Why is BI So Hot?
Business Intelligence (BI) is experiencing a resurgence, in the media at least, along with associated applications like Sales and Operations Planning (SOP). I met with the owner of a small BI consulting services company for dinner last week and found a kindred spirit related to what the real power of BI is. Large companies have the issue of many non-integrated systems and databases. Small companies deal with accurate data. Both deal with a BI infrastructure that allows centralizing and then innovatively using the information to assess, monitor and predict how the business is doing and will do. One reason why it is so hot is because strategy and business planning cycles are becoming shorter and shorter as change and innovation increase.
His company has a strategy dealing first with the cleansing and enhancing of data. Without good data no amount of integration will help. My experience with a strategic sourcing solution that solved the problem of duplication of part numbers (different part numbers for same part), resulting in drastic purchasing spend reductions, proved that bad data results in bad decisions. In that case companies would buy the same part as if it were many different parts from many different vendors. The vendor databases in most of these companies also suffered from severe duplication which led to poor spend analysis.
What need to harness business information is driving you? Do you consider the way to satisfy this need a BI application?
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Tags: application, BI, data, data-base, information, integration, IT, planning, projects, sales-and-operations-planning, software, SOPRelated Stories
POSTED IN: Business Intelligence, Solutions and Trends Requiring Projects
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