A majority of companies are now using huge streams of data and sophisticated analytic tools to transform how they strategize, operate, and engage with customers. According to a new global study by MIT Sloan Management Review (MIT SMR), 58% of organizations now apply analytics to create a competitive advantage within their markets or industries, up from 37% just one year ago.
Yet there is a growing gap between the most sophisticated users of data and analytics, and those just getting onto the path towards analytics competency.
MIT SMR’s initial joint study in 2010 identified three progressive levels of analytical sophistication: Aspirational, Experienced and Transformed. When we compared this year’s results to last year’s, we found that Experienced and Transformed organizations are expanding their capabilities and raising their expectations of what analytics can do, while the Aspirational organizations are falling behind. Read More