Business intelligence (BI) refers to skills, knowledge, technologies, applications and practices used to help a business to acquire a better understanding of the market behavior and business context. The purpose of business intelligence is to support better business decision making.
2. Let us look into
• Competing on Analytics
• What is Business Intelligence
• What are Analytics
• Business Intelligence & Analytics
• Benefits of BI
• Competing on analytics stages model
3. New Basis of Competition
• Efficient and effective execution
• Smart Decision making
• Ability to wring last drop of value from
business processes
• All of above can be gained from sophisticated
use of ANALYTICS
Why compete on Analytics?
• Companies offer similar products and use similar
technology
• Geographical advantage or protective regulation
are eroded by liberalization and globalization
• Proprietary technologies are rapidly copied
• Breakthrough innovation in products and services
are increasingly difficult to achieve
Competing on Analytics
4. • Business intelligence (BI) refers to skills, knowledge,
technologies, applications and practices used to help a
business to acquire a better understanding of the market
behavior and business context.
• The purpose of business intelligence is to support better
business decision making.
What is Business Intelligence
5. • Analytics means extensive use of data, statistical and
quantitative analysis, explanatory and predictive models and
fact-based management to drive decisions and actions
• Analytics are subset of Business Intelligence
• Business Intelligence is a set of technologies and processes
that use data to understand and analyze business
performance
• Business Intelligence includes both data access and reporting
& analytics
What are Analytics
6. Analytics
Access &
reporting
Degree of Intelligence
CompetitiveAdvantage
Optimization
Predictive Modeling
Forecasting/ extrapolation
Statistical Analysis
Alerts
Query/ Drill down
Ad hoc reports
Standard Reports
What’s the best that can happen?
What will happen next?
What if these trends continue?
Why is this happening?
What actions are needed?
Where exactly is the problem?
How many, how often, where?
What happened?
Business Intelligence & Analytics
7. • Cuts through the clutter of multiple data reports and presents actionable
information
• Helps to combine various sources of data into one single repository to offer
ONE VERSION OF TRUTH
• Improves productivity of analytics team by cutting down time to gather, clean
and process data. With BI, the team can spend maximum time on analysis
and arrive at better business decisions
• BI helps to correlate various business dimensions as compared to linear single
dimension MIS reports
• Graphical and intuitive presentation of facts helps to focus minds on a
problem rather than getting lost in mountains of boring numbers
Benefits of BI
8. Stage Level of insights Questions asked Objective
1. Analytically impaired Negligible- “flying blind” What happened in our business? Get accurate data to improve operations
2. Localized analytics Local and opportunistic- may not be
supporting company’s distinctive capabilities
What can we do to improve this activity?
How can we understand our business
better?
Use analytics to improve one or more
functions
3. Analytical aspirations Begin effort for more integrated data and
analytics
What’s happening now? Can we
extrapolate existing trends?
Use analytics to improve a distinctive
capability
4. Analytical companies Enterprise wide perspective-, able to use
analytics for point advantage, know what to
do to get to next level, but not quite there
How can we use analytics to innovate
and differentiate?
Build broad analytical capability- analytics
for differentiation
5.Analyitical competitors Enterprise-wide, big results, sustainable
advantage
What’s next? What’s possible? How do
we stay ahead?
Analytical master- fully competing on
analytics
Competing on analytics stages model
9. Stay connected. Keep in touch.
Headquarters Regional Sales Office
A-114, Sundervilla, S. V. Road,
Near Vijay Sales, Santacruz (West),
Mumbai – 400054
+91 22 2660 5375
ECFY Consulting Pvt. Ltd.
552, 2nd Floor Gram Sabha Pooth
Kalan, New Delhi – 110042
+91 958 260 0153
business@webxpress.in www.webxpress.in