What does Business Intelligence (BI) and Business Analytics offer?
Action without analysis is just guessing…
Globalization, massive interconnections and increased risk, combined with an explosion of information, has culminated into a challenging and continuous cycle of inefficiency and operational complexity.
- In fact, nearly 15 petabytes of data are created every day – eight times more than the information in all the libraries in the U.S. It can be a daunting task for any business to sift through massive amounts of data, extract information and transform it into actionable knowledge and insight.
- Unfortunately, many leaders are making crucial business decisions based almost entirely on intuition and personal experience rather than intelligent and actionable information.
Business Analytics / Business Intelligence is your most powerful ally in the new economic environment.
- Helps you predict and respond to opportunities and threats.
- Optimize operations to capitalize on new sources of revenue.
- Proactively manage risk while ensuring efficiency.
- To detect patterns that show something is amiss. Corrupt practices, money laundering, embezzling, internet theft and more
Business analytics has made a quick ascent to the top of many executives’ must-have lists.
- Executives every day are wrestling with business decisions where a better understanding of data at a very deep level can make all the difference.
- Work your way through the list of ground-shaking developments in business today – none are areas where companies can continue to shoot from the hip. Pricing. Workforce trends. Health reform. Even security and terrorism threats.
- These are all complex challenges where advanced signal detection capabilities are critical. And the new generation of business analytics tools can bring those capabilities within easier reach than ever.
- When business analytics technologies are hardwired into your business processes, the result can be a sharper view of the patterns and signals buried deep below the surface of your data. That’s a serious competitive advantage !!.
Sources: (Jane Griffin, Principal, Deloitte Consulting LLP, IBM Consulting)