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Nov 9, 2020

Putting analytics at the core and improving its implementation.

Many firms are looking for analytics solutions that can improve market sensing, marketing decisions, or operations. From better predictive models to help commercial teams improve their hit rates, to novel approaches to gather customer intelligence, or optimization models to reduce operations costs and increase speed, analytics are here to stay. However, when talking with firms searching for new analytics solutions, many refer at least one of the following challenges:

  • Our people do not know where to start, we would need a push to ensure they have the creative energy needed to uncover great use cases for analytics.
  • We have no shortage of ideas, but they are “all over the place”, we need to gain focus and organize our ideation efforts.
  • We can’t communicate our analytics ideas to senior management in a persuasive way, and thus, we lack their support for implementation.
  • Our analytics folks have generated many seemingly great ideas, but they have not validated them, and so they do not connect well with the needs of the business.
  • We are great at generating analytics ideas, but we are not very good at implementing them. We should have considered implementation issues earlier

Analytics Growth Flow: MTI2 and LTP Labs join forces to boost your analytics innovation

To solve these challenges, MTI2 and LTPlabs have joined forces and created a partnership program called “Analytics Growth Flow” (see Figure below).

The key differentiator of this program is that it offers a fast, end-to-end approach that marries ideation on new analytics solutions with implementation of those solutions to ensure business impact.

MTI2, with nearly two decades of experience in innovation and ideation trajectories, ensures productive and focused ideation at the start, leading to a solid business case capable of persuading and getting buy-in from management. Implementation is on the mind of our facilitators since day 1. LTPlabs facilitators then help convert these business cases into a validated roadmap for implementation and, if desired, partakes in the design and deployment of chosen analytics solutions, ensuring a quick turnaround from idea to implemented solutions.

In short, the Analytics Growth Flow program has four main goals:

  1. Leverage state-of-the-art tools and experienced facilitators to ensure productive ideation for analytics solutions focused on the business needs of your firm.
  2. Support the development of validated business cases and persuasive pitches to gain the support and buy-in from senior management.
  3. Robust validation of the technology and economic assumptions of a business case, to mitigate project risk. For this we use a simulation methodology that allows anticipating results and obstacles.
  4. Define a concrete and clear roadmap for implementation, with a clear “action plan” that details the “what, who and when” of implementation.

We believe that this collaborative process can bring benefits in three main areas:

  • Marketing analytics with a strong connection between analytics and business
  • Better models to gather customer data and generate customer insights
  • Better operational models leading to significant cost reductions and process improvements

As the figure above shows, the process foresees approximately four days of remote workshops for the ideation, customer value proposition and beta business modeling, which end with a robust business case and a pitch to management.

This first part is followed by a two-week intensive validation trajectory, with a mix of initiatives aimed at testing both technology and market assumptions highlighting hurdles that must be addressed, and ending with a clear roadmap for deployment.

Even though we have designed this standardized process, it is always possible to tailor each of the steps to befit the needs of your particular company. Please don’t hesitate to contact us to learn more.

Throughout the whole process, expert facilitators from MTI2 and LTPlabs will monitor the progress of your ideation teams, guaranteeing a seamless transition from idea to business case, and from business case to deployment.

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