Competing on Analytics - Ingenious Tomatoes

What makes a good company great? In the industrial economy of the 20th century who could be the biggest and diversify the most was all that mattered. However over the last 10 years we have experienced a paradigm shift from an economy based on industry to one based on knowledge. Firms who compete effectively do so not on who has the most employees but who has the most data and technology. Companies who take this data and these technology systems and use them to gain a competitive advantage based on knowledge compete on what is known as analytics. Analytics is using information gained from data analysis to make strategic business decisions. Companies such as Walmart, Marriott, Harrah's, Sara Lee, and UPS have all created the right focus, fostered the correct culture, hired the right people, and employed the best technology to truly be competitors on a global scale due to thier use of analytics. As we move deeper into the 21st century, analytics will be more important than ever; those who exploit it will thrive, all the rest will fail.

Category:

Science & Technology

Tags:

• Zack Landry
• Erika McManus
• Matthew Wallace
• Lexi De Brock

[kjo818]

Love it! Great job!

[SkeetandTrap]

Great video. The bar is super high now....