The question goes to the center of a growing discussion about business intelligence and the utilization of analytics to shape your company’s strategy for competitive advantage. The best way to improve your company’s performance is to measure it. From Insight to Action. If you’re like most companies, you don’t know very well what regarding everything data you already have stored in your ERP system-and you probably only use a small part of your system’s capability to manage the info.
Coleman advises looking at with your software vendors to see what they have-or are developing-in just how of analytics and intelligence-gathering programs. You might check out third-party solutions that can map your data and offer you with the business intelligence you need. Of course, experience is still an important factor in the business and functioning on intuition often takes care of for individuals who have been with us long enough to sense what their market needs.
But those experienced business people have been gathering, interpreting, and examining huge amounts of data for a long time, whether they realize it or not. Putting some formality to the practice with a good business intelligence program can provide even more insight while offering a good foundation to make better still, longer-term, strategic business decisions. As Coleman explains, business intelligence may help you move from insight to action. He is an experienced MBA professional with a broad history of entrepreneurship and business development qualifications. He’s served as a tactical value and expert added partner to …Continue reading