Creating A Good Product Strategy And Investing On Delivering High Quality And Consistent Output

The ability to compete on analytics is made possible by certain qualities some companies possess which allows them to collect and use immense amounts of data in a way that differentiates the success and practices of those companies amongst any other businesses. Davenport and Harris (2007) define analytics as “extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions” (p. 7). Therefore, to be able to compete on analytics, a firm must not only use the data to extrapolate and execute strategies and models in order to drive business, but also to use that data better and smarter than their competitors. This requires forward thinking and continual developments of current analyses and practices. With regard to Davenport and Harris’s criteria and concepts on the ability to compete on analytics, Old Navy LLC’s practices will be analyzed to find whether the company is able to compete, is a competitor, and how it competes, if at all.

Forecasting analytics will enable SYSCO to make appropriate upfront decisions and monitor customers as well as the industry. Extraction and data mining are also useful tools that will positively affect SYSCO’s decision-making process. Lastly, consulting support and employees’ training will facilitate the implementation of the new software in the company. For all these reasons, the use of BI at SYSCO can create a competitive advantage of the company in the industry. However, this competitive advantage depends on the competition – do the competitors use a similar software or by chance the same and do they already have a strong position in the market? Outperforming for example “U.S Food Service”, SYSCO’s main competitor, might be arduous if that company relies on a similar software and already has an eminent role in the

Stage 4, Analytical Companies – Analytics have been applied at an enterprise-wide level and are being used to drive decision-making, performance, and innovation, but results may not yet have been realized

We cannot all help but notice the steady decline in our market share for the past consecutive 11 quarters. Annual revenue has shrunk by 40% since we last saw a sales growth. Despite all the cost cutting measures that we have implemented we still continue to see a steep decline in sales. To make matters worse we do not know why, we do not know how and do not have any insight on what the competition is doing and how they are doing it. I’m proposing that we adopt a business intelligence system. This will allow us to see the state of our overall processes, and pinpoint areas of improvement or elimination. In short, business intelligence will allow us to better analyze the organization’s plans and results. I will provide us with insight into what is working correctly at the same time identifying potential problem areas

In the New Science of Winning book, (Davenport & Harris, 2007, p.7) analytics is defined as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.” [1]. To be successful in today’s competition, my current employer, DLL Financial Solutions Partner (DLL), is competing on analytics and fully aligned its core strategies to be supported by extensive statistical and computer based decisions. DLL is a global financial services company with operation in 36 countries, and its main focus is in the commercial equipment finance sector. In the following paragraph, I will explain DLL’s position in the industry and its ability to successfully compete on analytics with regards to its core business functions.

Company’s current position and ability to compete on analytics: I had worked for a healthcare delivery organization whose mission is to enhance the quality of life through improved health, prepare future health care professionals and discover new medical knowledge through research. It is the only Academic Medical center in the region and enjoyed a monopoly for quite some time. With the passage of the Affordable Care Act, the payment model changed from Fee for Service to Bundled payments. The organization was challenged to lower the cost of providing healthcare services without compromising quality of care or research. It had to invest heavily on implementing Electronic Medical Records and systems for reporting to regulatory agencies and insurance companies. The table below highlights the differences between Analytics and Business Intelligence. Note that the organization is in the early phase of implementing BI solutions.

The purpose of this literature review is to provide an overall perspective to the workings of business intelligence in a corporate environment. With the onset of massive technological gains in the past decade the implementation of business intelligence has grown accordingly. In the workplace the demand for business process improvement, responsive reporting, cutting edge forecasting, and internal business customer relations has triggered a need for a unit that understands the business needs as well as the impact on company technology.

The four attributes found in companies that compete on analytics and described in the book “Competing on Analytics” are the following: Supporting a strategic, distinctive capability; general use of analytics across the organization; executives embedded analytics as part of their working lives; and adopting a large scale ambition.

As a data consulting firm, it is tough not to consider my company as an analytical competitor. We regularly conduct webinars and trainings to stay ahead of this constantly evolving industry. We have teams creating algorithms that produce forecasting models within 99% confidence windows, while other teams are exploring different ways to enhance live data for every client. Data is “the primary driver of performance and value” (Davenport, Harris, p.36) for my company, but my client is not at the same level. They are deep within stage 3 and slightly moving towards stage 4. For the past two years, they have been using analytics as a guide for marketing

Many massive, successful companies ' sole purpose is to create user-friendly BI tools. For example, SAP, PeopleSoft, and JD Edwards are all powerful intelligence systems. These systems can help users with nearly any aspect of a company.

The potential benefits of business intelligence programs include accelerating and improving decision making; optimizing internal business processes; increasing operational efficiency; driving new revenues; and gaining competitive advantages over business rivals. BI systems can also help companies identify market trends and spot business problems that need to

The four pillars of analytics competition are distinctive capability, an enterprise approach, senior management commitment and large scale ambition. Distinct capabilities mean that organization views certain aspects of its business that sets it apart from competitors and as what makes it successful in the marketplace (Davenport, 2006). Without distinctive capability there is no analytical competitor, because of that there is no purpose for

analytics beyond commerce to healthcare strategies, hiring processes, and personal life (Bayan, 2015; Germann, Lilien, & Rangaswamy 2012; Tavana, Kennedy, & Joglekar 1996). Regardless of the industry, analytics have legitimacy absent context and provide insight to the working of a structure. Organizations could, and often dp argue, that awareness of the power of analytics is enough; however, for analytics to be of the greatest support, their merit and worth is not in the capture and analyzation of data but in the application of it within a specific context. Analytics provide insight that can be

What are the forces driving an organization to shift to analytics and be known as an analytical competitor? Analytics is when a particular organization uses large amount of data, predictive modeling, fact-based management, statistical analysis, quantitative analysis, and explanatory reasons in order to drive their business decisions and actions successfully (Harris 12). When an organization is trying to be analytically competitive, they are using analytics systematically and extensively to think outside the box to perform an execution to compete against other businesses.

Microsoft is a company that has built its momentum by empowerment. According to the company’s CEO what is different about Microsoft is that they make things that help other people make things. They are well poised to ignite a new revolution in which digital technologies democratize access to people across economic strata, organizations of all sizes, entrepreneurs, researches and students everywhere. To successfully deliver that promise of empowerment, Microsoft focuses on the reinvention of productivity and business processes. Microsoft aims to help customers be even more effective with their individual time, while bringing together the power of teams and entire organizations to drive business outcomes and success. They also focus on building the intelligent cloud platform that enables the world’s applications to become intelligent using the next-generation infrastructure, data and developer services.