Vision Strategy and Execution

Any data analytics initiative should align with and contribute to the success of the organizational vision.

Here is a Vision-Strategy-Execution-Measurement that you can use to define the data analytics practice details for your organization.

Organizational Vision - What is the vision of your organization? This is typically setup by the board and leadership team in the planning meetings and then communicated to the rest of the organization to ensure that the initiatives are designed to support them.

Functional Vision - This is the vision of each of the departments, whether it is marketing, finance, lending, deposits, operations, or data analytics. The vision of each of these functions should support the organizational vision.

Strategy - Define the high-level strategy for each of the functions (in this case data analytics) in support of the functional vision and organizational vision. This is essentially what you are going to do and also not going to do in support of the vision. Strategy brings the essential focus to help the team work on small number of meaningful initiatives that can help them succeed.

Execution - List the initiatives (that are aligned with the strategy) that you are going to execute to help deliver on the vision.

Measurements - How would you know if you are going in the right direction? Are you achieving the short and long-term goals? Measurements should be objective and ideally measure the outcomes and not the activities.


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