A lot of companies today are locked in a conundrum. They are not sure whether to jump in and make use of business analytics, wait for the right moment, or whether their time has gone. The sooner, they get in, the better, especially in certain sectors. A study anchored by Bain has demonstrated that in retail and restaurants their revenues jump up by a factor of three, but in video distribution it is six times. In automotive, the jump is the highest at fifteen times. What is noteworthy is that though about seventy percent of all companies are using analytics, few consider it as their main tool for marketing or decision-making. There are broadly three patterns of digital disruptors in this field. Some get ahead simply because their services entail the least cost. These kind of firms exploit those with inefficient processes, poor resource-allocation and where the outcomes are low-yield. Then there those who deliver much better customer experience. They disrupt ones with slow learning, whose services offered are generic or priced excessively. Then there are the new business models which totally change the existing rules. They make extensive use of the vast treasure troves of data warehousing so their analytics are of highest standard. Their offerings are unique and the existing offerings merely turn into commodities.

Source:http://www.bain.com/infographics/analytics-disruption/

Uploaded Date:07 June 2018