Company 's Position Within The Pillars Of Analytics Competition

The Royal Bank of Canada using CRM and customer profitability tools to gain a competitive advantage in Canada's increasingly crowded financial services market.

Information – business intelligence – is no longer the exclusive domain of IT or research departments. From marketing and finance to management and operations, intelligence is applied strategically throughout the enterprise. And professionals who know how to gather and leverage it are the ones who will lead organizations, control decisions, and be relied upon to steer their companies.

From an operational viewpoint, banks are trying to incorporate technology in their product offerings, such as advanced banking and financial-related mobile applications. Innovations are made with the assistance of learnings from customer information and data analysis, which are an essential part of analytical CRM. The strategic view also suggests that banks are building a social presence on online platforms to enhance customer engagement and build a long-term relationships with their customers. The above approaches can clearly be identified when looking at CBA and NAB customer relationship management strategies. With its high-tech ATMS and state-of-the-art Commonwealth mobile app, CBA has full product leadership in the market, enabling them to have a competitive advantage when attracting new prospects or customer retention. On the other hand, NAB use customer intimacy as their core CRM strategy, cutting their product offerings in half and make consumers more centrally focused. They are very responsive in customers' needs and wants; and is the leading brand when it comes to customer

The four pillars of analytics competition are (1) Support of a strategic, distinctive capability, (2) an enterprise-level approach to and management of analytics, (3) Senior management commitment, and (4) Large-scale ambition (Davenport & Harris, 2007).

In order to be an effective analytical competitor, Davenport and Harris (2007) assert that firms must meet certain prerequisites. Those prerequisites are at least a moderate amount of quality data about the type of business that analytics will support, hardware and software, the commitment of managers to develop analytics, and executive sponsorship (Davenport and Harris, 2007, p.16). Analytics is about extrapolating new information and

The National Customer Service organization has enhanced its customer service tools over the past three years. The customer service tools have been consolidated from 10 separate platforms into 1 tool that is consistent company-wide. This consolidation lent itself to the National Customer Service Business Intelligence department having the ability to analyze agent performance from a “One Comcast” perspective. Specifically, the evolution of business intelligence and performance dashboard capabilities from vendors provided a unique opportunity for the company to expand insights from headquarters directly to the users in the field. The continued evolution of dashboard functionality over the past few years now provides additional

As I stated previously, I feel USAA has a really impressive grasp on the usage of analytics in most things they do. This includes, the hiring process and measuring a person’s answers in the pre-hire assessments (or personality quizzes), they also are very good at predicting their members’ needs and facilitating their financial security. USAA utilizes marketing and predictive analytics when creating marketing campaigns and commercials. The consistent message is definitely there, the message that states you are our reason for being and we are really the only viable option for you. USAA is also progressive, in that they do not conform to the” old school” mentality of: if it ain’t broke don’t fix it. USAA is always looking for ways to make processes more efficient for all parties involved.

2. Uniqueness - There is no single path to follow to become an analytic competitor, and the way every company uses analytics is unique to its strategy and market position. Accenture 's use of analytics has always been unique to acquire the market position. Accenture, in telecommunication industry uses bundle

Banks that can offer a multitude of consumer products and acquire customers through branches will continue to own customer acquisition and product distribution advantage over the coming years

My presentation is 90% analytical based. Without the analytical based facts, my recommendation would be deemed useless and irrelevant. As for the last pillar, large scale ambition, which states that the competitors base the success of their business on analytical based strategies. Yes, this is absolutely correct. Within the industry, the use of analytics is what helps drive forecasting and modeling to what the revenue will be in the next year.

Overall I have been impressed with our ability to compete on analytics. Serving over fifty partners gives us access

The article by Chandler (2015) “The Business Intelligence and Analytics Leader 's First 100 Days” hit a cord with me after a talk with a friend of mine who was just added to the BI team at his company. The new BI director at my friend’s company could have used this article to help him with his new role of BI director. My friend’s boss came in with prebaked ideas and thought he knew what the company needed from the BI department, but after 380 days the department is still feeling its way around in the dark.

Business analytics, in a nutshell, is usage of the type of data that can help one analyze a particular business situation and decide how to improve it. Instruments used for such an assessment include statistics, and both quantitative and qualitative analysis, as well as predictive and explanatory modeling.

“Competing on Analytics” defines an analytical competitor “as an organization that uses analytics extensively and systematically to outthink and out execute the competition.”(1) Business analytics is a new way for companies to separate themselves from their competitors. I recently completed an internship at the firm PricewaterhouseCoopers (PwC) and will work there full-time upon completion of this program. PwC uses analytics to help solve complex business issues and to identify opportunities across different industries. PwC is the largest professional service company in the world and is part of the Big Four accounting firms. PwC operates in over 157 countries with more than 750 offices throughout the world.(2) PwC is structured into three service lines, which are Assurance, Advisory and Tax. The assurance practice audits almost 30% of the global fortune 500 companies.(2) The advisory practice is mainly consulting activities that cover strategy, cyber security and privacy, human resources, deals and forensics. (2) These three practices generated $35.4 billion in revenue in 2015. (2)

This paper illustrates the concept of Business Intelligence as a stored knowledge of the company that can be developed and organized for better and effective decision making process. It synthesizes the concept of business intelligence and introduces the BI information system software that can harness all the needed information and data for decision makers. This process is placed in the context of mid size companies in Saudi Arabia for them to gain competitive advantage.