{"id":2109,"date":"2011-05-17T09:00:36","date_gmt":"2011-05-17T17:00:36","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=2109"},"modified":"2011-05-17T09:00:36","modified_gmt":"2011-05-17T17:00:36","slug":"business-intelligence-business-analytics-provides-the-edge-for-successful-companies","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/business-intelligence-business-analytics-provides-the-edge-for-successful-companies\/","title":{"rendered":"Business Intelligence: Business Analytics Provides the Edge for Successful Companies"},"content":{"rendered":"

Companies that effectively use business analytics are stronger performers. \u00a0Companies that are using business analytics for \u00a0“data-driven decision making\u201d have been shown to be 5 to 6 percent more productive than those companies that don’t. \u00a0That’s the results of a study<\/a> by academics from the Sloan School of Management at MIT and Wharton School of the University of Pennsylvania. \u00a0Interestingly, while productivity increases are traced to investments in BI technology, the correlation to general \u00a0investments in technology isn’t nearly as great.<\/p>\n

Mr. Brynjolfsson, lead author of the study, said that this trend in exploiting information gained from data analytics “harbingers of a trend in how managers make decisions and\u00a0has huge implications for competitiveness and growth.” \u00a05 to 6 percent differences in productivity results is sufficient to separate the winning from the losing companies said Brynjolfsson.<\/p>\n

Companies like IBM “get it”. \u00a0Mr. Brynjolfsson singles IBM out by saying that \u00a0\u201cIBM alone has spent $14 billion on 25 companies that focus on data analytics. \u00a0That business now employs 8,000 consultants and 200 mathematicians. \u00a0IBM said last week that it expected its analytics business to grow to $16 billion by 2015.”<\/p>\n

Data Analytics may transform businesses this decade much like the trend towards re-engineering swept businesses in the 1990’s. \u00a0Robert J. Gordon, an economist at Northwestern University, said that “It\u2019s never pure technology that makes the difference. \u00a0It\u2019s reorganizing things \u2014 how work is done. \u00a0And technology does allow new forms of organization.”<\/p>\n

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Companies that effectively use business analytics are stronger performers. \u00a0Companies that are using business analytics for \u00a0“data-driven decision making\u201d have been shown to be 5 to 6 percent more productive than those companies that don’t. \u00a0That’s the results of a…<\/span><\/p>\n

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