Summary of Competing on Analytics

Business Analytics
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Business Analytics
Summary of Competing on Analytics (Davenport, 2006).
The article dwells primarily on the aspect of competition in business and how to beat competitors in their own game. According to the author, it is virtually impossible to be distinguishable from rivals by focusing only on products (Davenport, 2006). As such, entrepreneurs must explore other mechanisms of pulling ahead of the pack, and one of them is becoming an analytics competitor.
According to the article, becoming an analytics competitor essentially means using sophisticated technology to collect and analyze data to achieve optimum value from one’s business processes. This is tenable since analytics enables entrepreneurs to discern what the customers want and how much they are willing to pay (Davenport, 2006). In addition, analytics plays the paramount role of enabling business people to identify what keeps customers loyal. In short, the author posits that embracing analytics as a competitive strategy at every level will arm employees with foolproof evidence. This will inevitably result in outstanding decision-making.
Further, the article outlines how one can become an astute analytics competitor. The author, for instance, intimates that championing the cause from the top will be significant in achieving success. This would involve acknowledging the culture, processes, and changes in skills that analytics will precipitate. In essence, it means preparing adequately to lead an analytics-oriented organization (Davenport, 2006). Secondly, one must formulate a single analytics initiative by condensing data collection and analysis under a single leadership. This is critical as it would facilitate sharing of data and eradicate impediments. Thirdly, one should focus on establishing and sustaining analytics by hiring the right staff and crafting an analytics culture. Last but not least, and probably the most crucial factor, is using th...