I am completely amazed at the impact analytics is having on organizations today. Big data combined with faster processor speeds and innovative analytic tools are truly changing the world. Using these new found data sources and tools, analytics has created radical improvements in detecting fraud, part failure, churn and countless other outcomes, drastically impacting the bottom line of a few leading organizations.
Unfortunately, I also continuously see examples of organizations failing to take advantage of this changing analytic landscape. Many, of course, fail to make solid investments in analytics, resulting in a huge competitive disadvantage. But, many other organizations have made investments. They have purchased tools, hired solid analytic teams and often tried to create a data-driven culture. But their ability to act on the analytic insights is painfully slow, certainly much slower than the pace today’s business requires.
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