Business intelligence seems to be an elusive ingredient for many organizations. What it is, how it is accomplished, whether or not it trends are key ingredients to the pie of success for business owners and managers. Business intelligence drives business much like a missile guidance system delivers a payload. Using competitive differentiators and technologies, companies capture, organize, access, analyze and deliver actionable data arriving at improved strategic, tactical and operational decision-making. If someone asks you what is a tactical strategy for organizational development, you know their business intelligence is waning. For the past twelve to fourteen months, tactical strategy has been a catch-phrase trending in the business intelligence arena. Is your organization tactically engineering their strategies? Have you defined your business intelligence?
The Redefinition of Business Intelligence:
Legacy business intelligence has transitioned mapping to current needs and smart technologies. Terminology has morphed from legacy nomenclature to modern reports capabilities implementing dashboard reporting. The implementation of seamless workflows provide actionable decision-making in real-time through management technologies where operational system design permits format variety in new enterprise models. Data virtualization and active in-memory computing provide operational excellence required in a technologically advancing universe businesses now operate under.
The Three V's!
Today, business intelligence involves "BIG DATA." Mass volume, velocity and variation are all high yields, based on non-traditional information from data streams in social media to log-files, click-streams and unstructured text. We aren't in Kansas anymore . . .
Business Intelligence Oversight:
Historically, information technologists drove business intelligence; however, organizational ownership of business intelligence has evolved to an executive level role and it is now in the business office's line of operations management. The information technology teams are moving toward governance and enterprise infrastructure, which seems a polar opposite from the past for both these business teams.
To avoid information technology team drain on what are past-time reports and analytic analysis driven largely by management requests, executive teams are now focusing on enterprise intelligence through self-service functionality. The noSQL (not only SQL), relational, graph and other database(s) as tools provide a cross-functional synaptic of business intelligence, which breaches data silos and disengages from the disparate data acquisition legacy business intelligence practices delivered; however, the result is potential for security issues - so the modernist executive needs to analyze and lock-down to avoid vulnerabilities to their organization's enterprise. To avoid penetrations, the ability to monitor
devices and wipe all data if it’s lost or stolen must be intricately woven into the fabric of the business intelligence platform.
How Does Business Intelligence Boost Business?
A well-tooled business intelligence department realizes their oversight results in:
- Assures inventory management proficiency
- Establishes production and manufacturing costs at point-of
- Facts rather than guesstimates
- Moves the customer service scorecard from a legacy result to an immediate analysis
- Operational fluidity
- Real-time insight resulting in higher productivity
- Results in cross-selling and up-selling
What is Required for Your Business Intelligence Strategy?
To tool your NexGen Business Intelligence Strategy move from KPI thinking to predictive analytics; engage in relevant case and library management with high-end workflows; deploy SaaS tools; use mobility strategically; and think about pervasive business intelligence allowing the full composite and strength of an organization to have access and accountability in real-time.
What about Washingtonians and Business Intelligence?
Hailing from the Nation's Capital is always a daunting realization. The Government and those involved with the Government feature unique dynamics, which can exacerbate business intelligence and information technology requirements. The budget cuts, job freezing, the new transparency, and other attributes that come with the territory at a national government level seem myoptic and implausible to mitigate.
To gain service and agency buy-in, whether in procurement of, or day-to-day operation of federally driven nomenclature predictive analysis with a savings stratagem should gain the respect and buy-in of senior executives. Especially, in responding to federal procurement opportunities, contractors should impress their end client with tactically engineered business intelligence strategies employing NexGen tools.
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Quote: Intellectuals solve problems, geniuses prevent them. Albert Einstein