Do you fear an analytics-driven competitor? You should!

IE code:
SI1-156-I
Language:   English
Format:  
PDF
Nr. Of Pages:
17
Type of publication:
Technical Note

Description

Do you fear an analytics-driven competitor? This case explains why you should by discussing how companies blend analytics as part of their competitive advantage to become much stronger players. Firstly, readers are introduced to terms referring to the qualities of an analytics-driven competitor such as information-based strategy, evidence-based decision, analytics and big data. Then, the case looks at the three types of companies that are competing in analytics: companies with analytics as a core competitive advantage, companies that blend analytics with their previous competitive advantage, and startups that have a serious commitment to analytics. It also delves into different types of models such as rule models, formula models, tree models, risk management credit scoring, market mix modelling and social scoring and the model development process. The case wraps up by emphasizing that “you should fear analytics-driven competitors because they are simply becoming leaders in every field nowadays.”