How Organizations Are Competing On Analytics Essay

1785 Words Sep 18th, 2016 8 Pages
Organizations are competing on analytics not just because they can- business today is awash in data and data crunchers- but also because they should. At a time when firms in many industries offer similar products and services, and use comparable technologies, businesses are among the last remaining points of differentiation. And analytics competitors wring every last drop of value from those processes. So, like other companies, they know what products their customers want, the prices they are willing and ready to pay, and their spending patterns and other business parameters.
An analytics competitors do all of those things in a coordinated way, as part of the corporate strategy championed by top leadership and pushed down to decision makers at every level based on the fact that, employees are hired for their expertise with numbers or trained to recognize their importance are armed with the best evidence and the best quantitative tools. As a result, they make the best decisions: big and small, every day, over and over.
I work with FITC (Financial Institutions Training Centre). It is owned by the Bankers ' Committee, which comprises the Central Bank of Nigeria, Nigeria Deposit Insurance Corporation, all licensed banks and Discount Houses in Nigeria.
FITC is Nigeria 's apex human capacity building institution in the Financial SERVICE Sector. It provides solutions to the needs of its numerous clients through Training, Consulting and Research intervention and collaboration with…
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