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Analytic transformation: How to profit from a data deluge
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Abstract: Contrary to popular belief, companies are not suffering from a lack of data but a lack of institutional capabilities to transform data into higher profits. To secure the greatest returns from a company’s data requires analytic transformation — this paper describes the key elements.
Keywords: Big Data, machine learning, analytics, analytic transformation
Jacques Bughin is a senior partner at McKinsey & Company where his work focuses on high-tech, telecom and media industries. He is a director of the McKinsey Global Institute and a Fellow of ECARES and the University of Leuven. He is the co-author of ‘Managing Media Companies’ (Wiley & Sons), and his academic articles have been published in such journals as the European Economic Review, Management Science, Journal of Economic Behavior and Organization and Journal of Big Data.
Gloria Macias-Lizaso is a partner at McKinsey & Company, where she focuses on telecom, banking and retail. She leads the McKinsey Center of Excellence for Machine Learning in Europe, supporting clients across industries and geographies on how to improve their performance through advanced analytics.