Why Analytics Will Be the Next Competitive Edge

Abstract

Analytics is becoming a competitive edge for organizations. Once being a "nice-to-have", applying analytics, especially predictive business analytics, is now becoming mission-critical. The use of is a skill that is gaining mainstream value due to the increasingly thinner margin for decision error. There is a requirement to gain insights, foresight and inferences from the treasure chest of raw transactional data (both internal and external) that many organizations now store (and will continue to store) in a digital format.

Keywords: business analytics, analytics, predictive analytics, prescriptive analytics

JEL Classification: COO