Understanding and communicating the value of projects
The second factor to call out is that the finance organization or the portfolio management function in the organization does not know how to calculate the relative value of the possible projects in the analytics portfolio very well or with the needed level of accuracy. I am not being harsh or demeaning to the finance or portfolio management teams with this remark. The analytics projects being discussed and undertaken are not well defined, or at least not as well defined as they could be. Analytics projects have a great deal of flex and flow in their definition.
It is paradoxical that the analytics team is not very good at defining the details of the project delivery, cost, timelines, and relative value of analytics projects. Given that the primary purpose of analytics projects is the measurement of performance or the prediction of future results, it would be expected that the analytics team would be better at this aspect of...
