Raising the Bar With Analytics

A surprisingly high percentage of managers see the importance of increasing the use of analytics in decision making, according to a recent survey of 2,037 managers conducted by MIT Sloan Management Review, in partnership with SAS Institute. More than half of the survey respondents strongly agree tha...

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Bibliographic Details
Published in:MIT Sloan management review 2014-12, Vol.55 (2), p.29
Main Authors: Kiron, David, Prentice, Pamela Kirk, Ferguson, Renee Boucher
Format: Article
Language:English
Subjects:
Alliances
Big Data
Business analytics
Business models
Collaboration
Decision making
Innovations
Knowledge management
Management science
Polls & surveys
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Summary:A surprisingly high percentage of managers see the importance of increasing the use of analytics in decision making, according to a recent survey of 2,037 managers conducted by MIT Sloan Management Review, in partnership with SAS Institute. More than half of the survey respondents strongly agree that their organization needs to step up the use of analytics to make better business decisions and that percentage rises to 87% if respondents who agree somewhat are included. The demand for better analytics is shifting how some companies view their own and others data. Many companies aim to become better producers of goods or services by using their own data in more effective ways. But some companies, such as Style-Seek, are beginning to change that paradigm. They are aiming to become better producers of data and analytics in part so that other businesses can use analytics in more effective ways. To deepen our understanding of the challenges and opportunities associated with the use of business analytics, MIT Sloan Management Review, in partnership with SAS, conducted a survey in the summer of 2013 to which 2,037 business executives, managers and analysts responded from organizations located around the world.
ISSN:1532-9194