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Analytics at Work: Smarter Decisions, Better Results Hardcover – 8 February 2010

4.3 out of 5 stars 119 ratings

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Most companies have massive amounts of data at their disposal, yet fail to utilize it in any meaningful way. But a powerful new business tool - analytics - is enabling many firms to aggressively leverage their data in key business decisions and processes, with impressive results.
In their previous book,
Competing on Analytics, Thomas Davenport and Jeanne Harris showed how pioneering firms were building their entire strategies around their analytical capabilities. Rather than "going with the gut" when pricing products, maintaining inventory, or hiring talent, managers in these firms use data, analysis, and systematic reasoning to make decisions that improve efficiency, risk-management, and profits.
Now, in
Analytics at Work, Davenport, Harris, and coauthor Robert Morison reveal how any manager can effectively deploy analytics in day-to-day operations-one business decision at a time. They show how many types of analytical tools, from statistical analysis to qualitative measures like systematic behavior coding, can improve decisions about everything from what new product offering might interest customers to whether marketing dollars are being most effectively deployed.
Based on all-new research and illustrated with examples from companies including Humana, Best Buy, Progressive Insurance, and Hotels.com, this implementation-focused guide outlines the five-step DELTA model for deploying and succeeding with analytical initiatives. You'll learn how to:
Use
data more effectively and glean valuable analytical insights
Manage and coordinate data, people, and technology at an
enterprise level
Understand and support what analytical
leaders do
Evaluate and choose realistic
targets for analytical activity
Recruit, hire, and manage
analysts
Combining the science of quantitative analysis with the art of sound reasoning,
Analytics at Work provides a road map and tools for unleashing the potential buried in your company's data.

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Product description

Review

"Harvard Business School Press, Davenport in particular, has produced some excellent books on competitive analytics and the like, with good case studies..." - ZD Net

About the Author

Thomas H. Davenport is the President's Distinguished Chair at Babson College, a research fellow at the MIT Center for Digital Business, and the author, coauthor, or editor of thirteen books. Jeanne G. Harris is Executive Research Fellow and a senior executive at Accenture's Institute for High Performance in Chicago. Robert Morison has been leading business research in professional services firms for over twenty years and is a coauthor of Workforce Crisis.

Product details

  • ASIN ‏ : ‎ 1422177696
  • Publisher ‏ : ‎ Harvard Business Review Press
  • Publication date ‏ : ‎ 8 February 2010
  • Language ‏ : ‎ English
  • Print length ‏ : ‎ 240 pages
  • ISBN-10 ‏ : ‎ 9781422177693
  • ISBN-13 ‏ : ‎ 978-1422177693
  • Item weight ‏ : ‎ 481 g
  • Dimensions ‏ : ‎ 16.76 x 2.13 x 24.08 cm
  • Customer Reviews:
    4.3 out of 5 stars 119 ratings

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4.3 out of 5 stars
119 global ratings

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  • Mr Jonathan Charley
    5.0 out of 5 stars Excellent practical guide to introducing the use of analytics into a business
    Reviewed in the United Kingdom on 5 June 2013
    Format: KindleVerified Purchase
    A very good pragmatic guide to introducing the use of business analytics into the wrokplace. Focusing on the business rather than the technology this book provides some valuable frameworks for evaluating the current analytics maturity of an organisation along with practical steps and examples of how to implement.
  • Toronto Bob
    5.0 out of 5 stars Good starting point for analytics
    Reviewed in Canada on 7 September 2020
    Format: HardcoverVerified Purchase
    If you are like me and data has become an increasing part of your daily work, this book should help you provide yourself with a framework to adopt analytics successfully. This book provides guidance from the business side of analytics, rather than the IT side, and I found that made it accessible and understandable as a manager.
  • Iván Herrero
    5.0 out of 5 stars Great guide to apply analysis company wide
    Reviewed in Spain on 31 March 2019
    Format: KindleVerified Purchase
    Easy to read, well structured and supported with examples, this book sets the path to evolving the analytical capabilities of any company in a sustainable, profit-focused way.
  • Erik
    5.0 out of 5 stars Practicing analytics
    Reviewed in the United States on 24 January 2010
    Format: HardcoverVerified Purchase
    Well composed follow-up by the writers of "Competing on Analytics: The New Science of Winning" and Robert Morison, coauthor of "Workforce Crisis: How to Beat the Coming Shortage of Skills and Talent". While the previous effort by Davenport and Harris focused on the use of analytics for competitive strategy, this book focuses on deploying analytics in day-to-day operations. Use of the "five stages of analytical competition", which describes the analytics phases through which firms pass as their level of maturity increases from "analytically impaired" or "flying blind" to "analytical competitors" or "enterprise-wide, big results, sustainable advantage", continues here, but is now superimposed by what the authors deem the "DELTA" success factors - accessible, high-quality "Data", "Enterprise" orientation, analytical "Leadership", strategic "Targets", and "Analysts" - that are associated with the transition of firms from one level of competitive strategy to the next. The authors further this presentation of the analytical DELTA by discussing the embedding of analytics in business processes, the building of an analytical culture, the continual reviewing of analytical approaches, and meeting challenges along the way.

