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Societal Value of Analytics

by Dashboard Insight, Dashboard InsightMonday, July 15, 2013

Is the Purpose of Analytics Just to Turn a Buck?

Ask just about any company why they are jumpstarting an analytics program and you’ll undoubtedly hear phrases like “We need to reduce costs” or “We must find new customers” or even “We need to shorten our product time-to-market.” And while these are all definitely sound reasons to initiate and nurture an analytics program, there are other rationales beyond “business value” for architecting and implementing an analytical infrastructure and applications.

A recent Financial Times article mentions how top global business schools are trying to get away from primacy of “Increasing Shareholder Value.” Indeed, MBA students around the world are generally taught that increasing shareholder value is job number one, and they should do so by cutting costs wherever possible, expanding revenue streams, improving employee productivity and more.

For MBAs, the focus on short term shareholder value is mostly because it’s uncomplicated. “If we can skip the discussions of corporate purpose by stipulating that corporations exist to create shareholder value, then it makes it easier to get down to the more technical details of how we get there,” says Gerald Davis, management professor at University of Michigan

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Source: SmartData Collective

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