Thomas Davenport, business analytics expert, believes that analytics are an important decision-making tool for all levels of an organization. Everyone has received credit card offers in the mail from Capital One but not everyone realizes that our response to those offers is carefully monitored. If a 12.9 percent balance transfer offer doesn’t generate a response, soon a 12.8 offer will arrive in the mail. If a red envelope doesn’t get someone’s attention, soon a blue envelope will arrive. Capital One doesn’t stop there, continuing to keep track of their customers so they know that it is a valued customer on the phone to close their account and that they should be transferred to a customer service specialist right away who can make deals and keep the customer. This focus on analytics even on the front-side of the company has returned more value to Capital One shareholders than any other company in the United States. That is just one example of a company using analytics to help make faster, more informed decisions.
Thomas Davenport is a renowned thought-leader who has helped hundreds of companies worldwide to revitalize their management practices. He combines his interests in business, research, and academia as the Presidentâ€™s Distinguished Professor in Management and Information Technology at Babson College and as a Visiting Professor at the Harvard Business School for the 2012-2013 academic year. Heâ€™s also co-founder and research director of the International Institute for Analytics, and a Senior Advisor to Deloitte Analytics. Heâ€™s the author of several books, most recently Keeping Up With the Quants: Your Guide to Understanding and Using Analytics.
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