Analytical advantage: What is it and how to achieve it?

The interest in understanding what it is and how to achieve an advantage analyticsAnalytics refers to the process of collecting, Measure and analyze data to gain valuable insights that facilitate decision-making. In various fields, like business, Health and sport, Analytics Can Identify Patterns and Trends, Optimize processes and improve results. The use of advanced tools and statistical techniques is essential to transform data into applicable and strategic knowledge.... is growing more and more in companies. But, what happens with competitive advantage?

More and more people argue that it is no longer necessary to focus on the competition and on how to differentiate oneself, but on data, its management and analysis; placing the customer at the center and personalizing their experience, in such a way that competition no longer makes sense.

Is it time to stop competing to start measuring?

One of the most important pillars of this change in approach is digitalization. In its Gartner CIO Agenda Survey of 2018, the results show that 95% of CIOs expect their jobs to change due to digitalization. At least the 84% de los principales CIO encuestados son responsables de áreas del negocio fuera de la TI tradicional. Se les pidió que nombraran las principales tecnologías diferenciadoras, and business intelligence (WITH A) y la analítica siguen ocupando el primer lugar en la lista. Las empresas líderes en cada área las consideran estratégicas.

Then, la ventaja analítica consiste en identificar la dirección a seguir para desarrollar planes de ventas y marketing, identificar sus puntos de venta únicos, su propuesta de valor, así como los mercados objetivo, productos más vendidos y verticales a perseguir, entre otras cosas que descubrirán. . en el proceso. Cualquier ejercicio de redacción de un plan estratégico de negocios requiere o, rather, requiere un análisis competitivo basado en información relevante que resulta de una correcta gestión de los datos.

There is 3 categorías principales o tipos de análisis de datos que se realizan para desarrollar esta ventaja:

1. Análisis comercial: nos ayuda a conocer el negocio en sí, sus fortalezas y debilidades, a partir de un análisis profundo. Logra mejorar procesos, proyecciones, reducir costos y riesgos, entre muchos otros beneficios que harán que el negocio sea sostenible y competitivo.
2. Customer analysis: Centrar toda la operación en el cliente y utilizar la cantidad de información que cada día nos deja sobre su comportamiento en nuestra web, en la tienda, en el teléfono, en las redes sociales y mucho más, will allow us to customize each experience of our customers. It is at this point where it is no longer so much about competitor analysis, but about using all the information that customers provide us and that we already have within the organization, to establish a lasting and unique relationship with those who bet on us. .
3. Analysis of products or services: In line with the previous analysis, exposing the product or service to customer feedback and incorporating it into the creative process is key when it comes to gaining an edge over the market.

It may interest you: Machine learning and data management: uses and good practices

How do you do it then? Analyzing data

The use of data analysis is increasing across all industries. It is driven by concepts and trends such as Big Data and Data Science, innovative technologies such as distributed computing and in-memory databases, as well as the rapid increase of data available for processing.

The clearer, more sophisticated and, therefore, sustainable the analytical advantage, the harder it will be for competitors to copy and, therefore, surpass your advantage.

To achieve this, it is necessary to understand consumer behavior and sales data from a variety of sources. Many companies are adopting innovative analytical approaches to better understand consumer behavior and increase profits.

Una de las ideas clave del Informe Gartner mencionado anteriormente es que la digitalización de las empresas está transformando el rol del CIO de “ejecutivo de entrega a ejecutivo de negocios: desde el control de costos y los procesos de reingeniería hasta la generación de ingresos y explotación de datos”.

La mayoría de nosotros estamos familiarizados con la frase “data is the new oil” y no se refiere particularmente al precio, que ahora ha caído drásticamente, sino al trabajo de refinamiento que se necesita para que sea de valor para la sociedad o las empresas. Los CIO son más que conscientes del rápido aumento de los volúmenes de información que fluyen dentro y entre las empresas.

Many professionals and researchers have associated big data with the next frontier of innovation, competition and productivity, while others have even claimed that it is a revolution that will transform the way we live, we work and think.

What is undeniable is that the more we understand each of our customers and make their shopping experience unique, the less competition we will have. Achieving an analytical advantage implies a paradigm shift, and this is only possible with correct, adequate and thorough data analysis.

Companies manage to develop an evolutionary aptitude, since the information generated through their data intelligence supports the dynamic capabilities of a company that, at the same time, se traduce en capacidades operativas fortalecidas.