Competing With Data & Analytics
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.
This article presents the highlights of our Special Report Analytics: The New Path to Value. The full report includes complete survey questions and answers.
To help organizations understand the opportunity of 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. (See “About the Research.”)
Among our key findings: Top-performing organizations use analytics five times more than lower performers. (See “Analytics Trumps Intuition.”) Overall, our survey found a widespread belief that analytics offers value. Half of our respondents said that improvement of information and analytics was a top priority in their organizations. And more than one in five said they were under intense or significant pressure to adopt advanced information and analytics approaches.