Innovative Analytics Boosts Organizational Edge

Innovative Analytics Boosts Organizational Edge

Innovative Analytics Boosts Organizational Edge

Leading Edge  67% of survey respondents feel that business analytics creates a competitive advantage for their organization, up from 37% in 2010.

The level of interest in business analytics has surged significantly in recent years, leading to a previously unobtainable competitive edge for those leading the way, according to a recent survey from MIT Sloan Management Review and SAS. The resulting report, "From Value to Vision: Reimagining the Possible With Data Analytics," separates high-level analytics performers from the also-rans, pinpointing the wide range of ways the former organizations use these tools to improve performance. Overall, top companies are better about challenging the status quo, strategizing priorities and staying ahead of technology trends. The big takeaway here: Professionals within all ranks will do their career a favor by backing up recommendations and decisions with solid statistical grounding. "Power shifts often call into question experience and intuition built up over years," says David Kiron, executive editor of the MIT Sloan Management Review. "Those who know how to marshal the data and put analytics behind their decision making are now at an advantage." An estimated 2,500 global business executives, managers and analysts took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.
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