Full Service BI Solutions
What is Business Intelligence?
Business Intelligence is a term referring to the combination of analytical methodologies and technological tools and applications used to turn vast amounts of data (“big data”) into meaningful information to support your company’s decision-making. Ultimately, business intelligence, or “BI”, helps your business make faster and more informed decisions. BI has many applications, including analytics, measurement, and reporting.
The purpose of analytics is to provide data- and analytics-based solutions and strategies for optimizing company decision-making (e.g. price optimization or demand forecasting).
The purpose of measurement is to deliver key performance metrics and benchmarks to help business leaders measure progress towards achieving business goals.
The purpose of reporting is to provide strategic company reports to business managers (as opposed to operational reporting), typically via visually appealing dashboard applications.
Why Do I Need Business Intelligence?
Simply stated, its the way the world is moving . . . you must embrace business intelligence-based decision-making or be left behind. Paraphrasing Boston Red Sox Owner, John Henry, in the movie Moneyball, “Anybody who’s not tearing down their team right now and rebuilding it using [analytics] … they’re dinosaurs …” Over the next decade, organizations that aren’t successful in using big data, deep analytics, and business intelligence products and strategies will simply not be able to compete. Top performing organizations are already much more likely to successfully use business intelligence, according to a comprehensive MIT/IBM study. And, “[b]eyond 2016 . . . big data analytics will pervade almost everything that we do, helping push society unequivocally into the digital age” says Gartner, the world’s leading information technology research and advisory company [http://www.gartner.com/newsroom/id/2637615].
Why Choose Competitive Analytics to Provide Business Intelligence?
Because we deliver. In contrast to the numerous stories of failed business intelligence solutions, Competitive Analytics successfully provides companies with actionable business intelligence services generating proven bottom line results and a healthy ROI for over 14 years. There are many reasons that three out of four BI projects fail. But, the biggest reason is that too often business intelligence is confused with the technology of business intelligence. Our business-centric approach is one of the primary reasons Competitive Analytics has been so successful in delivering results to its clients’ companies. We are first and foremost economists, market analysts, and business strategists with the know-how to apply the “right technology” to accomplish your BI objectives. We believe IT is merely a servant to BI. Often the case with failed business intelligence projects and solutions, BI becomes a servant to IT. Giving our clients the confidence and strategy to make the best, and ultimately most profitable, decisions has also been a key to our company’s successful track-record. We bolster client confidence by delivering business analytics that are unparalleled in terms of robustness and accuracy.
Still not sure if you need business intelligence?