Brightleaf helps companies get the commercial terms, legal provisions, and explicit obligations out of legacy contracts. We take that unstructured data and deliver it to clients in a structured database for queries and analysis.
But what’s the best use of that insight? According to MIT’s Michael Schrage, it’s not to make better decisions, but to change behaviors.
Writing for the Harvard Business Review, Schrage states “Companies with mediocre to moderate outcomes use big data and analytics for decision support; successful ROA—Return on Analytics—firms use them to effect and support behavior change.”
He goes on to say “Better data-driven analyses aren’t simply “plugged-in” to existing processes and reviews, they’re used to invent and encourage different kinds of conversations and interactions.”
That’s a fascinating notion…and one that we want to explore with our customers. We provide them with that knowledge, but how is it used? We’ll dig into that and report our findings here. Meanwhile, if you want to read Schrage’s “Why Your Analytics are Failing You” post, visit: http://blogs.hbr.org/2014/04/why-your-analytics-are-failing-you/