Lighthouse 's Distinctive Capabilities Are Trustworthiness And Service

Just like in baseball there are large and small businesses. Businesses have to make decisions, decisions that will help the business in the long run. By using analytics business can measure their performance to know where they stand financially and economically. Numbers are very important in a

Before our clients can get to a point of having a dashboard of KPI’s and metrics, it’s imperative to understand the problems and the reasoning for diving into analytics. As a firm, why do you want to engage in analytics? Do you have the full support of the firm to include analytics in the decision making process? What are some of the issues that can be improved through the measures of data? What are you specifically trying to accomplish? What is the quality of the data being measured? These are all key questions that need to be answered before engaging in any sort of analytics and reporting. It’s important to remember that a firm should not do analytics, for analytical sake. There should be a reasoning and number of problems that could be solved through analytics. If not completed properly, the use of analytics could be a huge drain to cash flow and influence decisions that could have a negative impact on the firm.

And yes, this information is valuable. But these analytics tools alone can’t offer the insights that drive successful business decisions. This level of analysis has to come from a certified “analytics ninja,” a person or team of people that can dig through the haystack to find the insights that move the needle. Even if you spend hundreds of thousands of dollars on the best analytics products out there, if you don’t have some certified analytics ninjas on your team, you’re just blindly wasting your cash. Essentially, your Web analytics tool is only as powerful as the person using it.

In today’s companies, the analytics software plays the important role and guides the future activities to a great extent.

L L Bean has the ability to use analytics for point advantage and know what to do to get to next level, but still lack the ability to define competition hence it’s in Stage 4 of the analytical competition pyramid. Few examples to illustrate its Stage 4

Sumangla Rathore, Avinash Panwar, Prakriti Soral (2014). Critical Factors for Successful Implementation of Business Analytics: Exploratory Findings from Select Cases. International Journal of Business Analytics and Intelligence, 2(2), 14-15.

CLM Designs Unlimited is the premier design firm of the Southeast United States. They have over 2,000 clients and growing. The clientele is not just in the states but does include overseas customers as well. There have been instances where they have been unable to locate information at the time when it was needed. This is not to say that the information is not accessible; but, there is a need for the overall information system to provide insight into utilizing business analytics into the business. Business analytics is used in order to provide awareness into the market that a particular business is involved. It can be used to report on historical data as well as providing information related to future events by adding value and insight (Stubbs, 2013).

The first stage is analytically impaired. This stage is the stage where the data is flawed or the systems are not integrated well. Though I was not there for this, I have heard what happened a few years ago, and still there are a few current instances, when Comcast decided to cut down on the number of databases and included them all in one area. This was not executed well, since employees were still using the older data sources to run their analyses with. This left their analyses to be incorrect because the data they were using from the data systems were incorrect.

Business Analytics and Reporting is one of the key focuses of the Business Advisory department, which I am currently apart of. You could say that from an external perspective with our clients, the Business Advisory department of AC Lordi Consulting has fully embraced the needs for analytics to guide and strengthen the decision making of our clients. When clients are facing challenging financial decisions, the Business Advisory department is able to provide the knowledge and expertise beyond the capabilities of their own organization. AC Lordi Consulting has the ability to provide highly skilled professionals in analytics that will develop the proper framework and methodology to have our clients embrace analytics and reporting. AC Lordi Consulting provide a structured framework to answer all the relevant questions, suggest KPI’s that can be measured in the industry and implement target ranges where KPI’s should fall within.

These stages can describe the path that an organization can follow from having virtually bi analytical capabilities to being a serious analytical competitor.

Depending on how much or how little a company has of these attributes defines what stage a company is competing on. There are 5 stages; analytically impaired, localized analytics, analytical aspirations, analytical companies, and analytical competitors (Davenport & Harris, 2007). The above statement, and statement soon to follow, from the CEO indicate the company is headed towards a stage 2 or 3 competitor, but has been a stage 1 for a very long time. It is very easy to turn a blind eye on analytics if the main goal is to acquire as much geographic area as

As data becomes abundant in today’s world, it is too difficult to track every single metric on a daily or weekly basis. Therefore, the best approach to provide insights and locate certain pertinent bits of data is to use a dashboard. The dashboard serves to show all of the key metrics you would like to track and their changes since the last review all in one place. Dashboards should be simple and easy to read in seconds. Dashboards that display the best metrics and key performance indicators in the best manner should serve to drive actions and decisions. (Kaushik 2010.)

Stage 2 - These organizations have implemented localized analytic solutions with some data elements and reporting, but they lack the big picture view of implementing enterprise-wide analytics activities. There are department specific silos of data and reports to meet functional needs.

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.

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