A handful of the world’s companies have cracked the code on embedding analytics into every layer of their organizations. The time for simple experimentation with analytics is over—and most companies know it. Across industries, we see organizations investing heavily to integrate analytics throughout their entire business in an effort to capture a portion of the $9.5 trillion to $15.4 trillion of value that the McKinsey Global Institute estimates advanced analytics can enable across industries globally . Despite this investment, senior executives tell us that their companies are struggling to capture real value. The reason: while they’re eking out small gains from a few use cases, they’re failing to embed analytics into all areas of the organization. However, in a recent McKinsey Analytics survey of 1,000 companies with more than $1 billion in revenue and spanning 13 sectors and 12 geographies, we identified an elite group of companies that is achieving the elusive goal of analytics at scale. What does analytics at scale look like? One major US retailer responded to fast-changing consumer behaviors and fierce online competition by reshaping its entire business around analytics. A state-of-the-art analytics capability would span all eight of its business units, all six of […]
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Brief: A majority of marketers (82%) plan to boost their use of location data over the next two years...