Top-performing companies were 15 times more likely to apply analytics to strategic decisions than their underperforming peers, according to a new IBM study of the role information-based decision making is playing in successful business strategies during the current economic cycle.
In addition, top performers were 22 times more prepared to challenge the status quo in their organizations, rethink current strategies and business processes, and aggressively apply and act on new insights derived from analytics.
The IBM study also found that top performers were six times more likely to entrust a broader base of employees with greater authority to make decisions and act on insights.
"A critical part of this success is that these organizations were able to drive change by having the right management systems, tools, and culture in place -- creating, in effect, an organization that seeks and evaluates, and is ready to act on new opportunity," said Steve LaValle, author of the study and Strategy Leader, Business Analytics and Optimization, IBM Global Business Services.
IBM's analysis also discovered having superior data governance -- assuring that data definitions were clear, relevant and accepted -- is critical the success for top performers. By a factor of three to one, the study found that top performers were much more sophisticated in their approach to governing organizational information relative to lower performing companies (42% versus 14%.)
To view the study visit www.ibm.com/gbs/intelligent-enterprise