Big Data, Analytics and the Path From Insights to Value SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Innovation & Entrepreneurship
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Big Data, Analytics and the Path From Insights to Value
This is an MIT Sloan Management Review article. To understand the challenges and opportunities associated with the use of business analytics, MIT Sloan Management Review, in collaboration with the IBM Institute for Business Value, conducted a survey of more than 3,000 business executives, managers and analysts from organizations located around the world. The survey was part of the 2010 New Intelligent Enterprise Global Executive Study and Research Project, which attempts to understand better how all organizations are trying to capitalize on information and apply analytics today and in the future. One of the most significant findings is that there is a clear connection between performance and the competitive value of analytics. Survey respondents who agreed that the use of business information and analytics differentiated them were twice as likely to be top performers. Three stages, or capability levels, of analytics adoption emerged from the research: aspirational, experienced and transformed. The article provides a comprehensive description of each, enabling organizations to identify where they fall in the continuum. In addition, the authors include suggestions for the best entry points and techniques for each level, and measures to avoid the most common pitfalls. Based on insights from the survey, case studies and interviews with experts, the authors also describe an emerging five-point methodology for successfully implementing analytics-driven management and rapidly creating value -as leading businesses are already managing to do. These include (1) focus on the biggest and highest data priorities, (2) within each of those priorities, start by asking questions, not by looking at the available data, (3) embed insights into business processes to make them more understandable and actionable, (4) keep existing capabilities and tools while adding new ones and (5) develop an overarching information agenda that enables decision making and strategy for the future.
Authors :: Steve LaValle, Eric Lesser, Rebecca Shockley, Michael S. Hopkins
Swot Analysis of "Big Data, Analytics and the Path From Insights to Value" written by Steve LaValle, Eric Lesser, Rebecca Shockley, Michael S. Hopkins includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Analytics Survey facing as an external strategic factors. Some of the topics covered in Big Data, Analytics and the Path From Insights to Value case study are - Strategic Management Strategies, Innovation, Technology and Innovation & Entrepreneurship.
Some of the macro environment factors that can be used to understand the Big Data, Analytics and the Path From Insights to Value casestudy better are - – digital marketing is dominated by two big players Facebook and Google, increasing commodity prices, wage bills are increasing, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing energy prices, increasing household debt because of falling income levels, technology disruption,
increasing inequality as vast percentage of new income is going to the top 1%, increasing transportation and logistics costs, etc
Introduction to SWOT Analysis of Big Data, Analytics and the Path From Insights to Value
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Big Data, Analytics and the Path From Insights to Value case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Analytics Survey, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Analytics Survey operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of Big Data, Analytics and the Path From Insights to Value can be done for the following purposes –
1. Strategic planning using facts provided in Big Data, Analytics and the Path From Insights to Value case study
2. Improving business portfolio management of Analytics Survey
3. Assessing feasibility of the new initiative in Innovation & Entrepreneurship field.
4. Making a Innovation & Entrepreneurship topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Analytics Survey
Strengths Big Data, Analytics and the Path From Insights to Value | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Analytics Survey in Big Data, Analytics and the Path From Insights to Value Harvard Business Review case study are -
Ability to recruit top talent
– Analytics Survey is one of the leading recruiters in the industry. Managers in the Big Data, Analytics and the Path From Insights to Value are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Superior customer experience
– The customer experience strategy of Analytics Survey in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Effective Research and Development (R&D)
– Analytics Survey has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study Big Data, Analytics and the Path From Insights to Value - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Cross disciplinary teams
– Horizontal connected teams at the Analytics Survey are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Organizational Resilience of Analytics Survey
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Analytics Survey does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Sustainable margins compare to other players in Innovation & Entrepreneurship industry
– Big Data, Analytics and the Path From Insights to Value firm has clearly differentiated products in the market place. This has enabled Analytics Survey to fetch slight price premium compare to the competitors in the Innovation & Entrepreneurship industry. The sustainable margins have also helped Analytics Survey to invest into research and development (R&D) and innovation.