    According to research conducted by the authors, 40% of major business decisions are not based on facts, but on the manager's gut. As the authors point out, "sometimes intuitive and experience-based decisions work out well, but often they either go astray or end in disaster: executives pursue mergers and acquisitions to palliate their egos, neglecting the sober considerations that create real value; banks make credit and risk decisions based on unexamined assumptions about always-rising asset values; governments rely on sparse intelligence before deciding whether to wage war. Such are the most extreme cases of ill-informed decision making. In other cases, nonanalytical decisions don't lead to tragedy, but they do leave money on the table: businesses price products and services based on their hunches about what the market will bear, not on actual data detailing what consumers have been willing to pay under similar circumstances in the past; managers hire people based on intuition, not on an analysis of the skills and personality traits that predict an employee's high performance; supply chain managers maintain a comfortable level of inventory, rather than a data-determined, optimal level; baseball scouts zoom in on players who 'look the part', not on those with the skills that - according to analytics - win games". And "while analytics are not perfect, we prefer them to the shoddy alternatives of bias, prejudice, self-justification, and unaided intuition. Humans often make long lists of excuses not to be analytical, but there's plenty of research showing that data, facts, and analysis are powerful aids to decision making, and that the decisions made on them are better than those made through intuition or gut instinct. Therefore, use analytics. If you can measure and analyze something, do it - but don't forget to incorporate your experience, knowledge, and qualitative insights around the world".

    The point of this book is to present a set of tools to make one's firm more analytical, and demonstrate that becoming more analytical should be an essential concern for the entire organization. In essence, the authors present analytics to readers who do not necessarily want to transform their firms into analytical competitors, but to move them to greater analytical maturity. This reviewer particularly enjoyed the second part of this book, which discusses various topics centered around the concern of staying analytical. For example, the authors discuss the difference between "craft" and "industrial" approaches to employing business analytics, where the former is a one-time effort that is inherently limited in effect, and the latter takes more time and effort up front but leads to instantaneous automated decision making. Accompanying this discussion is an explanation on how embedded predictive analytics fits into claims processing in the insurance industry, and a well presented diagram by SPSS that shows how manual and automated or partially automated decision making can be joined together in one overall process, reminiscent of what James Taylor and Neil Raden present at length in "Smart (Enough) Systems: How to Deliver Competitive Advantage by Automating Hidden Decisions". The authors later discuss what their research has concluded on how to overcome obstacles, or "sticking points" specific to embedded analytics implementations.

    The chapter entitled "Build an Analytical Culture" combined with the earlier chapter "Analysts" from the first part of the book are especially well written, incorporating discussions on how to start and grow an analytical culture, as well as how to attract and retain analytical talent. In the closing chapters, the authors present what they do and do not promise, and as a consultant this reviewer especially appreciated this aspect of this text; regarding the latter, "analytical decisions aren't the only ones that will lead to success", "your analytical decisions won't always be perfect", "you'll need to develop new analytically based insights to stay ahead of the competition", "sometimes the world will change, and invalidate the models that guide your decisions", and "analytics are not all you need to make good decisions"; regarding the former, "you'll make better strategic decisions", "you'll make better tactical and operational decisions", "you'll have a better ability to solve problems", "you'll have better business processes", "you'll be able to make faster decisions and get more consistent results", "you'll be able to anticipate shifting trends and market conditions", and "you'll get better business results". In the view of this reviewer, this book is not only appropriate for business readers new to analytics, but for consultants and other practicing individuals already comfortable with analytics who want to continue to demonstrate the value of analytics to clients. Well recommended.
  • Amazon Customer
    5.0 out of 5 stars Five Stars
    Reviewed in India on 27 August 2017
    Format: HardcoverVerified Purchase
    book is in good condition