Strategy Analytics for Business Resilience Theories and Practices

A strategy is a blueprint of actions taken by managers to achieve the organization’s mission and vision and other long-term goals. In long term, strategy determines the success of an organization. While evaluating strategy, a company is essentially asking itself, “Where we are heading to and how we will achieve our goals?” Strategy Analytics is a relatively new field in conjunction with Strategic Management and Business Intelligence. Generally, Strategic Management field deals with the enhancement of the decision-making capabilities of managers. Typically, such decision-making processes are heavily dependent upon various internal and external reports. Managers need to develop their strategies using clear strategy processes supported by the increasing availability of data. This situation calls for a different approach to strategy, such as integration with analytics, as the science of extracting value from data and structuring complex problems. The term Strategic Analytics implies decisions are made, resources are invested, and plans for data and analytics are created based on the needs and critical questions a business is facing. The need for analytical solutions in today’s business environment is crucial because they allow users to think strategically about how an organization builds its core competencies and creates value. This not only informs the entire process, saves a lot of time, effort, and money, but also leads to value creation.