You have business intelligence right? You and your colleagues are a pretty smart and experienced bunch – isn’t that business intelligence? The answer is “maybe” if you are using your intelligence to really know your business and have access to current details from which you can base your decisions.
“BI” is a buzzword that is often thought to involve the purchase of some highly complex software program - but the truth is business intelligence can be something as simple as a spreadsheet. Companies are often completely out of touch with the information or data that is flowing through the company. Sometimes the most important information is not even collected or the most base and fundamental pieces of information are not “put together” to provide a cohesive picture. Common sense really - you don’t have to be a technology wizard to understand the principles behind business intelligence – however, it is quite amazing how many companies are run on “gut” and luck.
BI is a way to gain insight into business that can provide valuable and timely information that can help make business decisions and positively effect and influence the enterprise. Over the next few weeks we will break down practical ways to ensure your business is “intelligent.” Please feel free to ask questions or comment on anything you read here. See you tomorrow.
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