“There are many methods for predicting the future. For example, you can read horoscopes, tea leaves, tarot cards, or crystal balls. Collectively, these methods are known as “nutty methods.” Or you can put well-researched facts into sophisticated computer models, more commonly referred to as “a complete waste of time.”
Scott Adams, The Dilbert Future
Are you clear on your objective? What is the most important value proposition that you want to achieve through BI and analytics enabled strategies?
- Reduction in operating expenses
- Increased profitability
- Improve growth, competitiveness and market position
- Customer acquisition, loyalty and retention
- Product development and differentiation
The mis-alignment between what C-suite wants and what IT is capable of delivering is quite extraordinary. Many CFOs, CEOs believe that IT is unable to deliver results where it counts: the top line and bottom line. At the same time, IT organizations spend an incredible amount of time, money and resources simply reporting the obvious data within their business processes and workflows. The data overload is making find the obvious in the increasing tidal wave of structured and unstructured data a full-time job. As organizations emerge from the deep recession of 2008, the competitive pressures are putting even greater demands on the decision-making, KPIs and performance management processes of organizations.
To stay competitive means making better decisions more quickly. It means accelerating the “raw data -> clean data -> information -> insight -> decision cycle.” It dictates widening the scope and scale of the data management domain, the analytic landscape and the technological infrastructure.