BUS 201 Final: Competing on Analytics

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Zorana Svedic

Document Summary

Analytics competitors: use data-collection technology and analysis to add value to business processes. Finds out what customers want, how much they will pay for it and what keeps them loyal. Make analytics part of your overarching competitive strategy. Going beyond basic statistics, creating models to predict profit potential by running and analysing experiments. Requires leadership from executives at the very top who have a passion for quantitative approach. If ceo needs help grasping quantitative techniques, turn to expects who understand the business and how analytics can be applied to it. Place all data-collection and analysis activities under common leadership with common technology and tools. Example: marketing analyst supply data on growth opportunities to supply-chain analysts to design more responsive supply networks. Pick several functions that together serve an overarching strategy. Example: aim analytics to increase customer loyalty and customer service.