Minding the Analytics Gap Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

In a business environment that is increasingly dependent on data, most executives make crucial decisions relying on analyses that use data and statistical methods they do not fully comprehend. How can executives with limited analytics expertise become skillful users of analytics under such states? This question in paramount management dilemma as senior executives recognize the importance of analytics to creating business value.

Rather, the number one impediment mentioned by survey respondents involved converting analytics into business actions -in other words, making company decisions based on the results, not generating the outcomes themselves. With more access to data that is useful, businesses are increasingly using advanced analytical methods.

That, the authors assert, means there is often a difference between an organization's capacity to produce analytical results' and capability to implement them efficiently to company dilemma

Efforts can be carried out to make analytics usable for managers. A survey result show that 34% of the survey responders believe organizations equip employees of the company to understand business. Organizations may also systemically enhance infrastructure and processes; improved data quality for instance can help it become less difficult to turn data into competitive advantage.

Managers may also take steps to become savvier at understanding analytical results. Nearly half the respondents (49%) reported that their organizations train supervisors to make better use of analytics. Beyond training, other known steps include: requiring clear-cut explanations identifying trustworthy analytics professionals within the organization and asking detailed questions.

However, the authors' research indicates that, despite their efforts, supervisors continue to find it hard to keep pace with their organization's analysts for two motives: burgeoning analytics sophistication and competing demands for managerial attention. What's more, when an organization's ability to produce increasingly advanced analytics outpaces managers' abilities to understand, as a result discomfort is created -managers find they must make choices based on complex analytic insights that they do not yet completely understand. But, regardless of this suffering, these managerial decisions must be made. The authors conclude by indicating five means that managers can increase their comfort in consuming analytics.

PUBLICATION DATE: April 01, 2015 PRODUCT #: SMR522-HCB-ENG

Minding the Analytics Gap Case Study Solution

This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE