| Business intelligence is all about taking your data and | | | | you've got this information you would have scorecards |
| generating business benefits from it. So what this | | | | put together with red, amber and green making it |
| means is, taking data and turning it into information, | | | | easier to see your performance to target. |
| creating knowledge then getting it out to people at the | | | | Due to the fact that business intelligence is such a |
| right time in the right place in the right format so they | | | | broad term, it's often used in difference ways. Part of |
| can make better decisions to drive business benefit. | | | | business intelligence is performance management. |
| In the last few years there's been lots of acquisitions | | | | Once you've got your information in a clear and |
| and mergers in the business intelligence tools market, | | | | concise format, you'll need to monitor how this |
| so the large software vendors have acquired the pure | | | | information is then being used and it's ultimate impact |
| play business intelligence providers. This is very | | | | on your business. Performance management is the |
| interesting because only a few years ago the industry | | | | process of tracking these changes so by |
| was unable to deliver what businesses were asking | | | | encompassing performance management into your |
| for, but with the business acquisitions of the tools, and | | | | business management strategy you can actually |
| bigger companies getting involved, there's much more | | | | change peoples behavior and change business. |
| capability in the technology space. This has resulted in | | | | Now you've decided your business needs a business |
| the situation being almost reversed; the technology can | | | | intelligence solution, one of the first things you're going |
| deliver more that most users need when they start | | | | to have to do is procure a tool to actually allow you to |
| out with a business intelligence project. | | | | implement that solution. A common mistake a lot of |
| So, if business intelligence is all about obtaining data to | | | | companies make is going to different vendors and |
| turn into productive information to produce business | | | | getting several presentations, by doing this it's too easy |
| benefit, how exactly is that information presented? | | | | to get wrapped up in the technicalities of the different |
| There are various ways in which that information can | | | | technology on the market rather than the overall |
| be formatted in order to conclude the best decision, | | | | objectives of the products. Although this does help to |
| and impart that information so more knowledge and | | | | give a good overall objective of all the different |
| benefit can be gained by the business. For example, it | | | | technologies, and, as a result, a good overall objective |
| could be a tabular report or it could be a report with | | | | of the process itself, it can be distracting. The most |
| graphics in it, it could be printed or it could be sent by | | | | productive course, is focusing on exactly what your |
| email, it could be presented through office products | | | | business needs to achieve from this process and |
| such as Outlook, Excel or Word. It could also be | | | | letting your vendor help educate you in how you're |
| presented through dashboards, which have an instant | | | | going to benefit from the technology within your |
| view of the business giving a snap shot in time. Once | | | | business. |