Other parts of this series:
- Commit and invest: Winning with Analytics, Part 1 | Insurance Insight of the Week
- People first: Winning with Analytics, Part 2 | Insurance Insight of the Week
- Data sources, tools and techniques: Winning with Analytics, Part 3 | Insurance Insight of the Week
- Smarter decisions can help insurers embrace change: Winning with Analytics, Part 4 | Insurance Insight of the Week
A joint study by Accenture Analytics and MIT reveals that high performers are almost four times as likely to report receiving a significant ROI from their analytics investments.
Most insurers agree that analytics is important for their organization’s future. But recent research from the Accenture and MIT Alliance in Business Analytics reveals a gap between two groups of companies in their use of analytics. In this Insurance Insight of the Week, we’ll look at how high performers and low performers use analytics.
High performers invest more in analytics—and get more out of their investments
Click the image below for a large version of the Insurance Insight of the Week.
Clearly, commitment to analytics is crucial, and investment is indispensable. High performers see better results when they adopt analytics because they adapt their enterprises to leverage analytics’ true power—embedding analytics into decision-making processes so they can make better, smarter decisions that are more likely to lead to tangible business results.
To learn more, download the full report, Winning with Analytics. Many thanks to my colleagues, Brian McCarthy and Lynn LaFiandra, as well as David Simchi-Levi and Jyo Gadewadikar at MIT, for sharing their expertise.