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Companies have been experimenting with different ways to use and get benefitted from business analytics. As per an estimate by the McKinsey Global Institute, it can generate business global of between nine and fifteen trillion US dollars. Yet, many companies are not satisfied, claiming that this use of analytics is not giving them the right sort of business intelligence to base their decision-making on. So, McKinsey did a study spanning twelve different geographies for companies with total revenues in excess of a billion. Some leaders have indeed cracked the code of using analytics at scale. One of the key areas in which these leaders break away from the rest is that their entire strategy is aligned towards the analytics data. This data to be captured and further sieved through requires the right foundations in terms of both people and technologies available. Collaborative, cross-functional teams need to be put in place. The front-line staff needs to be empowered to make use of the data emanating. This helps analytics bridge the gap with the last-mile.

Source:https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/breaking-away-the-secrets-to-scaling-analytics?cid=other-soc-twi-mip-mck-oth-1805&kui=_0cl1m7qgzjLP6r7Apd54A

Uploaded Date:23 June 2018

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