Data & Analytics P. 3

Recording expectations improves decision quality, risk management, and leadership development.

Retailers can boost profits and prevent abuse by tailoring their return policies with analytics.

MIT professor Munther Dahleh proposes a marketplace for data that bases the cost of data on the financial value it generates.

Businesses can innovate and thrive by nurturing a “creator” mindset.

The 2018 Data & Analytics Global Executive Study and Research Report by MIT Sloan Management Review finds that innovative, analytically mature organizations make use of data from multiple sources: customers, vendors, regulators, and even competitors. The report, based on MIT SMR’s eighth annual data and analytics global survey of over 1,900 business executives, managers, and analytics professionals, explores companies leading the way with analytics and customer engagement.

Even if your job is high paying, it is wise to ask yourself whether it is common and repetitive enough to be done by a machine. If you conclude that it is, it’s time to look for — or create — less commoditized work.

The successful use of analytics in sports, both on the field and off, comes down to integrating analytics within an organization. Three strategies — collaborative analytics, a common language, and accessible technology — are key.

Disruption from artificial intelligence (AI) is here, but many company leaders aren’t sure what to expect from AI or how it fits into their business model. Yet with change coming at breakneck speed, the time to identify your company’s AI strategy is now. MIT Sloan Management Review has partnered with The Boston Consulting Group to provide baseline information on the strategies used by companies leading in AI, the prospects for its growth, and the steps executives need to take to develop a strategy for their business.

Customers’ or suppliers’ descriptions of what they need may provide design elements for your next new product. Companies should listen carefully and identify whether need statements have opportunities for innovation embedded in them.

Changing consumer expectations, new regulations, and an influx of patient data has created a perfect storm for health care organizations like Schumacher Clinical Partners to rethink how they leverage digital tools to better serve their patients and providers.