| BUSINESS INTELLIGENCE - A MODERN-DAY | | | | help to capture key performance data from all |
| VALUE PROPOSITION FOR COMPANIES OF ALL | | | | branches such as sales, costs, performance ratios and |
| SHAPES AND SIZES | | | | display the information centrally for further analysis. |
| Business intelligence (BI) refers to computer-based | | | | You will not only be able to see how each branch, or a |
| techniques used in spotting, digging-out, and analyzing | | | | group of branches, is progressing, you can also |
| business data. BI technologies provide historical, current, | | | | compare peer branches to see which branch is falling |
| and predictive views of business operations with the | | | | behind in which business aspect. This will make your |
| aim of supporting better decision making. (Definition | | | | business improvement efforts very focused and |
| paraphrased from Wikipedia). | | | | effective. |
| If you are working in the Banking, Telecommunications | | | | Example 2: Your company is strongly dependent on |
| or Retail sector, you surely know about the importance | | | | your brand positioning in the market. To ensure a |
| of Business Intelligence. Your company has a large | | | | strong brand position, you run many branding |
| volume of business transactions and therefore | | | | campaigns and, in support of this, must ensure all |
| succeeding in business becomes a numbers game. | | | | customer touch points - i.e., wherever a customer |
| Probably your company has implemented a data | | | | comes in contact with the organization - are behaving |
| warehouse to capture data about relevant business | | | | in a professional manner that consistently re-enforces |
| metrics and there are a broad range of processes | | | | the brand image. Thus, you define an appropriate |
| and tools in place to make use of the captured | | | | score-card of measurement criteria for each type of |
| information to facilitate decision making, pricing policies, | | | | touch point that can be collected, stored, collated and |
| business governance, etc. Your company knows that | | | | analyzed in near real-time using BI tools, thereby |
| a clear understanding of underlying business figures will | | | | allowing easy identification of where customers have |
| enable you to extract valuable insight to understand | | | | problems interacting with your brand. Like this, you get |
| where you are leaving money on the table and how | | | | valuable information on how to maximize the return on |
| you can boost your revenues further. And, indeed, | | | | your advertising budget. |
| most people that we work with, who have a | | | | Example 3: Your company services customers at |
| background in the above mentioned industries, | | | | many sites throughout the country. You have a Quality |
| understand the value of data analysis and the requisite | | | | Assurance team to monitor delivery quality. Business |
| tools (Business Intelligence systems) very well. | | | | Intelligence systems can help consolidate customer |
| However, during the last couple of years, we have | | | | feedback information for all customers whilst |
| seen significant improvements in BI software | | | | simultaneously cross-indexing the relative importance |
| performance, including the availability of previously | | | | of each customer to your business. This information |
| high-end analytics at entry-level pricing points. Today, a | | | | will help your Quality Assurance team to focus their |
| company can implement Business Intelligence systems | | | | time at customers where it really matters, i.e. |
| from leading brands for less than 150,000 Euro and, | | | | customers that are highly important to your business |
| depending on the specific requirements, perhaps for | | | | but also have a need to improve service quality. |
| much less. Therefore, I believe the BI market has | | | | These are only three examples how Business |
| come of age to a point where even medium sized | | | | Intelligence systems can help modern, progressive |
| companies across more or less any industry segment | | | | companies on a cross-industry basis. From our |
| can contemplate such solutions. I believe that in many | | | | experience, there are wide ranging opportunities for |
| cases there is a strong business case to implement a | | | | companies to leverage the way they handle |
| central Business Intelligence solution. There are many | | | | information. Applying the principle "what you measure |
| aspects of business that, if monitored closely, can be | | | | you can manage" these systems can help you focus |
| improved significantly over time. | | | | your resources on where it really matters and ensure |
| Here are some examples how modern, progressive | | | | you don't miss opportunities to improve your bottom |
| companies may be able to realize substantial business | | | | line. Since the investment for such systems has fallen |
| value from Business Intelligence systems: | | | | continuously over recent times, many more companies |
| Example 1: Your company has many sales branches | | | | should now consider embracing the benefits that the |
| across the country. Business Intelligence systems can | | | | technology in this area has to offer. |