Using Analytics To Become More Competitive
Once again Business Intelligence (BI) has been voted as the number one or number two initiative for IT in several difference surveys. Without doubt, BI is has a significant role in helping companies compete better for customer revenues. But just how can it be used? Is it simply a reporting mechanism or does it have a central role in your company’s competitive strategy? Most companies have some analytical capabilities – an actuarial role for insurance, a market research role in retail companies, lifetime analytics for financial firms – but these are generally invisible to the senior executives and have little impact on competitive activities.
For BI to be truly effective, it has to be elevated to the status of fact-based competing used by the entire enterprise. The idea of competing on analytics is not new. Tom Davenport has been lecturing and writing about it for years but there are still a woefully small number of companies that have embraced the concept. This presentation will demonstrate how these companies have successfully competed using their analytics.
What You Will Learn:
- Why traditional competition is not working
- What constitutes an analytical competitor
- The success factors that lead to an analytic competitor
Claudia Imhoff, Ph.D.