6 things to focus on in 2014 analytics strategy

2014 is expected to be the year when successful companies take Big Data analytics and utilize it for growth and competitive advantage. The analytics experts from 3 major companies, Johnson & Johnson, InterContinental Hotels Group and HP, share insights with Data Driven Business on how to best use analytics to get ahead.

Experts discussed how to use data strategically in 2014 for best competitive advantage, integrate different data sources to know exactly when and how to speak to customers, and how to become a data-driven organization with a strong analytics culture at the webinar “Fine-tune your analytics strategy for 2014”.

When they were asked what things should be added to every company’s analytics strategy in 2014, these were the responses:

Stephen Sharpe, Director of Global Strategic Analytics of Johnson & Johnson states, “(1) Need to start working on a cloud based system to integrate all data and (2) broader integration and training across the various sectors to share best practices.”

Larry Seligman, VP, Advanced Consumer Analytics, InterContinental Hotels Group says, “(3) We need a new definition of data integration”. (4)” Now that we have new metrics, how can we value projects and programs that we have going in new ways that we didn’t understand the value of before? Can we now quantify things that we previously could not quantify?”

Mazhar Hussain, Leader Big Data Practices, HP gives insight on the importance of analytics as a service. “(5) Analytics as a service is going to take up big stream going forward with a lot of traction in the market, and we are seeing the mid-sized and small customers who are also trying to take big advantage of that.” He also said, “(6) Blessing of analytics across the culture of the company. It is important to have the right kind of strategy implemented in the company. A lot of companies are looking at Chief Data Officer and Chief Analytics Officer and trying to bless that in their culture so that the implementation is across the board and they can receive the benefit of that implementation. “

Full webinar recording is available here:

This topic is discussed in more detail at the Useful Business Analytics in Boston, June 10-11.