Data & Analytics

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Lessons From Analytical Innovators

In a webinar recorded in March 2013, the speakers present findings from the recent global study they co-authored, “From Value to Vision: Reimagining the Possible with Data Analytics.” In their study, they identified leaders of the analytics revolution they call “Analytical Innovators.” These companies share three key characteristics: a widely shared belief that data is a core asset; more effective use of more data for faster results; and support for analytics by senior managers shift power and resources to those who make data-driven decisions.

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Competitive Advantage with Data? Maybe … Maybe Not

IBM chairman, president and CEO Virginia Rometty has been making the rounds of late — in February she spoke at the annual IBM investor briefing; in March to the Council on Foreign Relations — espousing a bold new future built upon big data.

At the investors’ meeting, Rometty said that big data — defined as data streaming in to the worlds’ organizations from cloud, mobile and social networks (and presumably mingled with enterprise data) — will be the basis of competitive advantage for every company and every industry for the next decade.

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Analytics and Intuition: Finding Equilibrium

Just before the New Year, New York Times writer Steve Lohr wrote a blog, Big Data is Great. But So Is Intuition, which addresses a question we here at MIT Sloan Management Review have been researching for the past year: With the growing potential of data and analytics, where is the shifting line between analytics and intuition?

Image courtesy of Flickr user MegMoggington.

Team GB: Using Analytics (and Intuition) To Improve Performance

Becoming an elite athlete — or coaching a team of this rarified breed — has as much to do with talent and skill as it does with experience and intuition (not to mention some serious hard work). And data is increasingly part of that mix at the highest echelon of sports: the Olympic Games. At Team GB analytics are used to both monitor the performance of athletes and to predict how well a team will perform. But what could the future hold? Evidence-based coaching — and training.

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From Value to Vision: Reimagining the Possible with Data Analytics

Based on a global executive survey with 2,500+ respondents and interviews with more than two dozen executives and academics, MIT Sloan Management Review and SAS Institute Inc. report on the distinctive characteristics and habits of companies that are very effective at using analytics to compete and innovate. This report offers an in-depth analysis of Analytical Innovators, the early leaders in the analytics revolution that is changing how many companies are managed.

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Organizational Alignment is Key to Big Data Success

Fortune 500 companies are rushing to make big data investments. Who is leading this charge? What are they doing? What are best practices and which practices should be avoided? A recent survey of C-level and function heads from Fortune 500 companies offers a unique glimpse into how the captains of industry are thinking about big data and how their companies are changing because of new insights gleaned from big data analyses.

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Sensing the Future Before It Occurs

GE believes companies will boost productivity and profits by using intelligent sensors and analytics to predict when parts and manufacturing lines will fail. This will smooth operations and accelerate product development. GE is investing in its operational use of intelligent sensors and hiring software developers to create better algorithms for analyzing huge amounts of data. William Ruh, head of GE’s global software development center, discusses the reasons behind GE’s investment in new technologies and why it thinks these will transform the global economy.

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Image courtesy of Flickr user prayitno.
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Can Sensors Fuel Productivity Growth?

The Internet Revolution has so far not produced the kind of long-term productivity growth seen during the Industrial Revolution. Digital technology drove U.S. productivity growth above three percent annually only between 1996 and 2004. Since then, productivity has fallen to about 1.6 percent a year. General Electric argues that productivity growth will jump again as the industrial Internet emerges, connecting machines like turbines and jet engines to factories, and using analytics to make better decisions about maintenance and production.

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Video: Big Data and Analytics Right Now

Erik Brynjolfsson, director of the MIT Center for Digital Business, talks about the big data revolution with Tom Davenport, who helped get that revolution started with his seminal article “Competing on Analytics.” Their discussion illuminates what’s different about big data and how big data is changing management and the way businesses run.

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Business Quandary? Use a Competition to Crowdsource Best Answers

Top data scientists often share three characteristics: they are creative, they are curious and they are competitive. Anthony Goldbloom, CEO of Kaggle, a company that hosts data prediction competitions, has figured out how to tap all three of these characteristics to help companies crowdsource their analytics problems.

Image courtesy of Flickr user kk+.

Location Analytics: Bringing Geography Back

Remember geography lessons in school, painstakingly memorizing the longest rivers, cultures of various regions, the state capitals? For most of us, those lessons are in the past. But in the world of big data analytics, geography is making a comeback.

The relatively new market of location analytics is expanding the uses of more traditional geographic information system (GIS) technology to include social, geographic, physical and emotional indicators that help organizations better predict trends

Veronika Belokhvostova, head of Global Business Analytics at PayPal.

Mining Data at PayPal to Guide Business Strategy

“The kind of people we hire want to know that their work is not gathering dust on some shelf, but has a real impact on the company,” says Veronika Belokhvostova, head of Global Business Analytics at PayPal. And indeed, business analysts there are collaborating with business leaders to answer the “what should we do next?” question.

Showing 41-60 of 111