Analytics & Strategy

Showing 1-20 of 86

What Sets Breakthrough Strategies Apart

  • Research Highlight
  • Read Time: 9 min 

Composing valuable strategies requires seeing the world in new and unique ways. It requires asking novel questions that prompt fresh insight. Even the most sophisticated, deep learning-enhanced computers or algorithms simply cannot generate such an outlook. Innovative strategies depend more on novel, well-reasoned theories than on well-crunched numbers.

Sustaining Advantage With Transitory Technologies

Just when you have your data collection and analysis systems in place, technology changes mean that your company needs new, updated systems. This is a problem for many companies — but it can also be an opportunity. Organizations that work with data from old and new equipment can learn more about the shortcomings that modern techniques have in this context and can gain advantage in developing tools that no one else has.

advertisement

The Coming Consumer Data Wars

  • Blog
  • Read Time: 4 min 

With tough new EU regulations on data security coming in 2018, global companies will soon be faced with a choice: Protect consumers’ data and reap the rewards of having access to it, or face the competitive consequences of consumer distrust. But companies caught unprepared for the change may lose the privilege of keeping consumers’ data altogether.

The Fatal Flaw of AI Implementation

Many managers are excited about smart machines but are struggling to apply machines’ limited intelligence. Indeed, computers can process data just fine, but to generate competitive advantage from machine learning applications, organizations must upgrade their employees’ skills. Companies will also need to redesign employee accountabilities to empower and motivate them to deploy smart machines when doing so will enhance outcomes.

Romantic and Rational Approaches to Artificial Intelligence

Organizations have made rapid gains in their ability to generate big data sets, but the ability of managers and executives to develop insights from that data has lagged behind. Data processing by artificial intelligence offers the prospect of speeding things up — but it also risks expanding the gap, as managers lack understanding of how AI reaches its data-based conclusions.

Participant Questions From the Recent Data and Analytics Webinar: Round 2

On March 15, 2017, MIT SMR held a webinar to share insights from our report, “Analytics as a Source of Business Innovation.” Many participants asked questions during the webinar that we didn’t have time for, so we decided to answer them in blog format instead. This post is the second set of responses.

advertisement

Questions and Answers About Analytics as a Source of Business Innovation

On March 15, 2017, MIT SMR held a webinar to share insights from our report, “Analytics as a Source of Business Innovation,” which summarizes our findings about the increased ability to innovate with analytics and its benefits across industries. Many participants asked questions during the webinar that we didn’t have time for, so we’ll answer some of them in blog format instead.

Analytics as a Source of Business Innovation

The 2017 Data & Analytics Report by MIT Sloan Management Review finds that the percentage of companies deriving competitive advantage from analytics increased for the first time in four years. Incorporating survey results and interviews with practitioners and scholars, the report finds that companies’ increasing ability to innovate with analytics is driving a resurgence of strategic benefits from analytics across industries. The report is based, in part, on MIT SMR’s seventh annual data and analytics global survey, which includes responses from 2,602 business executives, managers, and analytics professionals from organizations located around the world.

The Flood of Data From IoT Is Powering New Opportunities — for Some

IoT promised, and delivered, a data deluge. But is the data any good? Survey results from MIT SMR’s recent internet of things research suggest that it is — but the most value goes to those who got into IoT early and have years of experience under their belt. The message to those considering IoT projects: Don’t wait.

How to Monetize Your Data

Companies can monetize their data by improving internal business processes and decisions, wrapping information around core products and services, and selling information offerings to new and existing markets. Adopting any of these approaches, however, requires management commitment to specific organizational changes and targeted technology and data management upgrades.

advertisement

IoT and Developing Analytics-Based Data Products

Coauthors Thomas H. Davenport and Stephan Kudyba discuss the many ways for organizations to monetize data, including selling “data products” directly to consumers. A seven-step model shows the way real-life companies are developing those products and services.

Free Webinar, Dec. 1: IoT and Developing Analytics-Based Data Products

On Dec. 1 at 11 a.m. EST, join MIT SMR coauthors Thomas H. Davenport and Stephan Kudyba in a free, live webinar, where they will discuss their recent article, “Designing and Developing Analytics-Based Data Products.” The authors will look at the ways in which the internet of things, market forces, and evolving technology are changing how companies plan the development of data products. This new product category requires a reworking of the traditional phases of product development.

Lessons from Becoming a Data-Driven Organization

Organizations across the business spectrum are awakening to the transformative power of data and analytics. They are also coming to grips with the daunting difficulty of the task that lies before them. It’s tough enough for many organizations to catalog and categorize the data at their disposal and devise the rules and processes for using it. It’s even tougher to translate that data into tangible value. But it’s not impossible, and many organizations, in both the private and public sectors, are learning how.

Showing 1-20 of 86