Business Analytics - Competing On Analytics

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