Innovating With Analytics Harvard Case Solution & Analysis

In the most recent data and analysis survey conducted MIT Sloan Management Review, in partnership with SAS Institute Inc, the authors found a strong correlation between the value of the company say that create with the analyst and the amount of data they use. Combining the answers to several research questions, they identified five levels of analysis, with those at level 5 is the most challenging and innovative. These analytical innovators in Level 5 were several defining characteristics. First, they tend to use more data than other groups. In fact, they were three times more likely than 8% of those respondents who fall into the category 1 level, to say that they used much or all of their data. Second, there was a strong correlation between the major competitive advantage and innovation in analytics and how well the company is managed by the authors of "conversion cycle of information." This cycle refers to the process of data collection, information analysis, consolidation and integration of data, using the ideas of the future strategy for the management and dissemination of information and ideas. Respondents who are in Level 5 category are stronger need for speed than the other respondents. Eighty-seven percent reported that the ability to process and analyze data quickly was important. Using the speed fell into three separate areas: customer experience, pricing strategy, and innovation. Another intriguing conclusion from the survey involved cultural impact on the organization. Some respondents reported that the use of analytics is changing the structure of power in their organizations. Analytical innovators, as a group, are more likely than other groups to say that the analysts have started to shift the power structure of their organizations. "Hide
by David Kiron, Renee Boucher Ferguson Source: MIT Sloan Management Review 5 pages. Publication Date: October 1, 2012. Prod. #: SMR433-PDF-ENG

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