Why Analytics Matter, January 5, 2014
By: Germar E. Reed
As we reach the midpoint of 2014, we are in the middle of a fundamental transformation in the way businesses view analytics. Analytics are now seen as core to a business’ growth strategy and means for measuring, implementing and sustaining success. I am extremely pleased to see this happen and that marketing analyst no longer have to fight for the value of analytics. The fact is, those who fail to invest in understanding what drives their business will find it hard to compete in a world that thrives on data. This is why analytics matters.
Analytics are now being used as the basis for new products and revenue streams. The breadth of decisions analytics support and drive is increasing every day. The next few years will drive growth for companies that utilize data, while pushing those that loathe data in data driven industries toward irrelevance.
One of the trends really picking up steam is the need to make analytics operational. As we generate more data and we discover more new insights than ever, attention is turning to how we turn those insights into action and action into value. I believe that this will be one of the biggest trends going into 2015.
I hope you’ll join us at Growth Strats LLC in the effort to continue demonstrating to Detroit and the world that analytics matter! I look forward to blogging with you!
Germar Reed is a Partner at Growth Strats, LLC, managing the Advanced Analytics Group.