Friday, October 24, 2014

Top 5 Infographics of the Week: Gaining the Competitive Advantage

In the past, we were told that in order for companies to be successful, they needed four things. The company needed to be valuable, exploitable, rare, and non-substitutable. Well, the rules of the game has changed and what made your business competitive in the past may no longer work anymore.

Today, we need business intelligence and analytics to guide us and to make better decisions, especially when budgets are being squeezed. 54% of business professionals already say that their company needs to be more analytics-driven to be competitive, and they are right. The key to gaining an edge against your competitors lies in the practice of leveraging data to your advantage. Keep reading to learn more about how to get a competitive advantage.



#1: Why Business Intelligence Is Key For Competitive Advantage by Boston University Masters of Science in Computer Information Systems
  • By 2015, more than 30% of analytics projects will deliver insights based on structured data and unstructured data. 
  • 54% of business professionals say their company needs to be more analytics-driven to be competitive. 
  • Using insights from business intelligence can reduce fraud and help risk management. 
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Why Business Intelligence is Key for Competitive Advantage

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#2: Managing a Global Workforce to Gain Competitive Advantage by RedPrarie
  • Most enterprises struggle to align strategies, skills, schedules and demand. Turnover rates are high and turnover takes a toll on overall productivity. 
  • The workforce is becoming increasingly global as well. Over the next 3 years, headcounts will increase by 23% in Russia and Eastern Europe, 29% in India, and 40% in greater China. 
  • Employees across the world have largely disengaged from their work as well. The keys to engagement are to align employee goals with that of the business, to communicate values and missions, and to focus on career path development. 
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Managing a Global Workforce to Gain Competitive Advantage

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#3: Competitive Advantage: What Set You Apart Yesterday Is Now A Requirement Today by ModMedia
  • With technology, it is becoming harder to become competitive. In the past, your company needed to be valuable, exploitable, rare, non-substitutable. 
  • 4 things that used to make you stand out on the web: having a business Facebook page, creating and posting videos, having a LinkedIn company page, and having a business blog. 
  • What worked yesterday is no longer a competitive advantage today. Businesses need to localize, realize the power of mobile, cultivate long-term relationships, become thought leaders, and find their niche. 
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Competitive Advantage is What Sets You Apart

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#4: 4 Pillars of Competitive Advantage by KZO
  • The 4 Pillars of Competitive Advantage are: social, searchable, integrated, and secure.
  • 80% of Facebook users prefer to connect with brands over Facebook. 
  • Assure that your information is secure, as data compromise can have a big negative impact on a company and cost a lot of money.
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4 Pillars of Competitive Advantage

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#5: Making the Case for Business Analytics and Intelligence by Slashdot
  • Business Intelligence has come a long way over the years as technological advances paved the way for greater ventures. However, business analytics has encompassed the ideals of BI into a much more integral landscape. 
  • Business analytics includes: business intelligence, data warehousing, risk, enterprise information management, governance, compliance and more. 
  • 21% of companies with 101 to 1,000 employees have BI programs to help further their business and gain a competitive edge. 
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Making the Case for Business Analytics and Intelligence

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