The buzz around using predictive tools to analyze big data in discrete areas of a business is loud and deserved. In health care, these tools are changing the way doctors identify people at risk of developing certain diseases; in fashion, they crunch purchasing data to anticipate trends; sales and marketing experts use them to tailor ad campaigns. The restaurant chain, Olive Garden, uses predictive analytics to guide its food buying and retail staffing plans.
But maybe the thrill of accomplishment in these pockets is diverting senior managers’ attention from another, even more critical opportunity: Digital technologies are also rapidly changing how managers can acquire and assess the information they use to develop and execute on enterprise-wide strategy. Strategy-making can now happen in real time. Strategy can anticipate and learn.