Understanding analytics center of excellence (CoE)?
Imagine your business has put a new data warehouse into use and used an enterprise analytics solution to generate new reports. You invested significant resources in the project but it is quite challenging for your employees to adopt the new solution and the insights it offers. Besides, there is no centralized platform where employees can make modification requests and learn more about the reports.
The tech stack is great and the business concerns are addressed, but there are some aspects that aren’t working. Maybe your employees don’t know who to seek help with challenges or where to look for definitions of KPIs. You start to wonder how you’ll sustain project effectiveness and who will be responsible for keeping up the momentum of the project.
Every time your company uses an analytics platform, you put resources (time, people, and money) into creating your infrastructure. Evidently, the analytics journey to becoming a data-driven organization is a marathon. How do you ensure that you are extracting the maximum value possible from the available resources in the long run?
Choosing and implementing the right tools plays a significant role in making your analytics initiatives successful. You can create an analytics center of excellence (CoE), also known as an analytics hub or a BI competency center, to maximize your investment and the value of your data (BICC).
What is a Center of Excellence?
A Center of Excellence is a centralized unit of dedicated professionals on a mission to streamline all of an organization's analytics initiatives. Imagine a highly competent group of professionals who are well-acquainted with your company's operational processes and data sources. This team is equipped with the right skills & abilities to leverage the data and steer all your efforts in the right direction. A CoE is about your company, the procedures and services you offer, and the individuals who will be in charge of carrying out the duties that will determine how you manage your analytics solution (s).
Your CoE establishes ownership of the solution and establishes the adoption plan by combining the team's existing business, IT, and analytics skills. It's everything you require in your business to make a real impact.