In an era of cost-cutting, analytics often faces budget scrutiny despite its potential value generation; business value inventories can help quantify and communicate this value.
Despite efforts to conduct business value inventories, quantifying the actual value generated from analytics remains a challenge, with respondents often providing vague answers.
Many analytics users struggle to quantify their contributions, often stating generalized responses that do not help in measuring actual business value from analytics.
A more effective approach to measuring business value should focus on specific actions and detailed descriptions from users, rather than only on numeric claims.
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