Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi...
In the last 20 years, companies have realized that technological advances can enable them to collect information about customer behavior to better understand them, create more targeted offers, and determine more direct business strategies. This quest for information of all kinds on the clients' side has allowed companies to stunt huge amounts of data with more than half that seem to be often useless as James Longworth confirms by saying: "By piling up more and more data, it becomes increasingly difficult to determine what is useful and what isn’t. It also racks up the IT costs for storage and back-up. In fact, research has shown that of all the data many businesses are storing, on average 52% of it is considered “dark”, meaning there’s no real use for it and in effect, it’s a waste of resources."(J. Longworth, 2017)
The data we are talking about here are emails, phone calls, information collected during campaigns, and other information related to customer behavior. With the new direction of companies on the quest for data, this explosion of data does not seem to slow down and in addition, companies have a problem with the management of these data because they have a lack of understanding as to how the data should be managed and used.
According to James Longworth (2017), "Many firms simply keep data “just in case” because they don’t know if it will be relevant in the future. This mind-set is doomed from the start as a lot of data has a set lifespan. What’s more, this mentality is often fuelled by the fear of deleting something of potential importance that can’t be retrieved at a later date."
To have a competitive advantage, it is really necessary to collect information on the behavior of the customers, better understanding the management of the data, then the companies can obtain important operational advantages, such as better productivity and increase turnover and considerable profits. Use manage those is not too easy because of the securitization and the maintenance of data. In fact, maintaining data is costly, and its a big problem for companies collecting big data, but intelligent assessments can help to identify the useful stuff and enable them to take charge of the current data explosion.
Thomas Davenport and Jeanne Harris in their book "Competing on Analytics" demonstrate that competitive advantage can be the result of sophisticated exploitation of business intelligence and predictive analytics. They mention companies such as Netflix Inc., Amazon.com Inc., Harrahs Entertainment Inc., and Capital One Financial Corp already efficiently using data intelligence with business intelligence to better position themselves in the marketplace. This is the case, for example, of the online video rental company Netflix, which uses algorithm-based business intelligence and predictive analytics to manage its movie recommendation engine. This allowed him to be a step ahead of his competitor Blockbuster Inc.
An example of an organization that has realized competitive advantage through analytics is ALIBABA that turn to digital technology and business intelligence to introduce more automation, merchandise visibility, and business intelligence to the supply chain in order to short delivery times.
As per Eileen Yu (2018), at the end of the year 2018, Alibaba took the pole position among China’s top 10 e-commerce players expected to account for more than 85% of the country’s total online retail sales.
References
- J. Longworth.(2017).The Data Explosion Effect.
Retrieved from https://www.comparethecloud.net/articles/the-data-explosion-effect/
- T. H. Davenport and J. G. Harris.(2007).Competing on Analytics
Retrieved from https://www.computerworld.com/article/2553007/competing-on-analytics.html
- Eileen Yu (2018).Weekly Focus: Alibaba to Overshadow Chinese Competition with 58.2% Market Share
Retrieved from:https://www.dtcdaily.com/2018/07/weekly-focus-alibaba-to-overshadow-chinese-competition-with-58-2-market-share/
The data we are talking about here are emails, phone calls, information collected during campaigns, and other information related to customer behavior. With the new direction of companies on the quest for data, this explosion of data does not seem to slow down and in addition, companies have a problem with the management of these data because they have a lack of understanding as to how the data should be managed and used.
According to James Longworth (2017), "Many firms simply keep data “just in case” because they don’t know if it will be relevant in the future. This mind-set is doomed from the start as a lot of data has a set lifespan. What’s more, this mentality is often fuelled by the fear of deleting something of potential importance that can’t be retrieved at a later date."
To have a competitive advantage, it is really necessary to collect information on the behavior of the customers, better understanding the management of the data, then the companies can obtain important operational advantages, such as better productivity and increase turnover and considerable profits. Use manage those is not too easy because of the securitization and the maintenance of data. In fact, maintaining data is costly, and its a big problem for companies collecting big data, but intelligent assessments can help to identify the useful stuff and enable them to take charge of the current data explosion.
Thomas Davenport and Jeanne Harris in their book "Competing on Analytics" demonstrate that competitive advantage can be the result of sophisticated exploitation of business intelligence and predictive analytics. They mention companies such as Netflix Inc., Amazon.com Inc., Harrahs Entertainment Inc., and Capital One Financial Corp already efficiently using data intelligence with business intelligence to better position themselves in the marketplace. This is the case, for example, of the online video rental company Netflix, which uses algorithm-based business intelligence and predictive analytics to manage its movie recommendation engine. This allowed him to be a step ahead of his competitor Blockbuster Inc.
An example of an organization that has realized competitive advantage through analytics is ALIBABA that turn to digital technology and business intelligence to introduce more automation, merchandise visibility, and business intelligence to the supply chain in order to short delivery times.
As per Eileen Yu (2018), at the end of the year 2018, Alibaba took the pole position among China’s top 10 e-commerce players expected to account for more than 85% of the country’s total online retail sales.
References
- J. Longworth.(2017).The Data Explosion Effect.
Retrieved from https://www.comparethecloud.net/articles/the-data-explosion-effect/
- T. H. Davenport and J. G. Harris.(2007).Competing on Analytics
Retrieved from https://www.computerworld.com/article/2553007/competing-on-analytics.html
- Eileen Yu (2018).Weekly Focus: Alibaba to Overshadow Chinese Competition with 58.2% Market Share
Retrieved from:https://www.dtcdaily.com/2018/07/weekly-focus-alibaba-to-overshadow-chinese-competition-with-58-2-market-share/
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