Most companies have come to accept the fact that there are
significant benefits to being data-driven.
The problem is
knowing that and
acting on that are two different propositions.
This paragraph from
a recent post on 7wData speaks directly to the danger in waiting too long to embrace Big Data, analytics and benchmarking:
As the McKinsey Global Institute (MGI) declares, big data is shaping up to be a “winner-take-most” proposition, where leading companies will press their advantages and laggards are at the mercy of wholesale technological shifts that promise to upend entire industries.
Not convinced? Leading companies are not only leveraging big data and analytics to improve internal processes but they’re also creating alternative business models and new revenue streams. In other words, big data tends to bolster competitive advantages in innovation, personalization and operational efficiency."
To put it more bluntly, those who are first will last, those who are last will fail.