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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.
- Sales Rank: #173224 in Books
- Published on: 2010-02-08
- Original language: English
- Number of items: 1
- Dimensions: 9.48" h x .84" w x 6.60" l, 1.04 pounds
- Binding: Hardcover
- 240 pages
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.
Most helpful customer reviews
204 of 230 people found the following review helpful.
Pointless, meandering prose
By Dr George Chua
This book contains some occasional flashes of brilliance, like Figure 1-1 which succinctly summarizes the key questions addressed by analytics. The rest of the book is padded with pointless, meandering and buzzwords-laden prose. Case in point:
"Stage 5 organizations develop a robust information management environment that provides an enterprise wide set of systems, applications, and governance processes. They begin by eliminating legacy systems and old spaghetti code and press forward to eliminate silos of information like data marts and spreadsheet marts. They hunt for pockets of standalone analytic applications and either migrate them to centralized analytic applications or shut them down."
The entire book actually reads like that.
As an applied statistician and an avid reader of business books, I cannot - for the life of me - imagine why people will want to write a book like this. What is the target reader of such a book? Technical professionals like myself will find the book absolutely useless to guide analytical projects. Business professionals will be confused and put off by all the buzzwords.
43 of 47 people found the following review helpful.
A good how-to book for adopting analytics
By James Taylor
I received a pre-release copy of Tom Davenport' new book Analytics at Work: Smarter Decisions, Better Results. The book is a follow-on to Competing on Analytics: The New Science of Winning and is a shorter, pithier book than its predecessor. Once again Tom collaborates with Jeanne Harris and this time Robert Morison of the Concours group. Where the previous book focused on so-called analytic competitors, this is about "analytics for the rest of us". It is a very readable book with some good practical advice that does not require the remaking of your company in a new image. It is also a quick read, it is only 180 pages or so, which should help get more people to read it.
And I hope people do read it. As Tom says "The unexamined decision isn't worth making" and too many companies and organizations are making unexamined decisions, failing to apply data they have about what works and what does not, making the same mistakes over and making dumb decisions. Like Tom I think it is time for this to stop and this book will tell you how.
The book's focus is broad, covering how analytics can address key questions of information and insight in each of the past, present, future - reporting, alerts and forecasting give information in the past, present and future while modeling, recommendations and predictions/optimization do the same for insight. For me the most useful part of the book is part one - a set of chapters describing The Analytic DELTA - Data, Enterprise, Leadership, Targets and Analysts - what Tom regards as the 5 critical elements of successful analytic adoption:
* D - accessible, high quality data - I particularly like the focus on uniqueness as a criteria and on using the business need (decision) to drive data quality and integration
* E - enterprise orientation not fractured analytic projects
* L - analytical leadership
* T - strategic targets - a crucial element, that of focusing on using analytics to develop distinctive capabilities. This chapter has a great list of processes that lend themselves to analytics and a very helpful "ladder of analytic applications" to develop from simple to more complex analytic solutions
* A - analysts - a nice chapter with good thoughts on how to manage analysts as a strategic resource.
Part two addresses how to stay analytical through embedding analytics in business processes, building an analytic culture, reviewing your business comprehensively and embarking on an analytical journey towards "more analytical decisions and better results." I really liked the focus on embedding analytics in business processes - this is a topic close to my heart and one we discussed in Smart Enough Systems: How to Deliver Competitive Advantage by Automating Hidden Decisions. The authors do a nice job of explaining why organizations need to adopt a test and learn mindset, to be always unsatisfied and mindful of change and to focus on an "industrial" analytic process.
The authors end by pointing out that becoming analytic is not a one-time activity but must be ongoing - it is a journey which organizations must begin, where they must build momentum and where they must go from thinking of analytics to thinking about decisions and decision making, from analytic management to decision management.
It's a great book and you should buy it.
19 of 20 people found the following review helpful.
Analytics at Work, actionable and practical advice on working with information
By Mark P. McDonald
Analytics is a hot topic and executives looking to get value from business intelligence. This book discusses how they do that. I recommend this book as perhaps THE book for people looking to establish and sustain an ability to use information in decision-making and process execution.
There is a sweet spot for business books between the illustration of a business idea and a discussion of its practical implementation. Business books that are too high level offer great ideas that appear realistic only to angels. Too low of a level and it's a technical manual that makes the idea seem mundane. I mention this because Analytics at Work rests firmly in the sweet spot between these extremes.
Davenport, Harris and Morison have taken ideas originally expressed in Competing on Analytics and taken them to the next level - reality. If competing on analytics describes the characteristics of an `analytic competitor' and their principles, then this book moves from principle to practice discussing issues from data management, through to changes in corporate structure and culture. The book is comprehensive without being a compendium. It is clearly written to provide a guide that helps you apply analytics to your situation without being a set of instructions that are applicable to few people.
Strengths:
The book has frequent and recognizable examples of executives and applications of analytics. These examples illustrate the author's points without appearing contrived. The examples and case studies are a real strength particularly as they come from companies with different levels of analytic intensity. This gives the reader the ability to see how analytics comes in many sizes and fits different situations.
A practical discussion of the issues related to analytics rather than a relentless boosting of the idea and principles. The authors recognize that business intelligence has been around for a while, that people will adopt analytics at different levels of intensity and that makes the book real to executives and practitioners.
The book offers a comprehensive discussion of the strategies, organization structure and execution implications of analytics in the enterprise. For a 214-page book, Analytics at Work covers a lot of ground without seeming rushed or superficial.
Graphical, the book makes effective use of frameworks and diagrams that bring the concepts into tighter focus and reality. Executives can use these diagrams to understand and perhaps more importantly to share with others to explain how analytics apply to their business.
Challenges:
While the book discusses analytics at all levels, it tends to concentrate analytics activities into a specific group of subject matter experts. While I agree that analytics requires specific skills, setting these `quants' up as a special group may limit the spread of analytics across the enterprise. This is a minor point that does not reduce the value of the book.
Overall Analytics at Work is a rare book that covers both the concept and the implementation of a business idea. I recommend the book as it represents a well-balanced, action oriented approach that executives should read to raise the value of information in their enterprise.
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