Formost of the analytical competitors, they use the data analysis to getmaximum value from their businesses processes hence getting thecompetitive advantage over the rest (Davenport & Harris, 2007).Most of the analytical competitors have same characteristics. Some ofthese characteristics include strategic or distinctive capabilities,having the executive commitment, organization-wide analyticprocesses, and having a critical financial investment in theanalytics-based competition.
Theattributes identified are part of the analytical platform and if oneof the attributes lacks especially the executive commitment then theother existing features will not support the platform. This thenmeans that executive commitment is such a critical attribute in theprocess. The process of building the attribute is evolutionary innature. In the early stages, most of the organizations areanalytically impaired, and they build the business intelligence andinfrastructure to be part of the business analytics (Yeoman, 2009).The process is procedural such that after the process, the businessesthen move on, define the strategic capabilities, and align the dataand strategies with the various capabilities to be analyticcompanies.
Oftenfor most of the business that faces complex problems, they often havemany data that need to be sorted out. Therefore, through employing ofbusiness analytics, the industries with the complex problems willbenefit the most (Quint, 2014). Some of the industries that benefitmore given the complexity of the industry include manufacturing,marketing, sales, and merchandizing. Notably, these industries arenot related to analytics but use the analytic tools to improve theirresults and business processes.
Therole of business analytics is on the increase as most of thebusinesses are shifting from brick and mortar model todirect-to-consumer model (DTC). The increase in the use of businessanalytics is informed by the need to respond to the changes incustomer’s needs.
Davenport,T. H., & Harris, J. G. (2007). Competingon analytics: The new science of winning.Harvard Business Press.
Quint,S. L. (2014). Development of a Business Case for Investment inAnalytic Software: An Organization Development Perspective.
Yeoman,I. (2009). Competing on analytics: The new science of winning.Journalof Revenue and Pricing Management, 8(5),474-475.