BUSINESS INTELLIGENCE :
CENTRAL LEVER FOR COMPANY’S PERFORMANCE.
By Andre Felix Bakehe
«…business intelligence is thus the set of processes and technologies that contribute to informed decision-making, based on facts.»
Business intelligence ranks fifth (5th) in a ranking of ten (10) business technology priorities according to a ranking of Gartner’s 2011 CIO Agenda (aka “Reimagining IT: The 2011 CIO Agenda”). This ranking, as if it were needed, brings up to date the place of choice occupied by the quality of decision-making in the pantheon of priorities of any company that wants to be in the permanent quest for performance.
In support of the management and executives of a company, business intelligence is thus the set of processes and technologies that contribute to informed decision-making, based on facts. Beyond this altogether noble main interest, business intelligence is also and above all a tool for building and maintaining a form of collective intelligence within a company.
Collective intelligence within a company is the link that allows various compartments of a company (finance/accounting, marketing/sales, production, operations, after-sales service, etc.) to not only become more aware of their interdependence through necessary cross-learning, but also ultimately to make the sectoral adjustments necessary for the collective good of the company.
The raw material of the business intelligence process
« Data is the preferred vehicle through which a company communicates about its past and present state of health. »
Data is the basis of any business intelligence process within companies and any organization in general. Data is the preferred vehicle through which a company communicates about its past and present state of health. In other words, any organization/company engaged in the systematization of a business intelligence process should necessarily collect data arising from and possibly related to its activities.
By data, we mean any structured/unstructured information or not, resulting not only from the internal activities (related to the operation) of the company, but also from those relating to its interactions with its partners and its external environment. Data beyond the control of the company, such as sectoral economic or macro-economic data, are also to be used.
From data to information!
« …the data has no real meaning if it is not deeply analyzed. »
For a company, all the processes contributing to the collection and updating of data materialize in a practical way by the effective presence of tables or databases, structured or not and saved using different media. and receptacles.
This is certainly an important first step, but the data has no real meaning if it is not deeply analyzed. By using specific data mining techniques, various information, simple or complex and very often hidden, is extracted. This information marks the second level in the deployment of business intelligence within a company.
From information to intelligence!
« Information allows the culmination of knowledge,… the sum of knowledge… will make it possible to build business intelligence tools. »
Information allows the culmination of knowledge, which itself is the concept that aims to understand information from established models that provide a conceptualization of said information.
Depending on the areas of interest as well as the specific business problems faced by a company, the sum of the knowledge now acquired from the information previously extracted is what will make it possible to build business intelligence tools.
Ultimately, these tools will have as their main objectives to answer the following four fundamental questions: What happened? What explains what happened? What’s going to happen? How to influence what will happen?