The challenges of business analytics: Successes and failures

Abstract

The successful use of business analytics is an important element of a company’s success. Business analytics enables analysts and managers to engage in an IT-driven sense-making process in which they use the data and analysis as a means to understand the phenomena that the data represent”. Not all organizations apply business analytics successfully to decision making. When used correctly, the actionable intelligence gained from a business analytics program can be utilized to improve strategic decision making. Conversely, an organization that does not utilize business analytics information appropriately will not experience optimal decision making; failing to realize the full potential of a data analytics program. This paper examines some organizations that implemented data analytics programs; both successfully and unsuccessfully, and discuss the implications for each organization. Based on the lesson learned, we present ways to implement a successful business analytics program.