Big Data, Analytics and the Path From Insights to Value Harvard Case Solution & Analysis

MIT Sloan Management Review, in collaboration with the IBM Institute for Business Value, conducted a survey of more than 3,000 business executives, managers and analysts from organizations located around the world. to understand the challenges and opportunities related to the utilization of business analytics. Among the most important findings is that there is a clear connection between performance and the competitive value of analytics. Survey respondents who concurred that they were discerned by using company information and analytics were twice as likely to be leading performers.

Three stages, or capability levels, of analytics adoption emerged from the research: aspirational, transformed and seasoned. The post gives a comprehensive description of each, enabling organizations to identify where they fall in the continuum. Moreover, the writers contain techniques for each amount and suggestions for the top entry points, and measures to avoid the most frequent pitfalls. Based on insights from case studies, the survey and interviews with specialists, the authors also describe an emerging five-point methodology for executing analytics-driven direction and rapidly creating value -as leading businesses are managing to do. These comprise (1) focus on the biggest and best data precedence, (2) within every one of these priorities, start by asking questions, not by studying the available data, (3) embed insights into business processes to make them more understandable and actionable, (4) keep present capacities and tools while adding new ones and (5) develop an overarching information plan that allows decision making and strategy for the future.

PUBLICATION DATE: January 01, 2011 PRODUCT #: SMR372-PDF-ENG

This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP

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