Getting to a highly sophisticated analytical state takes time and effort -- but companies that have embraced their data and developed a culture around it are finding their reward in increased innovation and improved competitive advantage. They are the companies others strive to be like.
"Understanding these companies gives insight into both the direction and the pace of the analytics revolution. Lessons about what hurdles these companies face and how they are addressing them suggest a path forward for many other companies," MIT Sloan Management Review and SAS (this site's sponsor) suggest in a recently released report, "From Value to Vision: Reimagining the Possible with Data Analytics."
The report is the early result of a multiyear research initiative the two organizations have undertaken to better understand companies and their relationships to analytics. It draws from a 2012 in-depth survey of more than 2,500 respondents -- 55 percent of whom were executives at the vice president/director level or above -- in two dozen industries. In addition, it encompasses the results of individual interviews with 29 academics and senior IT executives at a diverse group of companies.