Analytics at Work: Smarter Decisions, Better Results
Harvard Business Press, 2010 - Business & Economics - 214 pages
Most companies have massive amounts of data at their disposal, yet fail to utilize it in any meaningful way. But a powerful new business tool - analytics - is enabling many firms to aggressively leverage their data in key business decisions and processes, with impressive results.
In their previous book, Competing on Analytics, Thomas Davenport and Jeanne Harris showed how pioneering firms were building their entire strategies around their analytical capabilities. Rather than "going with the gut" when pricing products, maintaining inventory, or hiring talent, managers in these firms use data, analysis, and systematic reasoning to make decisions that improve efficiency, risk-management, and profits.
Now, in Analytics at Work, Davenport, Harris, and coauthor Robert Morison reveal how any manager can effectively deploy analytics in day-to-day operations--one business decision at a time. They show how many types of analytical tools, from statistical analysis to qualitative measures like systematic behavior coding, can improve decisions about everything from what new product offering might interest customers to whether marketing dollars are being most effectively deployed.
Based on all-new research and illustrated with examples from companies including Humana, Best Buy, Progressive Insurance, and Hotels.com, this implementation-focused guide outlines the five-step DELTA model for deploying and succeeding with analytical initiatives. You'll learn how to:
Use data more effectively and glean valuable analytical insights
Manage and coordinate data, people, and technology at an enterprise level
Understand and support what analytical leaders do
Evaluate and choose realistic targets for analytical activity
Recruit, hire, and manage analysts
Combining the science of quantitative analysis with the art of sound reasoning, Analytics at Work provides a road map and tools for unleashing the potential buried in your company's data.
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This book is very informative and helps one understand the importance of analytics not only in business but also in all aspects of life. I think that this book helped me realize the importance for me to review my life and the information I learn and analyze it effectively. There are many real life business models cited which help illustrate the importance and effectiveness of analytics.
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What It Means to Put Analytics to Work
The Analytical Delta
Build an Analytical Culture
Review Your Business Comprehensively
Meeting Challenges Along the Way
Toward More Analytical Decisions and Better Results
About the Authors
Embed Analytics in Business Processes