Big data and advanced analytics have the potential to significantly improve company performance and productivity. However, companies often struggle to realize these gains because their analytic systems remain disconnected from how managers actually make decisions. To fully leverage data and analytics, companies need to integrate multiple data sources, build predictive models, and develop analytics that directly inform business decisions and operations. Simply collecting large amounts of customer data and building new IT systems is not sufficient - organizations must transform themselves to ensure data and models yield better outcomes.

1. Making Advanced AnalyticsWork forYou
by Dominic Barton and David Court

2. KEY INSIGHTS
.
Big data is attracting serious investment from
technology leaders such as IBM and Hewlett-Packard

3. According to research by Andrew McAfee
and Erik Brynjolfsson, of MIT, companies
that inject big data and analytics into their
operations show productivity rates and
profitability that are 5% to 6% higher than
those of their peers
Big data could transform the way
companies do business, delivering the kind
of performance gains last seen in the
1990s, when organizations redesigned their
core processes

4. The promised gains in performance were
often slow in coming, because the systems
remained stubbornly disconnected from how
companies and frontline managers actually
made decisions, and new demands for data
management added complexity to
operations.
Experts descended on boardrooms
promising impressive results if new IT
systems were built to collect massive
amounts of customer data. It didn’t turn
out that way

5. Managerial Relevance
Possess the muscle to transform the organization so that
the data and models actually yield better decisions.

6. Ways to fully exploit
data and analytics

7. Identify, combine, and manage
multiple sources of data

8. Build advanced analytics models for predicting and
optimizing outcomes.

9. Procedure in exploiting data
Choose the Right Data

10. Get the necessary IT support.

11. Build ModelsThat Predict and
Optimize Business Outcomes

12. Develop business-relevant
analytics that can be put to use.

13. Develop capabilities to
exploit big data.

14. AYUSH BOSE