Before beginning important efforts, conduct business analytics

It's hard to think up a case for not using business intelligence today. These processes have become an ingrained part of organizations in nearly every field because they provide something that firms of all descriptions really need – insight about what may be coming next. This is universally appreciated as a competitive advantage, something that can be the determining factor in a direct competition between two firms. Businesses try hard to get even a small sliver of advantage over their closest rivals, and if the right figures become available at a critical moment, BI may represent far more than that. It's no wonder analytics is a common priority today.

Every decision can be improved
A recent post by Smart Data Collective contributor Amit Kumar addressed the exact role of BI as the enterprise world turns from a technologically transitional 2014 to a potentially growth-laden 2015. Kumar noted that the industrialized world has made a distinct shift toward increased BI use, with analytics being a "robust" presence in the U.S., Canada, the U.K. and more. He explained that the main purpose of these processes is to improve the decisions that power companies. With content gleaned from their internal and external sources, firms can put aside some of the old-fashioned methods of strategizing, such as putting everything in the hands of one executive.

Firms can turn their content into a type of edge over their rivals, Kumar explained. There is ample case these days for treating information as a resource, something equivalent to materials stored away or cash in a bank account. This is because with BI around, there are processes to refine content into value directly. A good decision at a critical moment can mean a huge swing in a company's fortunes, and it's hard to argue that effect does not have a quantifiable value. Kumar called analytics "a venture, as opposed to a cost."

Beginning right away
Dealing with BI now is preferable to deciding to handle it at some point in the indeterminate future. There's no more need to wait, either, as companies are reliably delivering products that promise a great analysis experience for firms of all types. Take Necto 14, for example. This solution is packed with features such as the ability to take in and use large content sets that would have been impossible for legacy tech to make sense of. It is also customizable, meaning it is easily possible to extend self-service programs well out of IT and into the line of business departments.

Submit to our blog