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DATA & ANALYTICS BLOG

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The Importance of Selecting the Right Analytics Partner

Posted by LPA Software Solutions on Sep 26, 2021 1:52:45 PM
When to Engage an Analytics Partner for Services

Businesses are collecting and storing unprecedented amounts of data on their customers, technology, and business operations. Companies that harness and analyze that data to make strategic decisions turn it into a competitive advantage and reliable predictive tool.

Working with the right analytics partner can complement and expand an organization’s internal knowledge and fast track solutions through breadth and depth of experience. Even the most data driven organizations with large analytics teams have realized benefits from partnering with an analytics services firm.

While analytics services partners like LPA are indeed experts in various analytics tools and products, their greatest value lies in their ability to support organizations through implementation, training, staff augmentation, up-skilling, and knowledge transference.

Analytics Strategy

The pandemic has forced businesses into a phase of revolutionary digital transformation. With that digital transformation comes vast amounts of data. Most organizations understand that their data has value but are not utilizing the data.  It has been our experience that successful organizations leverage that data to decrease operational costs, increase revenue, and turn that data into useful analytics for a competitive advantage.

Engaging with an analytics partner like LPA to help build your analytics roadmap, whether you haven’t yet started the journey or are well on your way, LPA helps you avoid pitfalls and reach your goals quickly and efficiently. We can help you define or refine your vision to take your analytics program to the next level.

We help organizations design their analytics programs, including defining how analytics and AI fit into their overall strategy and integrates with existing systems. Once analytics are in place, an organization is well positioned to make countless other informed decisions.

As this McKinsey article states, organizations that used advanced analytics “reduce bias in decisions by calibrating the likelihood of your strategy succeeding before you allocate resources.”

Deciding where and how to implement analytics can mean the difference between projects that languish over extended timelines and rising costs and projects that move forward quickly with a high return on investment.

LPA has deep experience  to help you make the best analytics strategy decisions and confidently map out future priorities.

Implementation

The implementation phase of analytics is the most commonly requested time to engage with a service focused analytics partners. Businesses don’t often have the extra resources required to implement new technology in a way that will lead to maximized engagement.

LPA works with organizations to minimize implementation timelines. We have both the breadth and depth of experience with analytics to nforesee challenges and  tailor solutions to the needs and culture of the organization. We get there by learning the ins and outs of your organization, including its culture and appetite for analytics solutions.

Training

Companies investing in analytics need to maximize that investment. One of the best ways to do so is to also invest in training. Combine training with implementation leads to increased adoption and speeds up return on investments.

Many businesses contract with analytics services partners for ongoing training to ensure their team maintains and increases their knowledge of the capabilities of their analytics tools and can apply that knowledge effectively.

One of the primary differentiators among analytics partners is their support of the customer’s (your) learning journey. Trusted analytics partners like LPA are focused on building a long term relationship with your organization rather than simply providing products.

In addition to knowledge bases, LPA provides free training to its clients, as well as licenses proprietary training materials to clients to conduct their own training, and provides train the trainer options.

Knowing the intricacies of various analytics products can lead to new discoveries and applications. Our goal is the put our clients on path to success with analytics through training and ongoing support. We will teach you to fish and show you the best fishing spots.

Staff Augmentation

Special projects and hard deadlines often drive businesses to work with their analytics partner to beef up staff resources temporarily. They need extra help to accomplish their goals. Whether snapping in an analytics partner’s resources for portions of a project or having an analytics partner’s staff work alongside yours to foster knowledge transfer and identify potential new areas of opportunity, there are significant benefits to working side by side with our analytics experts.

Temporarily engaging with LPA for additional bandwidth on projects also naturally leads to other benefits like up-skilling and knowledge transference.

Up-skilling & Knowledge Transference

Trusted analytics partners like LPA have lower turnover than many corporate analytics teams. As organizations experience turnover in the highly competitive analytics space, LPA is frequently called upon to assist organizations with up-skilling and knowledge transference for new or less experienced team members or to develop new analytics applications within an organization.

We often find we can also revitalize excitement for analytics with mature teams that may have grown complacent with existing knowledge and resources. That renewed engagement often leads to lower turnover and more opportunities for career growth.

As a service focused analytics partner, LPA has worked with businesses at every phase of their analytics journeys. With big picture experience, we can foresee what obstacles may be coming up and what needs may arise. We can clarify the path forward when there are conflicting priorities or unforeseen challenges. Most importantly, we can ensure that businesses achieve the highest return on their analytics investments by providing training and applied knowledge to maximize the program adoption and ensure ongoing effectiveness.

For more information on service-focused analytics partners, see our guide on the 8 Characteristics of a Great Analytics Partner.

Guide: 8 Characteristics of a Great Analytics Partner

Topics: Analytics