According to CK Prahalad and MS Krishinan, competitiveness favors those who spot new trends and act on them expeditiously. Therefore, managers must develop insights about new opportunities.To do so, it’s required a comprehension of consumer expectations and behaviors and technological changes, as well as the nature of the supply chain and opportunities for its improvement. How does one spot trends early? Can a firm develop tools that aid in building insights? While traditional analytical approaches are often asynchronous with business changes, real-time analytics seize the opportunities and mitigate the risks in seeking to have global resources serving single customers. Continue to read Real-Time Analytics as a New Source of Competitive Advantage
Tags: Analytical Model, Analytics, Business Insights, CK Prahalad, M.S. Krishnan, n=1 & r=g world, new age of innovation, Real-time analytics, strategic innovation, the new age of innovation
