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Why Analytics Projects Fail
Data is the new oil and companies are starting to adjust to this new reality. Analytics projects are trendy and every manager wants to make data-driven decisions. We are in the age of data, not only because it has become cheaper to store data, but also because it has become easier to collect data. The total amount of data created, captured, copied and consumed worldwide is expected to grow rapidly, to exceed 180 zettabytes by 2025 according to Statista.
Despite the enthusiasm, my experience as a consultant working on Analytics projects has shown me that most of these projects fail. These failures are costly for companies which sometimes have to hire several consulting firms to solve the same problem to no avail. In this article, I will present the key reasons why analytics projects fail.
What is an analytics project ?
An analytics project is a project that involves the use of data and statistical techniques to gain insights and draw conclusions. This could involve collecting and organizing data, cleaning and preprocessing the data, performing analyses on the data, and communicating the results of the analyses to stakeholders.
Analytics projects often involve using specialized software and tools to manipulate and visualize data, and may be conducted for a variety of purposes, such as improving…
