Every company is trying to capitalize on the promise of data and analytics. While a few leading firms like Amazon and Alibaba seem to have cracked the code, most are still finding their way and many remain unsure even where to start. A 2021 study by NewVantage found only 39% of executives believe their organizations manage data as an asset, and even fewer (24%) view their companies as being data-driven. Likewise VentureBeat found, in their 2021 survey, that just 13% of executives believe their organizations are delivering on their data strategy. These underwhelming findings are consistent with earlier studies by McKinsey, Deloitte, and BCG that revealed a large majority of senior leaders are not satisfied with the outcomes delivered through analytics.
How Well Does Your Company Use Analytics?
A framework to identify your strengths and weaknesses.
July 27, 2022
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Summary.
Almost every company is trying to capitalize on the promise of data and analytics, but a large majority of senior leaders don’t feel like their organizations are hitting the mark. What separates leaders from these lagging companies, and how can firms struggling with the analytics mandate catch up with — and even surpass — their competitors? The authors offer a framework to help leaders assess their current capabilities and invest in strengthening their capabilities across seven dimensions: culture, leadership commitment, operations and structure, skills and competencies, strategy and analytics alignment, proactive market orientation, and employee empowerment.
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HBR Learning
HBR Learning
Digital Intelligence Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Digital Intelligence . Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Excel in a world that's being continually transformed by technology.