Common Sense & BI: Similar, Not Common
Large companies speak of Business Intelligence or BI as if it was some alien high technology field. True Business Intelligence can translate in complex processes and acquisitions of technologies. Yet when you boil it down to the soup, what BI means is taking your data and using it to grow your business.
Close Encounter to BI
You use business intelligence every day. Although true business intelligence may be a discipline in itself, its merits comes from the principal of recording data, analysing it, comparing it to pre-established business goals and provide reports that help your business.
CRMs can sometimes act as a small company’s BI software. Different sizes of businesses today are using a multitude of widely available software. Customer Relationship Management software today can be used as a simple Business Intelligence software, where it collects information such as contacts, activities, and other information and through reporting it can show valueable information. When things grow they ‘might’ get more complicated than that.
Know Thy Business
Know Thyself is an ancient Greek proverb that meant to inspire people to get to know more of themselves. The idea is that the more you understand yourself, the more you can understand others and thus be happier. Although all business, like people, are different they are still operate under this principal.
Your information turned to knowledge becomes a value to you and customers. Through the information you collect you can eventually translate it to knowledge. That knowledge becomes the value for your customer that can build your competitive advantage.
Data to information to knowledge to value to sales. Once you increase the value of your offering through knowledge learnt you can offer higher offerings and tackling more markets which leads to making more sales.
If you are a businessman see how you can collect all your data and use that data for your benefit. Today with cloud technologies, business intelligence solutions are more widely available. And if, like a wide deal of companies, feel that the available software is not enough for you, Information Systems companies today offer flexible, solutions for the wallet of even small businesses.