How can the use of data to make business decisions lead to competitive advantage?
In today's global and highly interconnected business environment, traditional competitive differentiators--like geography, protective regulation, even proprietary technology--are no longer enough. What's left is the opportunity to execute a business with more efficiency and effectiveness than your competitors, and to make the smartest business decisions possible. Analytics can help do this.
Analytical competitors are organizations that select a few distinctive capabilities on which to base their strategies, and then apply extensive data, analysis and decision-making to support these capabilities. Whatever the capabilities, analytics can propel them to a higher level. We also want to point out that it is the human and organizational aspects of analytical competition that are truly differentiating.
Will readers find tools in your book to help them navigate this "new science," as you call it?
Competing on Analytics offers information on the topic, including key attributes of analytical competition. We also give examples of firms--companies like Netflix, Amazon.com, Google, E&J Gallo, and Procter & Gamble, and sports teams including the Boston Red Sox and New England Patriots--that are using analytics extensively within their organizations today. As well, the second half of the book is somewhat of a how-to guide that includes a roadmap for organizations wanting to compete on their analytical capabilities. We also devote time to discussing the two key resources--human and technological--needed to make this form of competition a reality.
You mention a few professional sports teams above, and in the book you discuss how analytics cuts across both industries--business and sports. What's the connection?
Think of what business and professional sport organizations have in common: both have large amounts of data; talented but expensive human resources; the need to optimize critical resources; and of course, the need to win. Many baseball teams--the Red Sox, the Oakland A's, the St. Louis Cardinals--and U.S. professional football teams are taking a more analytical approach and winning. In addition to the Patriots, we highlight the Tennessee Titans and Green Bay Packers football teams, both increasing their reliance on analysis and statistics to stay competitive. And it's not just a U.S. phenomenon: European soccer team AC Milan uses predictive modeling to prevent player injuries; and has even created the "Milan Lab" to identify risk factors. In fact, several members of the World-Cup winning Italy national team trained at the lab.
In the foreword to the book, Gary Loveman of Harrah's lists several reasons why common organizational thinking actually impedes "analytic management." Can you talk about this?
As you know, Gary is one of the pioneers in this industry and Harrah's successes have been widely documented. Gary cites four common factors that hinder analytical competition: deeply embedded conventional wisdom that has been around for so long, it's hard to reverse; decision making--especially at high levels--that fails to demand rigor and analysis; employees themselves who are not willing or equipped to do analytic work; and the power of ideas over data. It's our hope that this book will upend these barriers and help organizations start thinking of analytics as a framework for success.
Ive received the book on time and on good conditions.
I recommend this book to evryone interested on Analytics and Bussiness Management.
The book I received was in great condition and the delivery service was great value for money!
I would recommend this product to anybody else with a passion for improving... Read more
A book that really has a good way to define what does analytics means. Great ideas in how to organize yourself as an analytical workforce.Published on 3 Dec. 2012 by Kelnner Rodrigues de Franca
If you've already figured out that you should be interested in how to use data and analytics in your business then this book will help make you feel good about making the right... Read morePublished on 6 July 2012 by Martin Squires
There are some very interesting ideas in this book, notably the ideas of analytics and the competency model. Read morePublished on 1 Aug. 2011 by whitecollardrifter
An informative read which I can recommend to anyone working in the field of data management or analytics. Read morePublished on 9 April 2010 by P. K. Featherstone
OK - cards on the table - I want this future to be the truth. It suits me as a business person and as a mathematician. The examples are great but they only show what can be done. Read morePublished on 13 Oct. 2009 by John Dawson
This excellent book explains exactly what competitive analytics are and what you need to know to implement them. Thomas H. Davenport and Jeanne G. Read morePublished on 8 Nov. 2007 by Rolf Dobelli