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Summary
Summary
You have more information at hand about your business environment than ever before. But are you using it to "out-think" your rivals? If not, you may be missing out on a potent competitive tool.
In Competing on Analytics: The New Science of Winning , Thomas H. Davenport and Jeanne G. Harris argue that the frontier for using data to make decisions has shifted dramatically. Certain high-performing enterprises are now building their competitive strategies around data-driven insights that in turn generate impressive business results. Their secret weapon? Analytics: sophisticated quantitative and statistical analysis and predictive modeling.
Exemplars of analytics are using new tools to identify their most profitable customers and offer them the right price, to accelerate product innovation, to optimize supply chains, and to identify the true drivers of financial performance. A wealth of examples--from organizations as diverse as Amazon, Barclay's, Capital One, Harrah's, Procter & Gamble, Wachovia, and the Boston Red Sox--illuminate how to leverage the power of analytics.
Author Notes
Thomas H. Davenport is the President's Distinguished Chair at Babson College and a research fellow at the MIT Center for Digital Business. Jeanne G. Harris is Executive Research Fellow and Director of Research for the Accenture Institute for High Performance Business.
Reviews 1
Choice Review
While globalization has arguably brought many benefits to organizations, undeniably it has eroded many standard bases of competitive advantage. Firms that competed on innovative products or proprietary technology, for example, find that these advantages are only temporary. Davenport (information technology and management, Babson College) and Harris (director of research, Accenture Institute for High Performance) argue that competitive advantage from now on will result from efficient execution, and for this to happen, organizations must focus on analytics. The dictionary defines analytics as the "science of logical analysis." Logic, according to the authors, is based on using sophisticated statistical tools on voluminous data collected regularly by organizations. Thus, for example, Netflix (an online movie rental business) adroitly separates the regulars from the irregulars, keeps the regulars loyal to the organization by customizing the Web site to suit their tastes, and encourages additional business from the irregulars by offering them attractive financial incentives. Using examples from a variety of organizations (e.g., Procter & Gamble, the Boston Red Sox, and Amazon.com), the authors make a compelling case for decision making that is supported by numbers-based logic. Combining both theoretical rigor and practical advice, this is an immensely useful book for executives. Summing Up: Highly recommended. Professionals/practitioners and general readers. R. Subramanian Montclair State University
Table of Contents
| Foreword | p. ix |
| Acknowledgments | p. xiii |
| Part 1 The Nature of Analytical Competition | |
| 1 The Nature of Analytical Competition: Using Analytics to Build a Distinctive Capability | p. 3 |
| 2 What Makes an Analytical Competitor?: Defining the Common Key Attributes of Such Companies | p. 23 |
| 3 Analytics and Business Performance: Transforming the Ability to Compete on Analytics into a Lasting Competitive Advantage | p. 41 |
| 4 Competing on Analytics with Internal Processes: Financial, Manufacturing, R&D, and Human Resource Applications | p. 57 |
| 5 Competing on Analytics with External Processes: Customer and Supplier Applications | p. 83 |
| Part 2 Building an Analytical Capability | |
| 6 A Road Map to Enhanced Analytical Capabilities: Progressing Through the Five Stages of Development | p. 107 |
| 7 Managing Analytical People: Cultivating the Scarce Ingredient That Makes Analytics Work | p. 131 |
| 8 The Architecture of Business Intelligence: Aligning a Robust Technical Environment with Business Strategies | p. 153 |
| 9 The Future of Analytical Competition: Approaches Driven by Technology, Human Factors, and Business Strategy | p. 175 |
| Notes | p. 187 |
| Index | p. 199 |
| About the Authors | p. 217 |
