How can data be used to resolve conflicts in business strategy?
Strategic power is data analaysis intelligence. In an increasingly dynamic business environment strategic power manifests as the capacity of an entity to capture, process and interpret big data in order to reach quick decisions. Those entities which have invested in effective technology systems allowing them to engage in data analytics have a hindsight versus competition as they are able to adjust strategy based on objective metrics.
Examples:
- real time adjustments to stock order levels given customer demands
- customer segmentation for effective marketing campaigns
- daily monitoring of energy costs and simultaneous adjustment for improving profitability
- Website traffic analysis in order to evaluate popularity of products