From Value to Vision: Reimagining the Possible with Data Analytics

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Based on a global executive survey with 2,500+ respondents and interviews with more than two dozen executives and academics, MIT Sloan Management Review and SAS Institute Inc. report on the distinctive characteristics and habits of companies that are very effective at using analytics to compete and innovate. This report offers an in-depth analysis of Analytical Innovators, the early leaders in the analytics revolution that is changing how many companies are managed. Read the full report at http://mitsmr.com/YqhNwb

Business

In collaboration with

RESEARCH
REPORT
SPRING 2013
FINDINGS FROM THE 2013 DATA & ANALYTICS GLOBAL
EXECUTIVE STUDY AND RESEARCH PROJECT

From Value to Vision:
Reimagining the
Possible with
Data Analytics
Read the full report online at
sloanreview.mit.edu/analytics2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Finding Competitive
Advantage with
Analytics
The percentage of
companies that
create a competitive
advantage with
analytics is trending
upwards.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Analytical Innovators — A Small Group of Analytics Leaders
Respondents are at various levels of analytics sophistication.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Open to New Ideas
Most Analytical
Innovators strongly
agree with the
statement: My
organization is
open to new ideas
that challenge the
status quo.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Analytical Innovators Use Analytics Diﬀerently Than Other Companies
Making real-time decisions is the No. 1 use of analytics among Analytical Innovators,
compared to cost reduction for other groups.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Analytical Innovators
Use More of the Data
They Collect
Analytical Innovators
tend to know why they
are collecting data
and how to use it.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Eﬀectiveness Across
the Information
Value Chain
Analytical Innovators
are more eﬀective at
capturing and
analyzing data, and
utilizing insights
from that data than
their Analytically
Challenged or
Analytical
Practitioner
counterparts.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Analytical Innovators Have More Supports for Analytics
Analytical Innovators are much more likely to support
analytics with more resources and processes.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Analytics Can Shift
the Power Structure
Analytical Innovators
report a power shift
in their organizations
at a much higher rate
than other groups.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Analytically Challenged
Report Fewer Beneﬁts
From Analytics
Analytics is not on the
executive agenda in
Analytically Challenged
organizations.

© Massachusetts Institute of Technology, 2013

MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT

Analytics Practitioners Use Analytics More to Compete Than Innovate
Analytics Practitioners have matured beyond the Analytically
Challenged but are not yet close to Analytical Innovators.

© Massachusetts Institute of Technology, 2013

sloanreview.mit.edu

© Massachusetts Institute of Technology, 2013

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From Value to Vision: Reimagining the Possible with Data Analytics

1. In collaboration with RESEARCH REPORT SPRING 2013 FINDINGS FROM THE 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT From Value to Vision: Reimagining the Possible with Data Analytics Read the full report online at sloanreview.mit.edu/analytics2013

2. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Finding Competitive Advantage with Analytics The percentage of companies that create a competitive advantage with analytics is trending upwards. © Massachusetts Institute of Technology, 2013

3. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Analytical Innovators — A Small Group of Analytics Leaders Respondents are at various levels of analytics sophistication. © Massachusetts Institute of Technology, 2013

4. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Open to New Ideas Most Analytical Innovators strongly agree with the statement: My organization is open to new ideas that challenge the status quo. © Massachusetts Institute of Technology, 2013

5. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Analytical Innovators Use Analytics Diﬀerently Than Other Companies Making real-time decisions is the No. 1 use of analytics among Analytical Innovators, compared to cost reduction for other groups. © Massachusetts Institute of Technology, 2013

6. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Analytical Innovators Use More of the Data They Collect Analytical Innovators tend to know why they are collecting data and how to use it. © Massachusetts Institute of Technology, 2013

7. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Eﬀectiveness Across the Information Value Chain Analytical Innovators are more eﬀective at capturing and analyzing data, and utilizing insights from that data than their Analytically Challenged or Analytical Practitioner counterparts. © Massachusetts Institute of Technology, 2013

8. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Analytical Innovators Have More Supports for Analytics Analytical Innovators are much more likely to support analytics with more resources and processes. © Massachusetts Institute of Technology, 2013

9. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Analytics Can Shift the Power Structure Analytical Innovators report a power shift in their organizations at a much higher rate than other groups. © Massachusetts Institute of Technology, 2013

10. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Analytically Challenged Report Fewer Beneﬁts From Analytics Analytics is not on the executive agenda in Analytically Challenged organizations. © Massachusetts Institute of Technology, 2013

11. MIT SLOAN MANAGEMENT REVIEW 2013 DATA & ANALYTICS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT Analytics Practitioners Use Analytics More to Compete Than Innovate Analytics Practitioners have matured beyond the Analytically Challenged but are not yet close to Analytical Innovators. © Massachusetts Institute of Technology, 2013

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