Competing on Analytics The new science of winning.

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Presentation transcript:

Competing on Analytics The new science of winning

Author PhD Sociology Harvard University Babson College - Dir. of research Mgmt Info. Tech. Named one of the top 25 consultants in the world by Consulting Magazine

Higher Performance Frontier for using data to make decisions had shifted dramatically Netflix Progressive Capital One

What are Analytics? Optimization - What’s the best that can happen? Predictive Modeling - What will happen next? Forecasting - What if these trends continue? Statistical Analysis - Why is this happening?

Why Compete on Analytics? High Performance business practices are among the last remaining points of differentiation. Unique geo-location advantage doesn’t matter in global competition Utilizing Analytical data can increase revenue and or improve business processes

4 Characteristics to be analytically sophisticated Analytics must support a strategic, distinctive capability Approach and management of analytics must be enterprise-wide Senior management must be committed to the use of analytics The company must make a significant strategic bet on analytics-based competition

“In God we trust; all others bring data” Analytics do not work by themselves Require CEO-level sponsorship Decisions should not be based on intuition

Five Stages of Analytical Competition Analytical Competitors Analytical Companies Analytical Aspirations Localized Analytics Analytically Impaired

Questions?