Big Data, Analytics, and the Path From Insights to Value

The Planet Data Center

Planet Data

The attempts by organizations to capitalize on information and apply analytics today and in the future is the focus of the 2010 New Intelligent Enterprise Global Executive Study and Research Project by MIT Sloan Management Review and the IBM Institute for Business Value.  The study found through a survey of about 3,000 executives, managers, and analysts:

  • Top-performing organizations employ analytics 5X more than lower performers.
  • 60% of respondents listed innovating to realize competitive differentiation as a leading business challenge and also concurred that their organization has more data than it can effectively use.
  • Nearly 40 percent of respondents cited a lack of understanding of how to use analytics to enhance the business as the primary impediment to widespread analytics adoption.

The researchers learned that organizations strongly agreed that the use of information and analytics distinguishes them within their industry and increased their chances of being top performers by twofold in comparison to lower performers.

Top performers doubled their chances of using analytics to direct future strategies and insights to guide day-to-day operations, and they make decisions based on thorough analysis at more than twice the rate of lower performers.  The researchers identified a five-point strategy for successfully deploying analytics-driven management and for rapidly generating value:

  • Concentrate on the largest and highest value opportunities.
  • Begin implementing analytics by recognizing the insights and questions to fulfill the big business goal and then identifying the data needed for answering those questions.
  • Embed insights in normal corporate communications to impel actions and generate value.
  • Retain existing capabilities while adding new ones.
  • Plan for the future using an information agenda.

This is how the best organizations are transforming themselves not only to be smarter but to perform smarter. And to win.

Is your company poised for the future?  Contact an Ember Carriers consultant and ask about the IntelliGap Assessment today.

Source: MIT Sloan Management Review (12/21/10) LaValle, Steve; Lesser, Eric; Shockley, Rebecca; et al.


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