What’s Missing From Business Intelligence?

11:28 am Analytics, BI Program, BI Strategy

So often we hear about how analytics is being used in business to:

  • Improve marketing campaign ROI
  • Predict and prevent fraud
  • Improve merchandising profitability
  • Get products to market faster

It is easy to think that this is through the sheer power or business intelligence tools, such as analytics. What we don’t hear about is what is underneath these tools – and I am not talking about IT infrastructure. The real power behind BI analytics is the culture of fact-based decision making. This is the area that is not being given enough focus, in spite of many studies telling us that more than half of those who have BI tools available to them, don’t really understand how to use them.

Real returns from BI takes a change in people and process, not just technology. There is a commitment to building a fact-based decision making culture. Whether it is to identify your most profitable customers, accelerate product innovation, optimize your supply chain or product portfolio, unless you are able to identify and measure your true drivers of financial performance, you will not enjoy the full value of BI.

Two books I recommend [by Gail La Grouw] for closing this gap around business intelligence are:

Sell More And Have Your Customers Love You For It – detailing how to use analytics to power up the sales pipeline and resolve some all too common sales management issues, and

Leading With SPI : Driving Productivity and Profit With Strategic Performance Improvement

Leave a Comment

Your comment

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.