You Need An Analytic Plan
The Next Stage Of Business Planning
All businesses are supposed to start with a plan. Many do. Many still fail. But this isn’t a sad story… well, it shouldn’t be.
This also is not an article about your business plan. That is an age old process with plenty of experienced practitioners. This is an article about the next stage in your business’ development.
Most Often, It Starts With A Problem
I only wish my clients called before they had a problem. They almost never do. To be honest, it has been difficult getting many to realize that fractional analytic support is both a real and meaningful thing. Even that first call starts with, “I am not sure you can help but...”
It is quickly followed by, “we have a problem”. What follows is almost always a highly typical issue that is best described by the term data monetization. If only more people understood what that really meant…
“So, what’s the plan?”
There never seems to be one. I suppose that is why they called me. If you are keeping score, this may not seem like “the next stage” in a businesses’ development. It isn’t, in theory. In practice, it is often how we get there. What follows is a lot of planning, but each step can be done quickly — if you know how.
Steps In Any Analytic Planning:
A Discovery Plan
Simple. Straightforward. Strategic. You need to figure out if this issue is worth investing in. Define the problem. Define the opportunity. Is it a revenue driver? An expense save? A growth tool? A means of stemming attrition?
A Test Plan
So many people forget to be iterative. Don’t make that mistake. You need to develop key assumptions, KPI, and an iterative strategy for testing them. Note — this is not the investment! If the price tag is scaring you, you are doing it wrong!
A Development Plan
Once the testing is complete, you will want to read the results and develop a solid proposal for actual solution. You should be clear on the opportunity, the cost (or investment), and the timing. The development plan is not a single path to success, you should be developing alternatives, considering priorities, and making trade-offs.
An Execution Plan
This step is as much a project management step as an analytic one, but if an analyst led you here — they should develop this plan as well. It is a roadmap for execution — complete with milestones, timelines, and decision points. Analysis does not end with a decision to act, so keep measuring.
An Education Plan
Finally, you want to develop an education plan. Whether you resourced this internally or with outside assistance, you want to be sure that insight is shared broadly in your organization. Education assures accountability. It guarantees documentation. It should not optional (or expensive).
Five Simple Steps
And yet so many organizations do them so poorly. Ever try to Waltz or Tango? Yeah, not my thing either… but if you watch a real expert, it is elegant — even engaging.
You want to enlist someone who has done the dance. Better yet, someone who routinely teaches it to others. You should not be wasting your time with those who are effectively free-styling.
An analytic plan is an organizations learning plan. It is a development plan. It is a growth plan and a maturity plan. When done well, by real experts, an analytic plan will propel you to the next level. It will save you a lot of time and money. It will feel elegant — even engaging.
“So what’s your plan?”
Don’t wait until you have a problem. Engage in analytic planning now. Corsair’s Analytic Planning Service makes the process both affordable and proactive. For a cost as low as $500 per month, any company can invest in thoughtful planning and profitable growth.
