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The age of analytics: Competing in a data-driven world

December 2016—Big data’s potential just keeps growing. Taking full advantage means companies must incorporate analytics into their strategic vision and use it to make better, faster decisions.
Age of Analytics

From the McKinsey Quarterly

Article - McKinsey Quarterly

Making data analytics work for you—instead of the other way around

– Does your data have a purpose? If not, you’re spinning your wheels. Here’s how to discover one and then translate it into action.
Article - McKinsey Quarterly

Straight talk about big data

– Transforming analytics from a “science-fair project” to the core of a business model starts with leadership from the... top. Here are five questions CEOs should be asking their executive teams.
Article - McKinsey Quarterly

An executive’s guide to machine learning

– It’s no longer the preserve of artificial-intelligence researchers and born-digital companies like Amazon, Google, and Netflix.

NEW USE CASES

Article

The secret to smarter fresh-food replenishment? Machine learning

– With machine-learning technology, retailers can address the common—and costly—problem of having too much or too little fresh food... in stock.
Article

How analytics can improve asset management in electric-power networks

– New technologies and advanced computational methods can help transmission and distribution companies save money, reduce risk,... and improve the reliability of their critical assets.
Article

How retailers can improve price perception—profitably

– New methodologies, powered by big data and advanced analytics, can help retailers attract value-conscious consumers without sacrificing... margins.
Article - McKinsey Quarterly

Using buzz analytics to gain a product and marketing edge

– By capturing and analyzing social-media conversations, companies can improve their offerings and margins.

ORGANIZING FOR SUCCESS

Article

Using agile to accelerate your data transformation

– Data-management issues can undermine companies’ ability to create value from analytics. Some businesses are using agile principles... to make sure data are available when and where they are needed.
Survey

The need to lead in data and analytics

– In a new survey, executives say senior-leader involvement and the right organizational structure are critical factors in how successful... a company’s analytics efforts are, even more important than its technical capabilities or tools.

INDUSTRY PERSPECTIVES

Article

Winning in consumer packaged goods through data and analytics

– Our 2016 survey of North American companies highlights best practices in customer and channel management.
Article

Health systems: Improving and sustaining quality through digital transformation

– As the price of healthcare rises and safety lapses persist, developed countries are seeking ways to lower costs and improve quality.... Many are finding the solution in digital innovation.
Article - McKinsey Quarterly

Telcos: The untapped promise of big data

– The industry is awash in information, but only a few companies manage it effectively.
Article - McKinsey Quarterly

Improving semiconductor R&D

– Using data-driven insights speeds up delivery time, helps change mind-sets, and allows companies to tackle more complex projects.
Article

Transforming into an analytics-driven insurance carrier

– Using data is nothing new to insurance carriers and actuaries. Yet the boom in advanced analytics is driving fundamental change.

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More insights

Report - McKinsey Global Institute

The age of analytics: Competing in a data-driven world

– Big data’s potential just keeps growing. Taking full advantage means companies must incorporate analytics into their strategic... vision and use it to make better, faster decisions.
Article - McKinsey Quarterly

Straight talk about big data

– Transforming analytics from a “science-fair project” to the core of a business model starts with leadership from the... top. Here are five questions CEOs should be asking their executive teams.
Article

Creating a successful Internet of Things data marketplace

– Monetizing the flood of information generated by the Internet of Things requires a well-executed strategy that creates value.
Podcast

How advanced analytics can drive productivity

– Companies have more data than ever at their disposal, but are they doing enough with it? Taking full advantage requires tackling... legal, regulatory, and talent challenges.
Article - McKinsey Quarterly

People analytics reveals three things HR may be getting wrong

– More sophisticated analyses of big data are helping companies identify, recruit, and reward the best personnel. The results can... run counter to common wisdom.
Article - McKinsey Quarterly

Using analytics to turbocharge China’s e-commerce performance

– Facing market saturation and more selective consumers, online retailers will need to make better use of data analytics to gain... ground.
Commentary

Big data analytics should be driven by business needs, not technology

– Big data analytics can deliver massive value, but too often companies let technology guide their efforts. Instead, decisions must... be based on business priorities.
Article - McKinsey Quarterly

Using buzz analytics to gain a product and marketing edge

– By capturing and analyzing social-media conversations, companies can improve their offerings and margins.
Interview

How companies are using big data and analytics

– Just how do major organizations use data and analytics to inform strategic and operational decisions? Senior leaders provide insight... into the challenges and opportunities.
Survey

The need to lead in data and analytics

– In a new survey, executives say senior-leader involvement and the right organizational structure are critical factors in how successful... a company’s analytics efforts are, even more important than its technical capabilities or tools.
Article

Improving the semiconductor industry through advanced analytics

– New techniques can help companies make better decisions by using accurate, reliable, and scientific information to analyze risk,... optimize processes, and predict failure.

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