INFORMS New Analytics Maturity Model Enables Organizations to Assess their Use of Analytics and How to Improve Performance and Impact

CATONSVILLE, Md., Nov. 19, 2014 /PRNewswire/ -- The Institute for Operations Research and the Management Sciences (INFORMS^®) – the largest professional society in the world for professionals in the fields of analytics, operations research (O.R.) and management science –has announced the official launch of a unique new Analytics Maturity Model that is designed to help organizations of all sizes scrutinize the way they use analytics across the business and determine how to improve their best practices over time. Whether an organization is in its initial stages of using analytics to improve business processes, or is at a more advanced level, the INFORMS Analytics Maturity Model approach helps assess strengths and weaknesses in three important areas of analytics: the organization itself, its analytics capabilities and its data and infrastructure.

The announcement was made at the INFORMS annual meeting, which took place in San Francisco from November 9-12.

In a survey, more than 230 business, government and academic representatives stated that the concept of "analytics maturity" is important or very important to their businesses (65 percent).  Yet, 82 percent of those same respondents admitted they do not have a plan, model or any other mechanism in place for measuring the efficacy or maturity of their analytics best practices over time. Some 47 percent of those surveyed attributed the lack of analytics maturity modeling to the fact they don't believe it will help their businesses thrive, while 21 percent said they cannot afford an analytics maturity model solution. Additional information about the survey is at https://www.informs.org/About-INFORMS/News-Room/Press-Releases/INFORMS-Analytics-Maturity-Model-Survey-San-Francisco.

"While analytics can be defined in different ways, at the end of the day what matters is the purpose of analytics and the application of the insights gained from data to help organizations make better decisions," said Aaron Burciaga, Senior Manager, Operations Analytics at Accenture. "The practice of assessing analytics maturity and setting goals to improve that maturity and use over time is paramount to ensuring success. The new INFORMS Analytics Maturity Model, designed by a number of analytics professionals across multiple industries, is the most comprehensive and easy-to-use model on the market today. And, because it's being offered free of charge, every organization can quickly and easily add it to their analytics best practices."

INFORMS Analytics Maturity Model (AMM) Features

The new INFORMS AMM drills down into an organization's use of analytics through a dozen peering questions that provide broad analytics understanding. It not only lets users score their organization's abilities in these 12 encompassing areas; it also lets them set goals and establish a timeline to reach a higher level of analytics maturity that will set their organization apart. Users can benchmark their maturity against others in their industry. They can review their level of analytics maturity visually to add to their understanding. And, they can use these tools again and again over time to help chart programs and reassess their organization's progress.

INFORMS Does the Math
After an organization answers the questions provided by the model, INFORMS will do the following:

• Calculate the overall score, the category scores, and factor scores
• Determine whether the scores are Beginning, Developing, or Advanced level, and what that means to the user's organization
• Help the user set new analytics goals, and achieve them
• Show the results in easily understood graphs and charts
• Enable the user to track progress over time

  Users Can Try the Model Before they Fully Commit to the Process

The INFORMS Analytics Maturity Model lets organizations choose the level of participation that's most comfortable for them. They can get the most out of the model by creating a profile and storing their responses. Alternatively, users can sign in as a guest and decide later whether to create a profile or leave the model without making any commitment.

Users Can Choose to be Quick or Comprehensive

Organizations that want to use the INFORMS Analytics Maturity Model can also select the depth of assessment that works best for them. The Quick Assessment lets users quickly see where they rank. Alternatively, the user can easily complete the Full Assessment that lets them access the model's full power, setting goals and obtaining advice.

Pricing and Availability

The new INFORMS Analytics Maturity Model is available free of charge to any user who is interested in gaining more benefits and ROI from their deployment of analytics. The AMM can be found on the INFORMS website at:
https://www.informs.org/Apply-Operations-Research-and-Analytics/Analytics-Maturity-Model.

About INFORMS

INFORMS is the leading international association for professionals in analytics and operations research (O.R.). INFORMS advances research, and develops and promotes best practices in analytics and O.R. through collaboration, knowledge sharing, and professional development. INFORMS helps business, government, and other organization professionals make better decisions to drive value to their organizations and society. Our certification program (CAP^®), highly cited publications, educational meetings and conferences, continuing education, industry and process focused networking communities, competitions, and recognition provide professionals with the knowledge and connections they need to achieve ever greater value for their organizations. Further information about INFORMS can be found online at www.informs.org or @informs.

SOURCE INFORMS

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