There is no doubt that business intelligence – or analytics, as it is called nowadays – offers a very important strategic lever at this moment in time when the information revolution and digitization are in full swing.

At the corporate level, who is ultimately responsible for analytics in your organization? Whenever I ask this question I am usually met with answers like "No one", or "I don't know". If I do get a name, which often varies according to the executives I ask in the same organization, I'm told: Finance, Marketing, Sales, etc. This is not good. How can analytics become a fundamental strategic component of an organization if there is no clear owner and leader for the transverse analysis of the company?

Faced with the growing sophistication and volume of information, companies have no choice but to organize and increase their analysis teams. Analytics comprises a wide variety of capabilities, ranging from the more strategic (dashboards, demand forecasts, etc.) to the more operational (logistical operations, commercial practices, cash flow statements, etc.), and it is common to find talent and "bits" of analytics in nearly every level and department. As a result, different parts of the organization have had their own successes with analytics. However, these talents still tend to work completely on their own and in total isolation from the rest of the organization. They never collaborate and often don't even know each other. Well, now the time has come to connect these groups, to turn analytics into a strategic business practice and assign executive leadership to supervise it.

The title is irrelevant. What is important is the role played by the incumbent of the post. An organization might have a Chief Analytics Officer (CAO) or a Vice President Analytics. The point is that someone at the corporate level has to take ownership of analytics and have access to senior management in order to drive analysis initiatives aligned with the company's strategic priorities. The CAO must report to a senior executive whose scope naturally extends to every business unit that has analytical needs, such as Strategy, CFO, CMO and COO, etc.

It is often easier to decide to whom a CAO should not report. For example, many organizations attach great importance to marketing analysis, but if the CAO reports to the CMO other business units like product development or customer services may feel they are not receiving equal treatment.

I am not suggesting that the CAO should consolidate all the analytics professionals within a central team. Successful teams should be left in place, in the units where they work well. The key is for the CAO and his/her corporate team to provide additional support to the other teams within the organization in order to ensure the efficiency of the expenditure and effort, to guarantee the impact of the analytics performed, and to lead any innovative analytic initiatives that present themselves.

As predictive analytics in particular and analytics in general continue to impact on organizations and change the way that business is conducted, it is imperative that companies provide the appropriate emphasis and leadership to guarantee success. An analytics revolution is brewing, and the creation of a CAO role is a way of demonstrating a firm commitment to join it.

If as CEO you cannot say that you own the analytics in your organization, you are probably missing out on countless business opportunities. The proof? Just look at where the successful companies of today place analytics, and consequently customer orientation: at the center of their organizations.