BDO Solutions recognizes that Business Intelligence (BI) is not about software, but rather a set of management and analytic processes that refers to the following:
- Making the right decision
- Based on the right data
- At the right time, and
- Enjoying the rewards
People – BI can give insight to people at all levels of the organization, from those at the strategic level through to the operational level. In fact, BI can be leveraged to those outside the organization, including other stakeholders, business partners, clients and prospects.
Making the Right Decision – The goal of BI is to leverage technology to make better decisions fast. Technology can assist people in the decision making process from observation to orientation to decision and finally to action.
Based on the Right Data – BI data sources now extend beyond on premise ERP, CRM and LOB systems to various big data sources, such as online social data from Twitter, Facebook, Linked In, etc.
At the Right Time – The ability for users to do self-service ‘on the fly’ analysis of data from traditional data sources, as well as, new data within moments is crucial.
Enjoying the Rewards – From increased profitability, reduced risk, agile responsiveness to focused innovation, the outcome of successful BI varies on organization goals.