In the last installment of this series, I described the three key steps that everyday business intelligence (BI) users typically go through when they consume data: Observation, Perspective, and Insight. These steps often take place in an ad-hoc manner without the same degree of precision and requirements that one expects in corporate BI environments. Nevertheless, everyday BI users follow a similar process to achieve the same end goal—insight through data for better-informeddecisions.
Your decisions are always about the future – what direction to take, where to invest, what course corrections to make, what markets to expand into, what and how much to produce, who to hire and where to put them. In other words, a forecast, the third of my four points, with the fourth being perhaps the most important of the lot - a confidence level or uncertainty measurement about that forecast, these last two coming from the realm of predictive analytics.
Everyday BI users rely on technology solutions that can deliver insight-driven and action-ready information. This is important for businesses because better-informed consumers tend to make better-informed decisions. And they tend to be more loyal because they recognize the improvements that these solutions can make in their daily lives.
How have you seen these three steps to insight unfold in your everyday BI experiences?
…What is your concern is the shortage of STEM and skilled workers - the lingering high unemployment rate being a rather asymmetrical affair, primarily affecting the lower skilled job classifications.
In mobile business intelligence (BI) design, performance is one of the most critical elements of the mobile BI success formula. High quality content, reliable data, andmobile purpose are a must. However, none of that matters if the performance is poor—mobile users tend to be less patient about performance. Think about it for a moment. Unlike a PC users who may be chained to a desk, mobile BI users typically access mobile BI assets on the go and with less time to spare.
Sports and entertainment organizations collect tremendous amounts of data on the fan experience, such as attendance, ticketing, merchandise, etc. These data troves can provide invaluable opportunities for growth and profitability. That is why I called sports and analytics a “perfect couple” in my Sports & Analytics series.
However, having all the data doesn’t do much good if we are not asking the right business questions — or don’t have the right analytics platforms to answer them.
Surveys, questionnaires, and polls generate data, but survey data and hard data aren’t the same thing. I often see them treated in the same light in the context of answering business questions or delivering actionable insight, and with equal zeal and qualification. But there are definite differences.
Mobile has become a key ingredient in the integration of business and technology. If designed and delivered effectively, it provides unparalleled convenience, speed, and ease of use. However, having the right mobile mindset is a prerequisite if you’re going to drive growth and profitability through the use of mobile solutions.
In its simplest and purest form, I define it this way:
What’s the biggest barrier to business innovation in today’s world?
It’s not lack of opportunity
Big changes in the world mean big opportunities for the companies that can take advantage of them.