How Analytics Helps An Organization Optimize Their...

Introduction Analytics is defined, according to online-behavior.com, as the â€Å"process of obtaining an optimal or realistic decision based on existing data.† [1]. Davenport and Harris (2007), defined analytics, as the â€Å"extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.† [2]. An article titled Outsmart the Competition by Jackie Zack in Teradata Online magazine states that â€Å"analytics can help an organization optimize their business processes to make them effective as possible.† [3]. It is a proven fact that proper use of analytics can lead an organizations to success, providing them with that distinctive advantage over their competitors. In†¦show more content†¦In Jamaica, its headquarters, Digicel controls 70 percent of the mobile phone market and hopes to actively dominate the cable TV and internet broad band market. The secret behind Digicel’s success is that it has a devoted business intelligence and analytics group and a marketing department responsible for analyzing critical consumer data gathered from market surveys and market research. Digicel’s success can be attributed to the fact that the company is able to determine customers touch points by knowing exactly what customers want or desire from a mobile phone provider. The use of analytic tools have helped Digicel achieve this position, which is having the ability to predict and know what customers want and anticipate their next purchase moves. For example, Digicel has just branched into the cable TV and internet broad band market. The reason for this diversification is as a result of extensive market analysis of the cable TV and internet broad band market which currently has only one major player (Flow Cable Company) with a poor customer satisfaction rate. Digicel was able to capitalize on this opportunity because of the data gathered from customers that sho wed that they desired better cable and internet broad band service. The company has applied the use of analytics and quantitative approaches in areas such as primary consumer surveys, concept development testing, advertising testing,