While strategy development will always require creative and thoughtful executives to set aspirations and make bold choices, analytics tools can give hypergrowth organisations an edge.

Advanced analytics can be used to accomplish the following:

Reduce bias in decisions by calibrating the likelihood of your strategy succeeding before you allocate resources. Many forecasts tend to be overly optimistic, so incorporating an outside view is invaluable in informing decisions.

• Unearth new growth opportunities by leveraging external data sources, fintechs can identify potential new applications for their product.
• Identify early-stage trends by painting a real-time picture of how your business context is unfolding so that you can trigger big moves before your competitors do. Tools such as sentiment analysis can help gain timely perspectives on customer sentiment or reputational risk, this is especially important for organisations testing bolder strategies.
• Anticipate complex market dynamics by generating proprietary insights about the combined impact of myriad forces. Mathematical modelling and simulation can be used to support scenario planning including trade-offs, forecast market demand under different scenarios, and help managers understand and predict competitive responses or customer behaviours.

According to Kate Bohn, Innovation & Strategy at Lloyds Banking Group

“Every algorithm and model will need to be reviewed and potentially refreshed, as our 11-year bull market has come to an abrupt halt. The tension between capital liquidity, an increasing profitability squeeze and the imperative to accelerate innovation will require an uptick in partnerships and collaboration.”

For those companies looking to scale up their operations, both from a size and geography point of view, insights such as changes in operating models and growth scenarios are invaluable.

Expansion is an expensive business, so using the company’s data and connecting it to make more informed, accurate decisions will help ensure that they don’t burn through valuable capital.

“Expansion is a big part of that goal and we believe Anaplan’s flexible platform will help us standardise nimble performance management processes that not only support our teams, but help us meet new opportunities as we continue to grow.” Bedford Consulting client, Bitpanda.

For further information, including how to manage hypergrowth businesses efficiently, download our full whitepaper.