Learning organization
- Analytics Survey is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Analytics Survey is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Big Data, Analytics and the Path From Insights to Value Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Training and development
– Analytics Survey has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Big Data, Analytics and the Path From Insights to Value Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Ability to lead change in Innovation & Entrepreneurship field
– Analytics Survey is one of the leading players in its industry. Over the years it has not only transformed the business landscape in its segment but also across the whole industry. The ability to lead change has enabled Analytics Survey in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Diverse revenue streams
– Analytics Survey is present in almost all the verticals within the industry. This has provided firm in Big Data, Analytics and the Path From Insights to Value case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Successful track record of launching new products
– Analytics Survey has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Analytics Survey has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Operational resilience
– The operational resilience strategy in the Big Data, Analytics and the Path From Insights to Value Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Weaknesses Big Data, Analytics and the Path From Insights to Value | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Big Data, Analytics and the Path From Insights to Value are -
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Big Data, Analytics and the Path From Insights to Value, in the dynamic environment Analytics Survey has struggled to respond to the nimble upstart competition. Analytics Survey has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Analytics Survey supply chain. Even after few cautionary changes mentioned in the HBR case study - Big Data, Analytics and the Path From Insights to Value, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Analytics Survey vulnerable to further global disruptions in South East Asia.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Analytics Survey is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Big Data, Analytics and the Path From Insights to Value can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Lack of clear differentiation of Analytics Survey products
– To increase the profitability and margins on the products, Analytics Survey needs to provide more differentiated products than what it is currently offering in the marketplace.
Aligning sales with marketing
– It come across in the case study Big Data, Analytics and the Path From Insights to Value that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case Big Data, Analytics and the Path From Insights to Value can leverage the sales team experience to cultivate customer relationships as Analytics Survey is planning to shift buying processes online.
Need for greater diversity
– Analytics Survey has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
Low market penetration in new markets
– Outside its home market of Analytics Survey, firm in the HBR case study Big Data, Analytics and the Path From Insights to Value needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Products dominated business model
– Even though Analytics Survey has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - Big Data, Analytics and the Path From Insights to Value should strive to include more intangible value offerings along with its core products and services.
Interest costs
– Compare to the competition, Analytics Survey has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study Big Data, Analytics and the Path From Insights to Value, it seems that the employees of Analytics Survey don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
High cash cycle compare to competitors
Analytics Survey has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Opportunities Big Data, Analytics and the Path From Insights to Value | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study Big Data, Analytics and the Path From Insights to Value are -
Better consumer reach
– The expansion of the 5G network will help Analytics Survey to increase its market reach. Analytics Survey will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
Developing new processes and practices
– Analytics Survey can develop new processes and procedures in Innovation & Entrepreneurship industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Analytics Survey is facing challenges because of the dominance of functional experts in the organization. Big Data, Analytics and the Path From Insights to Value case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Analytics Survey to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Analytics Survey to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Analytics Survey to hire the very best people irrespective of their geographical location.
Leveraging digital technologies
– Analytics Survey can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Using analytics as competitive advantage
– Analytics Survey has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Big Data, Analytics and the Path From Insights to Value - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Analytics Survey to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Loyalty marketing
– Analytics Survey has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Analytics Survey in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Innovation & Entrepreneurship segment, and it will provide faster access to the consumers.
Building a culture of innovation
– managers at Analytics Survey can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Innovation & Entrepreneurship segment.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Analytics Survey in the consumer business. Now Analytics Survey can target international markets with far fewer capital restrictions requirements than the existing system.
Manufacturing automation
– Analytics Survey can use the latest technology developments to improve its manufacturing and designing process in Innovation & Entrepreneurship segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Creating value in data economy
– The success of analytics program of Analytics Survey has opened avenues for new revenue streams for the organization in the industry. This can help Analytics Survey to build a more holistic ecosystem as suggested in the Big Data, Analytics and the Path From Insights to Value case study. Analytics Survey can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Threats Big Data, Analytics and the Path From Insights to Value External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Big Data, Analytics and the Path From Insights to Value are -
Regulatory challenges
– Analytics Survey needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Innovation & Entrepreneurship industry regulations.
High dependence on third party suppliers
– Analytics Survey high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Analytics Survey with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Analytics Survey needs to understand the core reasons impacting the Innovation & Entrepreneurship industry. This will help it in building a better workplace.
Easy access to finance
– Easy access to finance in Innovation & Entrepreneurship field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Analytics Survey can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Analytics Survey in the Innovation & Entrepreneurship industry. The Innovation & Entrepreneurship industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Big Data, Analytics and the Path From Insights to Value, Analytics Survey may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Innovation & Entrepreneurship .
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Analytics Survey business can come under increasing regulations regarding data privacy, data security, etc.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Analytics Survey.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Stagnating economy with rate increase
– Analytics Survey can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. Analytics Survey will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
Weighted SWOT Analysis of Big Data, Analytics and the Path From Insights to Value Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Big Data, Analytics and the Path From Insights to Value needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study Big Data, Analytics and the Path From Insights to Value is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study Big Data, Analytics and the Path From Insights to Value is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of Big Data, Analytics and the Path From Insights to Value is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Analytics Survey needs to make to build a sustainable competitive advantage.
