Business Intelligence: Using Data You Already Have
Posted on Wed, Aug 25, 2010 @ 02:57 PM
Everybody is talking about business intelligence these days -- techniques to identify and analyze business data to drive improvements and increase profit. After all, the old adage “good data equals good decisions” holds true if you aim to make better business decisions.
But the notion of “business intelligence” is often wrapped up in costly and overly complicated data warehousing technology that can ultimately sidetrack your efforts. A recent report from Gartner found that more than 35 percent of the top 5,000 global companies regularly fail to make insightful decisions about significant changes in their business and markets. Is this because of a lack of data? Or is it more likely that the systems used to mine that data are so complex that meaningful business decisions are caught in the technical miasma of the system itself?
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Our answer is centered on simple, straightforward ways to use the information that you are already gathering. For example, every bank can identify how many incoming checks it must process; this data is already available. And since the cost to process a paper check is more expensive than an electronic transaction the bank may want to focus on programs to move these customers to a debit card. |
Real business intelligence is less dependent upon technology than the thoughtfulness that is applied to the strategy. Indeed, straightforward analysis of the data you already have can uncover significant process improvements and improved business practices. In the end, “transpromo” strategies, managed print strategies and other process improvements all depend on the ability to apply intelligence to the data you have collected.
Contact us today to find out how our products, like Statement2Web and Managed Print4U, can easily provide you with data to drive intelligent business decisions that will make a real world, bottom line difference in your operation.