Linking Analytics to Performance
High performers share a winning approach to analytics when it comes to investments, talent, technological tools, and their focus on linking decision-making with business outcomes.
Analytics Accelerates Smarter Business Decisions
For many companies, analytics is still a question.
For high performers, analytics is the answer. High-performing companies – those that deliver continuous above-average business performance as well as above-average analytics performance – do analytics differently. This distinctive approach contributes to measurable gains across their enterprises. In essence, the stronger a company’s commitment to analytics, the higher that company’s performance.
Analytics high performers are far ahead in the journey from data and analysis to insights, decisions and outcomes. High performers see better results when they adopt analytics because they then adapt their enterprises to leverage analytics’ full power. By embedding analytics into decision-making processes linked to desired business outcomes, high performers can make smarter decisions faster and with greater certainty. They also make decisions that are more likely to lead to tangible business results.
There is a strong consensus across all companies surveyed on the importance of analytics to an organization’s future: more than two-thirds agree that analytics is important. But major differences surface when companies are grouped by several parameters: their application of analytics, along with growth, profitability, consistent performance and future prospects. From this analysis, a new class of company emerges, termed “high performers.” These high performers deliver higher business and analytics performance by doing analytics differently. They…
1. Adopt analytics to support decision- making: Twice as many high performers are using analytics in key areas.
2. Adapt decision processes to embed analytics: Twice as many high performers are embedding analytics in decision- making that leverages machine learning. High performers embed predictive analytics insights into key business processes (79 percent vs. 34 percent) and keep monitoring decisions and course-correct (84 percent vs. 32 percent).
To read the full paper, please follow the link Linking Analytics to High Performance_Executive Summary Final_June 2015