prtk.nayak
Prtk Nayak
Business Analytics is proving more and more to be a source of competitive advantage. To be specific this source is called Competitive analytics. The three characteristics of competitive analytics are Data Orientation, Information Management and Analytics Expertise.
Now there are three elements of a data oriented culture:
1. Analytics is used as a strategic asset.
2. Management supports analytics throughout the organization.
3.Insights are widely available to those who need it within the organization.
Experienced organizations are taking one of the two distinct approaches to Analytics. Just under half of them are busy developing their information management competency with a focus to create an enterprise wide information platform to broaden and support the consistent use of analytics. This bunch is called collaborative organizations.
Slightly more than half of these organizations are engaged in developing analytics expertise, deepening of analytics skills within Operations, Finance and marketing to optimize and predict specific business processes.These guys are called Specialized Organizations.
The collaborative ones are 3 times more likely to use analytics to guide future strategies, 2 times more likely to use analytics in day-to-day operations, 3 times more likely to deliver insights to customer facing employees to drive sales and productivity and 2 times more likely to provide insights to anyone who needs it inside the organization. Savvy??
Specialized organizations are now using predictive modelling techniques :SugarwareZ-265: to create simulations, prototypes and scenarios to better understand how changes from internal investments and external forces can affect their cost, revenue and profit.
Now there are three elements of a data oriented culture:
1. Analytics is used as a strategic asset.
2. Management supports analytics throughout the organization.
3.Insights are widely available to those who need it within the organization.
Experienced organizations are taking one of the two distinct approaches to Analytics. Just under half of them are busy developing their information management competency with a focus to create an enterprise wide information platform to broaden and support the consistent use of analytics. This bunch is called collaborative organizations.
Slightly more than half of these organizations are engaged in developing analytics expertise, deepening of analytics skills within Operations, Finance and marketing to optimize and predict specific business processes.These guys are called Specialized Organizations.
The collaborative ones are 3 times more likely to use analytics to guide future strategies, 2 times more likely to use analytics in day-to-day operations, 3 times more likely to deliver insights to customer facing employees to drive sales and productivity and 2 times more likely to provide insights to anyone who needs it inside the organization. Savvy??
Specialized organizations are now using predictive modelling techniques :SugarwareZ-265: to create simulations, prototypes and scenarios to better understand how changes from internal investments and external forces can affect their cost, revenue and profit.