Hey Business Intelligence! Show me the money

Business Intelligence Utopia !

Imagine if you could ….

  • Identify who are your best customers
  • Tell/predict the amount of money they are willing to spend over the next three months
  • Predict energy consumption over the next two weeks based on average demand
  • Use data from different weather patterns so as to best negotiate energy generation and delivery contracts
  • Automatically assess global commodity prices
  • Continuously review product profitability and eliminate the worst performing items from the catalog
  • Compare supplier performance based on credit-worthiness [product availability, compliance with contract terms, and product pricing to reduce the number of approved vendors]
  • The list could go on and on

But wasn’t this the promised land of Business Intelligence?

In the following article, Have we lost the true meaning and purpose of Business Intelligence? the author asks some deep questions and asks us to be honest about the true purpose of business intelligence.

The bottom line is

  • Turning Information into Knowledge
  • Turning Knowledge into Actionable Plans
  • Turning Actionable Plans into making or saving more Money

Continue reading Show me the money! Business Intelligence