Harvard Business Review – Competing on Analytics

The article “competing on analytics” by Thomas H. Davenport focuses on the

business analytics by the organisations which are known for their best output. Organizations

are competing on analytics. The article points out the ability of an organization to collect,

analyze, and act on data. Importance of business analytics in management of employees and

decision making. Analytics competitors has certain methods for detection of their clients.

One of the major things to be considered here is that analytics is accurate judging of scenario

based on a set of evidence and observation, rather than mere instincts. Many of the examples

are Harrah’s, Capital One, etc. are given by Davenport.

There are three key attributes among analytics competitor:

1. Widespread use of modeling and optimisation

2. An Enterprise Approach

3. Senior Executive Advocates.

Strengths of business analytics are:

1. The right focus

2. The right culture

3. The right people

4. The right technology

From this article, I understand that Creating of ideas what has to be done if problem

occurs, explaining the issue, interacting skills with decision makers, and implementing the

plans comes under analytics. It is needed in changing business scenario. Certainly they

should be able to take quick decisions in case of need. Proper analysis leads to a favourable

outcome.

In short, we can say that data strategy combined with software and hardware in case of

serious analytics . Advances in technology and techniques give companies a better and better

handle on the critical operations. Statistics do play an important role in business strategy and

in decision making and analysts must implement valuable market strategies so that it leads

the organization towards revenue, reputation and success.

Submitted by

Avantika Sahu1527735I MBA - J