Michael Stirrup, Senior Consultant at Waterstons talks about how business intelligence can aid decision makingâÂÅ
Imagine if Gordon Brown didnâÂÂt have the research poll information showing the latest upswing in support for the Tories. Then imagine if heâÂÂd called an election and lost. Depending on your political standing this may or may not be a good thing (!), but one thing is for sureâÂÅ .. Gordon would have made the wrong decision if he didnâÂÂt have all the necessary information at hand.
Everybody has to make important choices in business. But how can you possibly do this without having relevant, accurate and up-to-date information? This is where Business Intelligence (BI) is required. A good BI strategy takes all the information and data from all parts of a company and its systems. It converts it into one central database, or Data Warehouse, which gives staff members the information they need to allow them to make timely and accurate decisions.
Reports and Key Performance Indicators (KPIs) can be produced from the Data Warehouse with ease; banishing the work required in extracting data from multiple systems and allowing you to concentrate on analysing data rather than preparing it. New technologies will only increase the ease in which reports and information are presented. The futureâÂÂs bright, the futureâÂÂs BI!
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