • Present your roadmap and timeline in business terms.
  • Model the summary cost-benefit analysis.
  • Take action immediately to maintain momentum.

CDOs Can Use This 6-Step Approach to Obtain Buy-In and Sell Data and Analytics to Stakeholders - Alan D. Duncan, Jorgen Heizenberg, 9 July 2021.

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