Eleven years ago, a minority of companies had discovered the advantages of competing on analytics. That's when Tom Davenport, President's Distinguished Professor of Information Technology and Management, Babson College, wrote his now-famous article Compete on Analytics or the Harvard Business Review. A year later Davenport turned the hugely popular article into a book. But while competing on analytics was intriguing 10 years ago, not many organizations were doing it.
"We struggled to find companies, and I would say that maybe 5% of large organizations could be described as analytical competitors 10 years ago," Davenport said in an interview.
A lot has changed since then.
"If you are competing on analytics today, you probably have a lot more competition than you did 10 years ago," Davenport told me. The recognition of the importance of analytics to business is just one of the huge changes in the last 10 years. Today we have more data from more sources than ever before. More organizations are leveraging cloud computing. More people are carrying mobile devices loaded with sensors that provide marketers with all sorts of new data about customers.
[Read the rest of the story at AllAnalytics.com]