Analytics leveraged to unlock new growth, profitability and performance.
For many companies, analytics is still a question. For high performers, analytics is the answer. High-performing companies —those that deliver continuous above-average business performance as well as above-average analytics performance—do analytics differently. In essence, the stronger a company’s commitment to analytics, the higher that company’s performance.
High performers see better results when they adopt analytics because they then adapt their enterprises to leverage analytics’ full power.
A survey conducted by Accenture and Massachusetts Institute of Technology (MIT), as part of the Accenture and MIT Alliance in Business Analytics, Winning with Analytics, illustrates how leading companies are winning with analytics.
HOW DO HIGH PERFORMERS APPROACH ANALYTICS?
High performers adopt analytics to support decision-making and adapt decision processes to embed analytics.
High performers make better and more informed decisions.
High performers allocate more of their technology investment to analytics, and are almost four times as likely to receive a significant ROI in return.
This approach to analytics reveals a compelling link between more complex analytics challenges and performance. High-performing companies are nearly twice as likely to use analytics in targeted areas.
The report reveals trends in how high performers are using analytics to:
Analytics Accelerates Smarter Business Decisions
High performers see better results when they adopt analytics. Once they adapt their decision-making processes they leverage the full power of analytics.
Embrace the Change Journey
They do a better job of overcoming internal resistance, functional silos and other barriers. Inability to change is cited as the top barrier by 55 percent of low performers (vs. 37 percent of high performers).
Commit to Future Investment
They are not only committed now, but they are willing to push more on analytics investment in the future (53 percent against 9 percent)..
Focus on Talent
They not only keep on looking for the right talent but they also manage it carefully: nearly all manage talent from end-to end and four out of five source talent externally.
Embrace New Technologies
High performers leverage a wider set of data across multiple sources. A majority use seven or more types of data in analyses; four out of five use advanced analytical techniques.
Navigate the Analytics Journey to ROI
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