Innovating With Analytics Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

In a recent data and analytics survey conducted by MIT Sloan Management Review in partnership with SAS Institute Inc., the writers found a strong correlation between the value firms say they generate using analytics and the number of data they exploit. Combining the answers to several survey questions, they identified five degrees of sophistication that was analytical, with those at Level 5 being most complex and advanced. These analytical innovators in Level 5 had several defining characteristics. They intended to exploit more data than other groups.

Secondly, there was a robust correlation among driving the competitive advantage and modernism with analytics and how powerful a company is at managing what the authors term "the info transformation cycle." This cycle refers to the procedure for capturing data, analyzing information, aggregating and integrating data, using insights to guide future strategy and disseminating information and penetrations. Respondents who fell into the Level 5 group also had a stronger demand for speed than other survey respondents. Eighty-seven percent reported the capability to procedure and analyze data more rapidly was essential. Utilizing speed fell into three separate regions: initiation, pricing strategy and customer experience. An additional fascinating finding from the examination concerned the cultural collision on organizations. Some respondents described that the usage of analytics is shifting the power structure within their organizations. Analytic innovators, as a group, tended to be more likely than other groups to say that analytics has begun to transfer the power structure in their organizations.

PUBLICATION DATE: October 01, 2012 PRODUCT #: SMR433-HCB-ENG

This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP