What the C-suite Should Know About Analytics

Analytics is more than a technology. In Accenture’s view, analytics is a transformational phenomenon that, by basing more decisions in empiricism, could fundamentally change how business is conducted. Accenture’s chief scientist presents five ways that the “sophisticated and analytically oriented enterprise of the future” might operate differently.

Kishore S. Swaminathan, Gary Loveman

Business proposals and decisions—big or small—have to provide satisfactory answers to this question: “Do we think this is true or do we know?”

Kishore S. Swaminathan

Businesses thrive on stability and repeatability. Stable and repeatable processes justify large-scale capital expenses; they justify large-scale employee training; and they reduce cognitive overhead because processes and decisions do not change and hence their rationale does not have to be explained repeatedly.

By contrast, an analytically based enterprise of the future will have to be designed around volatility rather than repeatability. Volatility—or rapidly changing decisions that … [ Read more ]

Kishore S. Swaminathan

There are three very distinct ways that organizations can fall into the analysis-paralysis trap. One is a managerial tendency to “over-fit the curve”—a statistical term that refers to the diminishing value of additional data once a pattern (or curve, in the graphic sense) has been found. Data collection has a price, inaction has a price and an analytically literate organization will clearly understand the cost … [ Read more ]

Eight Trends that are Redefining IT

Converging trends are creating a new technology ecosystem that will address concerns ranging from hardware, applications and infrastructure to systems development and worker enablement. Net result: Enterprise agility will be the next basis of competition.