There is no doubt that Analytics 3.0 is something companies are making a huge investment in. GE is investing $2.5B on data modeling, with 200 data scientists that are embedding analytical sensors in jet engines, locomotives, and other equipment that can help drive predictive maintenance and discover operational issues more quickly, which will in turn improve safety.
I am heading off to Chicago this week to meet with HIMSS Analytics, our partner in launching the DELTA Powered Analytics Assessment. We are well underway with building the first cohort of healthcare providers to join the analytics benchmark, and we continue to reach more health care organizations in the final stages of implementing their electronic health record systems.
Over the past year, I have seen a very positive and encouraging shift in my discussions with organizations about the analytic talent that they employ. More and more discussions are about how to best structure an analytics organization as many companies have now found themselves with enough analytic professionals to make it necessary to figure out how to make the most of them. The speed of the shift from “should we hire anyone?” to “how do I organize all these people?” has surprised me.
Many companies are attracted to small “centers of excellence” (CoEs) that put a small number of people in a central coordination role, but leave the great majority of quants to fend for themselves in highly decentralized environments. This is appealing if you want to apply a gloss of coordination to a largely uncoordinated activity, but I don’t think it suggests a strong commitment to a well-organized analytical capability.