The combination of an increasingly complex world, the vast proliferation of data and the pressing need to stay one step ahead of the competition has sharpened focus on using analytics within organizations. To understand better how organizations are applying analytics today, prioritizing their future investments and transforming insights into action, MIT Sloan Management Review in collaboration with the IBM Institute for Business Value surveyed a global sample of nearly 3,000 executives, managers and analysts. Based on our analysis of survey results, combined with interviews with academic and subject matter experts, this study offers recommendations on how organizations can bolster their analytics capabilities to achieve long-term advantage. At organizations in every industry, in every part of the world, senior leaders wonder whether they are getting full value from the massive amounts of information they already have within their organizations. New technologies are collecting more data than ever before, yet many organizations are still looking for better ways to obtain value from their data and compete in the marketplace. Their questions about how best to achieve value persist. Are competitors obtaining sharper, more timely insights? Are they able to regain market advantage neglected while focusing on expenses during the past two years? Are they correctly interpreting new signals from the global economy — and adequately assessing the impact on their customers and partners? Knowing what happened and why it happened are no longer adequate. Organizations need to know what is happening now, what is likely to happen next and what actions should be taken to get the optimal results. To help organizations understand the opportunity provided by information and advanced analytics, MIT Sloan Management Review partnered with the IBM Institute for Business Value to conduct a survey of nearly 3,000 executives, managers and analysts working across more than 30 industries and 100 countries.
1. In the performance self-assessment, other respondent options included “somewhat outperforming industry peers” and “on par with industry peers.”