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Analytics For Competitive Advantage: Mukund G Kallapur, Mtech Guest Faculty, BITS Pilani

The document discusses how analytics can provide competitive advantage. It outlines that data should address specific business needs and strategic goals, helping an organization make better decisions, improve operations, and transform business models. The presentation covers deciding strategic data needs, leveraging data to understand customers and markets through trends and competition, and using sources like social media to build a complete picture of customers. It emphasizes starting with a business strategy and using the right data to address priorities and answer key business questions.

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harini
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514 views15 pages

Analytics For Competitive Advantage: Mukund G Kallapur, Mtech Guest Faculty, BITS Pilani

The document discusses how analytics can provide competitive advantage. It outlines that data should address specific business needs and strategic goals, helping an organization make better decisions, improve operations, and transform business models. The presentation covers deciding strategic data needs, leveraging data to understand customers and markets through trends and competition, and using sources like social media to build a complete picture of customers. It emphasizes starting with a business strategy and using the right data to address priorities and answer key business questions.

Uploaded by

harini
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Analytics for Competitive

Advantage
Mukund G Kallapur, Mtech
Guest Faculty, BITS Pilani
Today’s Agenda
• Deciding your Strategic Data needs

• Using data to make better business decisions

• Using data to improve your operations

• Business model transformation – Data as a Business Asset

• All data is not important. Right data is !

• Strong Business case for Data

• Leveraging Smart Data for Business Success – Wharton Case Study.

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Introduction
• Data to address a specific need.
• In a business sense, data must address a specific business need.
• Help an organization reach its strategic goals.
• Generate real value.
• Start with a Strategy instead of Data !
• How you plan to use the data.
• As discussed in the first unit, data can be used in 3 major core areas –
Improvement in decision making, improving operations and making
money from data.
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Make Better Decisions
• Should be the primary goal.

• Market understanding, product development, revenue increase or acquire new


customers – All boils down to making better and informed decisions.

• Be specific – What data ? How ?

• Understand and identify your organization’s priorities and business questions which
are yet to be answered.

• For instance, how can we target a particular segment, how to increase revenue.
1/9/21 Analytics for Competitive Advantage 4
Make Better Decisions
• Source and analyse the right Data.

• Clear Data Strategy helps.

• Initially focus should be on a specific business area, such as trying to


understand your customers in a better way.

• However, the overall idea of making data driven decisions and building a
culture of data based decision making should cover the whole organization.

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Better Customer and Market
Understanding – Using Data
• Social Media plays a very important role.
• Decisions rooted in data.
• 3 key strands

• Full picture of the customers


• Trend identification
• Competition Understanding

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Build a Complete Customer
Picture
• What interests them or what makes them buy a product/service

• Reason for Buying/Shopping

• Mode of Shopping

• What would be their next buy ?

• Brand Choice
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Data Source
• Social Media – Facebook, Twitter etc. which offer targeted
advertising.

• Sentiment among the public which may affect the demand for
products/services.

• IBM in collaboration with Twitter offer a service through which


businesses can directly extract insights from the Tweets.

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Trend Spotting
• Customer behaviour or Industry wide trends.

• Identifying and analysing patterns.

• Use such Analysis to predict the future trends and take better decisions.

• Example – Marketing.

• Social Media and Internet- again !

• Retail Domain

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Understanding Competition
• Earlier it was based on the industry gossips or maybe discreetly visiting your competitor’s websites
etc.

• Data has made this very easier.

• Data is readily available !

• Google Trends – inform about the popularity of any brand or product.

• Social media analysis

• Flip side as well !!

1/9/21 Analytics for Competitive Advantage 10


Discussion Time !

1/9/21 Analytics for Competitive Advantage 11


Books to refer

1/9/21 Analytics for Competitive Advantage 12


Books to refer

1/9/21 Analytics for Competitive Advantage 13


Any Questions ??

1/9/21 Analytics for Competitive Advantage 14


Thank you

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