The Value of Business Analytics: Identifying the Path to Profitability

SUMMARY

Within this chapter we have reviewed the importance of business analytics within a variety of strategic planning frameworks. Within each of the perspectives, business analytics has the potential to play a key enabling role regardless of where competitive advantage stems from. Equally, business analytics has the potential to act as a key enabler for innovation and an ability to deliver constantly growing incremental economic returns.

With all this going for it, it is not surprising that business analytics is seen as a key strategic enabler and differentiator by so many organizations. However, translating these strategic imperatives into tactical delivery plans is often challenging.

Over the next chapter we will move from a strategic view to a tactical view, looking specifically at:

• What business analytics means in practice
• Where barriers to success come from and why
• A high-level view of how to manage these challenges

NOTE

1. R. H. Coase, “The Nature of the Firm,” Economica 4, no. 16 (1937): 386–405.