How to win in the age of analytics

What's ahead as the field matures? Since the concept took hold, big data has made big waves. The field of analytics has developed rapidly since the McKinsey Global Institute (MGI) released its landmark 2011 report, Big data: The next frontier for innovation, competition, and productivity. But much value remains on the table as organizations wrestle with issues of strategy and implementation. In this episode of the McKinsey Podcast, MGI partner Michael Chui and McKinsey senior partner Nicolaus Henke speak with McKinsey Publishing's Simon London about the changing landscape for data and analytics, opportunities in industries from retail to healthcare, and implications for workers. Simon London: Welcome to this edition of the McKinsey Podcast. Today we're going to be talking about data analytics and how organizations can use the unprecedented volume of data at their disposal to transform industries, create new business models, and, frankly, make better decisions across everything they do. Joining me here in London to discuss the issues is Nicolaus Henke, the global leader of McKinsey Analytics and chairman of QuantumBlack, an acquisition McKinsey made in 2015. And joining us from San Francisco is Michael Chui, a partner with the McKinsey Global Institute. Nico and Michael are among the coauthors of The age of analytics: Competing in a data-driven world, which is a new McKinsey Global Institute research report. Nicolaus Henke: Thank you very much. Simon London: Before we get into detail on the latest research, I think it might be helpful to take a step back and clarify what we mean in terms of the age of analytics. Cynics would say, "Come on.