MIT Sloan Management Review and IBM published a terrific study in late 2011 on the state of analytics. The study, Analytics: The Widening Divide, reports the results of a survey among over 4,500 managers and executives about the use of analytics in their organizations. (http://sloanreview.mit.edu/feature/achieving-competitive-advantage-through-analytics/)
The study divides organizations into 3 segments depending on their level of analytics sophistication:
Aspirational – Basic analytics users primarily supporting financial and supply chain decisions.
Experienced – More familiarity with analytics; use for marketing, operations, and future strategies.
Transformed – Integrating analytics into everyday tactical and strategic activities across business units.
The primary study finding showed the Experienced and Transformed groups were increasingly using analytics to create competitive advantage. Within these groups, three distinctive competencies were identified:
- Information Management
- Analytics Skills and Tools
- Data-Oriented Culture
In upcoming blogs I will discuss in more detail the competencies and how these more advanced users are improving performance with analytics.