Filed under: #mktgcloud, Analytics, Datarati | Tags: Accenture, Analytics
Companies are operating in a sea of their own data. Many are just treading water, but some companies are swimming toward new forms of competitive advantage by using business analytics.
These analytical competitors focus not just on using analytics for better data access and reporting, but on using insights gleaned from predictive analytics as a discipline to make more effective decisions that deliver better outcomes to the bottom line and drive high performance.
“High performers are five times more likely than their competitors to view analytical capabilities as core to the business,” says Dave Rich, managing director, Accenture Analytics. “For the many others seeking high performance, the opportunities to move in that direction by making analytics a competitive discipline are substantial.”
Most companies say they recognize the inherent value locked in their warehouses of data: More than 70 percent of the 600 blue-chip companies surveyed by Accenture in the United States and the United Kingdom last year said senior management teams were highly committed to analytics and fact-based decision making. But many executives said that their companies still failed to use analytics to capitalize on their information and gain competitive advantage.