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While many companies are beginning to cultivate benefits from their use of analytics, organizations that are getting the most value have a distinct approach. In this section, we introduce the Analytical Innovators, contrast their behaviors with other companies and discuss how these differences matter to organizational performance.
The concept of Analytical Innovators emerged when we combined responses to two of our survey questions, one about creating a competitive advantage with analytics and one about using analytics to innovate.15 We then grouped respondents into three distinct levels of analytics sophistication according to how they responded to both questions. (See Figure 2: Analytical Innovators — A Small Group of Analytics Leaders.)
Figure 2: Analytical Innovators — A Small Group of Analytics Leaders
Respondents are at various levels of analytics sophistication.
Analytical Innovators are those respondents who strongly agree that analytics has helped improve their organizations’ ability to innovate and say that analytics has helped create a competitive advantage to a great extent. Analytics Practitioners are utilizing data, mostly to address tactical and operational issues, but are not innovating with analytics at the same level as Analytical Innovators.