I have just read a new report from McKinsey, The Age of Analytics: Competing in a Data-Driven World (Dec 2016). It weighs in at a mammoth 120 pages, but there are some very interesting nuggets in here. First, McKinsey went back to a previous study they did on data and analytics in 2011 and compared the economic value that they estimated could be realized by the use of data and analytics with the actual results. To get to the point, the results to date are not exactly awe-inspiring. Let's not forget that data and analytics have been a top priority for many organizations for 5 years now according to many industry analysts.

First, McKinsey went back to a previous study they did on data and analytics in 2011 and compared the economic value that they estimated could be realized by the use of data and analytics with the actual results. To get to the point, the results to date are not exactly awe-inspiring. Let's not forget that data and analytics have been a top priority for many organizations for 5 years now according to many industry analysts. So, why did organizations fail to realize the potential in these areas? Organizations will need to build a distinct competence in data management to solve the data challenges while at the same time solving the problem of rapid technology change in analytics and applications.