Value Creation from the Impact of Business Analytics
Digital transformation is a key imperative across multiple industries globally. One of the main tenets of digital transformation is improving the intelligence quotient in an organization in order to enable accurate decision-making. Intelligence in the dig
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SP Jain School of Global Management, Mumbai, India {hari.ds19dba005,k.maddulety}@spjain.org SP Jain School of Global Management, Singapore, Singapore [email protected]
Abstract. Digital transformation is a key imperative across multiple industries globally. One of the main tenets of digital transformation is improving the intelligence quotient in an organization in order to enable accurate decisionmaking. Intelligence in the digital era is fueled by data and by the ability to analyze data in a way that generates meaningful insights, thereby making an organization competitive. Literature shows that the benefits of being analytically competitive are widespread and impactful across many organization functions like strategy, finance, marketing and operations; but this can be accomplished only if an organization has the right level of capability for adopting and executing analytics initiatives. Data, leadership, people skills, culture and governance are capabilities that are essential for successful analytics endeavors in an organization. This study is focused on building an end-to-end perspective comprising input factors and outcomes of being analytically competitive. Keywords: Big data Business analytics Culture Technology Talent Business value Leadership
Governance Strategy
1 Introduction In coming years, the most intelligent organizations will need to blend technologyenabled insights with a sophisticated understanding of human judgment, reasoning, and choice. Those that do this successfully will have an advantage over their rivals (Schoemaker and Tetlock 2017). The Authors further state, a relatively new phenomenon, the Global intelligent enterprise is shaped by the growing power of computers and big data, which provide the foundation for operations research, forecasting models, and artificial intelligence (AI). An analogy to this, is Sam Palmisano, IBM CEO’s, coining of the term “Globally Integrated Enterprise” (GIE) in his 2006 article where he terms it as this emerging business model that is built completely on the base of data and analytics. Prominent researchers within the field use the following definition of Business Analytics (BA): a combination of data, tools and technology, analysis and quantitative and qualitative methods used to build statistical, mathematical or computer-based models that can provide organizations with better insights to drive
© IFIP International Federation for Information Processing 2020 Published by Springer Nature Switzerland AG 2020 S. K. Sharma et al. (Eds.): TDIT 2020, IFIP AICT 617, pp. 115–125, 2020. https://doi.org/10.1007/978-3-030-64849-7_11
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intelligent fact-based decisions (Davenport 2005). Thomas Davenport introduces his latest publication Analytics 4.0 by stating that artificial intelligence (AI) is intrinsic to analytics; This statement emphasizes the significance of business analytics in an organization (Davenport and Ronanki 2018) culminating to AI. A review of the literature indicates that the value of BA is in it
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