Competing On Analytics
Davenport argues that businesses can optimize a distinct business capability via analytics and thus better compete. He identifies these characteristics of an organization that are apt to compete on analytics:
- One or more senior executives who strongly advocate fact-based decision making and, specifically, analytics
- Widespread use of not only descriptive statistics, but also predictive modeling and complex optimization techniques
- Substantial use of analytics across multiple business functions or processes
- Movement toward an enterprise level approach to managing analytical tools, data, and organizational skills and capabilities
Read more about this topic: Business Analytics
Famous quotes containing the word competing:
“The idealist’s programme of political or economic reform may be impracticable, absurd, demonstrably ridiculous; but it can never be successfully opposed merely by pointing out that this is the case. A negative opposition cannot be wholly effectual: there must be a competing idealism; something must be offered that is not only less objectionable but more desirable.”
—Charles Horton Cooley (1864–1929)