big data analysis

Topics: Data management, Business terms, Management Pages: 38 (6494 words) Published: March 5, 2014
WINTER 2011

V O L . 5 2 N O. 2

Steve LaValle, Eric Lesser, Rebecca Shockley,
Michael S. Hopkins and Nina Kruschwitz

Big Data, Analytics and
the Path From Insights
to Value

REPRINT NUMBER 52205

THE NEW INTELLIGENT ENTERPRISE

Some of the best-performing retailers are using
analytics not just for finance and operational
activities, but to boost competitive advantage on
everything from displays, to marketing, customer
service and customer experience management.

Big Data, Analytics and the
Path From Insights toValue
How the smartest organizations are embedding analytics to
transform information into insight and then action. Findings and recommendations from the first annual New Intelligent
Enterprise Global Executive study.
BY STEVE LAVALLE, ERIC LESSER, REBECCA SHOCKLEY, MICHAEL S. HOPKINS AND NINA KRUSCHWITZ

IN EVERY INDUSTRY, in every part of the world, senior leaders wonder whether they are getting full value from the massive amounts of information they already have within their organizations. New technologies are collecting more data than ever before, yet many organizations are still looking for better ways to obtain value from their data and compete in the marketplace. Their questions about how best to achieve value persist.

Are competitors obtaining sharper, more timely insights? Are they able to regain market advantage, neglected while focusing on expenses during the past two years? Are they correctly interpreting new signals from the global economy — and adequately assessing the impact on their customers and partners? Knowing what happened and why it happened are no longer adequate. Organizations need to know what is happening now, what is likely to happen next and what actions should be taken to get the optimal results.

COURTESY OF BEST BUY

THE LEADING
QUESTION

How are
organizations
using analytics
to gain insight
and guide
action?
FINDINGS
Top-performing

organizations are
twice as likely to
apply analytics to
activities.
The
 biggest challenges in adopting
analytics are managerial and cultural.
V
isualizing data
differently will become increasingly
valuable.

WINTER 2011 MIT SLOAN MANAGEMENT REVIEW 21

THE NEW INTELLIGENT ENTERPRISE

ABOUT THE
RESEARCH
To understand the challenges and opportunities
associated with the use of
business analytics, MIT
Sloan Management Review, in collaboration with
the IBM Institute for Business Value, conducted a
survey of more than 3,000
business executives, managers and analysts from
organizations located
around the world. The
survey captured insights
from individuals in 108
countries and more than 30
industries and involved organizations from a variety
of sizes. The sample was
drawn from a number of
different sources, including
MIT alumni and MIT Sloan
Management Review subscribers, IBM clients and
other interested parties.
We also interviewed
academic experts and subject matter experts from a
number of industries and
disciplines to understand
the practical issues facing
organizations today. Their
insights contributed to a
richer understanding of the
data and the development
of recommendations that
respond to strategic and
tactical questions that
senior executives address
as they operationalize
analytics within their organizations. We also drew
upon a number of IBM
case studies to explore further how organizations are
leveraging business analytics and illuminate how real
organizations are putting
our recommendations into
action in different organizational settings.

To help organizations understand the opportunity of information and advanced analytics, MIT Sloan Management Review partnered with the IBM
Institute for Business Value to conduct a survey of
nearly 3,000 executives, managers and analysts working across more than 30 industries and 100 countries. (See “About the Research.”)
Among our key findings: Top-performing organizations use analytics five times...
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