Analytic Competitor Essay
BUS 606 Quantitative Methods
July 30, 2014
Grand Canyon University
Analytic competitor can be described as an organization engaged in the committed activities of accumulating data, organizing and analyzing it into meaningful information, and following through with business decisions and activities informed by that information. In order for organizations to prosper as an analytics competitor they must use analytics data because most companies are offering similar products and services. They also must know what the customer want and how much they are willing to pay for that product. Competitors should also know the compensation costs, turnover rates and how to …show more content…
Sources of Strength
An organization is, by its nature, complex. A business organization will most likely segment various functions. Production, facilities, human resources, accounting, marketing, customer service. Any one of these departments could most likely support in improving and being more efficient and effective.
Analytics competitors are more that simple number-crunching factories. Certainly, they apply technology with a mixture of brute force and finesse to multiple business problems (Davenport 2006). In Thomas H. Davenport’s article, competing on Analytics, Davenport focuses on four sources of strengths that give such organizations strength. The right focus, the right culture, the right people and the right technology. An organization is, by its nature, complex. A business organization will most likely segment various functions.
The Right Focus: Competitors should have the ability to focus on only a few analytics subjects. Becoming to diffuse can make the organization losing clear sight on the purpose of analytics.