Leveraging Business Analytics to Competitive Advantage

Abstract

We are living in the Digital World and Electronic Exchange of information is the reality today. With reliable & secured Internet available 24*7*365 days at low cost and Mobile Computing becoming the standard of life, Information exchange is happening electronically at a very rapid pace than ever before. With extensive usage of Social Media Applications, Internet of Things and other digital technologies, lots of data are transmitted across the digital networks. E-Word of Mouth is having high impact on various products/services offered by business firms. Feedbacks, Reviews, ratings or user comments about any product or service are captured digitally. Data Driven Decision making is the current business imperative and Business Analytics (BA) is one of the key capabilities that enable a company to drive effective Business Planning and help achieve Competitive Advantage. Top Management Consulting Companies like McKinsey, Boston Consulting Group, Bain & Company acknowledge Business Analytics as one of the key capabilities a company should possess to build a data driven strategy, drive business planning and gain competitive advantage. Google, Apple, Amazon, Netflix are some of the companies that have leveraged Business Analytics to drive business planning and maximize Competitive Advantage. This being the current business scenario, this paper differentiates Business Intelligence and Business Analytics,  discusses the role of BA in Business Planning and capture details of companies that have leveraged Business Analytics to gain competitive advantage.