Are you serious about using analytics for a competitive advantage?
Based on a global executive survey with 2,000+ respondents and interviews with more than thirty executives, MIT Sloan Management Review and SAS Institute Inc. report that analytics has become a common path to business value and through proper use, businesses can drive analytics for a competitive advantage.
Companies that incorporate analytics into their culture are finding success in the new digital era
The report discusses how organisations are now being challenged to step up their use of analytics, whether they are just getting started or are seasoned practitioners. The implications for industry competition are coming into focus—companies that incorporate analytics into their culture are finding success in the new digital era.
In new research released by MIT Sloan Management Review and SAS managers surveyed, report that an analytics culture is the driving factor in achieving competitive advantage from data and analytics, more important than any of the other capabilities measured in the study.
Companies must continuously innovate with analytics to maintain the edge
The new report, “The Analytics Mandate,” based on results from a global survey of more than 2,000 business executives and personal interviews with over 30 senior managers, also finds that companies must continuously innovate with analytics to maintain the edge it affords.
“We found that in companies with a strong analytics culture, decision-making norms include the use of analytics, even if the results challenge views held by senior management,” said David Kiron, executive editor for MIT Sloan Management Review. “This differentiates those companies from others, where often management experience overrides insights from data.”
The research also indicates that companies with a top-down mandate for fact-driven decision making are experiencing gains with analytics to a far greater extent than other organizations. Executive support, leading by example and evangelizing “a lot of little wins” helps to both push and pull employees towards an analytics culture.
This study, now in its fourth year, suggests that analytics is no longer a new path to value; it’s a common one. Access to useful information continues to increase, and the vast majority of respondents are investing in their analytical capabilities to leverage their data.
Biarri helps to turn your data into a competitive advantage
Biarri can help to take a repository of data and knowledge and turn it into a greater competitive advantage for your business. By taking a snapshot of your historical data, we can create custom software within 90 days which gives you the power to make better, data driven decisions. We develop bespoke solutions to Advanced Planning and Scheduling, Workforce Management, Supply Chain Optimisation and Business Analytics problems, across multiple Industries and value chains.
Contact us today to see how we can help turn your data into a competitive advantage!