Analytics Takes Hold -- 80% Two-Year Jump in Companies Gaining a Competitive Advantage From Their Use of Analytics
New Global Study From MIT Sloan Management Review and SAS Also Finds That Analytics Can Shift the Power Dynamics in Companies
(firmenpresse) - CAMBRIDGE, MA -- (Marketwire) -- 03/05/13 -- New research released today by and reports that 67% of companies surveyed say that they are gaining a competitive advantage from their use of analytics, up 15% from last year, and 80% from two years ago.
The report, "," from a global survey of more than 2,500 business executives, also identifies a group of companies leading the way in the analytics revolution -- "Analytical Innovators." Companies in this category report both strong competitive advantage and improved innovation from analytics. Analytical Innovators are significantly more likely to exhibit three characteristics: a widely shared belief that data is a core asset; more effective use of more of their data for faster results; and support for analytics by executives.
Another important characteristic of Analytical Innovators is their report of power shifts in their organizations. The more an organization uses analytics to build competitive advantage and to innovate, the more likely it is to say analytics has shifted its power dynamics. Analytical Innovators are four times more likely to say that analytics has shifted the power structure within their organizations than less analytically inclined companies.
"This is a significant finding, in that power shifts can be disruptive. They often call into question experience and intuition that managers and employees have built up over years," said David Kiron, executive editor for MIT Sloan Management Review. "Now, those who know how to marshal the data and put analytics behind their decision making are in a position of advantage."
The study identified two levels of sophistication below the Analytical Innovators. Analytics Practitioners, which represent 60% of respondents, have made significant progress in their analytics journey, but have not achieved the high level of competitive advantage and innovation from analytics that the top tier has. The Analytically Challenged, 28% of survey respondents, are less mature in their use of analytics and have not been able to derive as much value from it as the other groups.
"As we studied all three groups, we were able to clearly see the specific differentiators among the groups," said Pamela Prentice, chief research officer for SAS. "This enabled us to develop a framework for companies to evaluate their own standing, and to provide recommendations based on a company's current status."
The study's recommendations for the Analytically Challenged include:
Start improvements at the local level before trying to address organization-wide issues of technology latency.
To further collaboration, build ongoing relationships, facilitate discussions and share information of value to other departments.
Fight inertia by developing an executive communication strategy for your analytics use case, including ROI and recommended actions.
Go to to read the full report, or for more information on the .
A media company based at the MIT Sloan School of Management, 's mission is to lead the conversation among research scholars, business executives and other thought leaders about advances in management practice that are transforming how people lead and innovate. MIT Sloan Management Review captures for thoughtful managers the creativity, excitement and opportunity generated by rapid organizational, technological and societal change.
SAS is the leader in software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 60,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW®.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2013 SAS Institute Inc. All rights reserved.
To join the conversation on the study, "From Value to Vision: Reimagining the Possible
with Data Analytics," follow (at)mitsmr or (at)SASanalytics on Twitter, or join our groups on LinkedIn at and .
Image Available:
Steve Polilli
SAS
919-531-2979
Deborah Gallagher
MIT Sloan Management Review
617-253-3967
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 05.03.2013 - 09:00 Uhr
Sprache: Deutsch
News-ID 1203585
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
CAMBRIDGE, MA
Phone:
Kategorie:
Consulting
Anmerkungen:
Diese Pressemitteilung wurde bisher 157 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Analytics Takes Hold -- 80% Two-Year Jump in Companies Gaining a Competitive Advantage From Their Use of Analytics
"
steht unter der journalistisch-redaktionellen Verantwortung von
MIT Sloan Management Review (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
