{"id":564,"date":"2014-06-20T09:30:12","date_gmt":"2014-06-20T13:30:12","guid":{"rendered":"https:\/\/solutionsreview.com\/business-intelligence\/?p=564"},"modified":"2016-09-29T13:10:58","modified_gmt":"2016-09-29T17:10:58","slug":"business-intelligence-is-not-what-you-think-it-is","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/","title":{"rendered":"Business Intelligence is Not What You\u00a0Think It Is"},"content":{"rendered":"

\"Business<\/a>When looking at\u00a0the term business intelligence, you might\u00a0surmise\u00a0that it’s\u00a0information to help businesses make decisions that are useful and meaningful, right? By dissecting the two words, that seems to make sense. However, take what you think about\u00a0BI\u00a0and take that\u00a0to another\u00a0level\u00a0and then you’re probably closer to understanding what BI actually is.<\/p>\n

That’s my very brief interpretation of a blog post\u00a0written by Dr. Morten Middelfart, CTO of Targit, titled “3 Steps to Becoming an Analytics Driven Organization.” In this post, he states, “they’re [many large, international companies]\u00a0using the same sorts of management information systems today as they did 20 years ago: standard reports produced via their ERP systems and static analyses created in Excel. Newsflash: this isn’t business intelligence.”<\/p>\n

Well, if that’s not business intelligence, then what is? Middelfart does a great job defining business intelligence\u00a0as being a “three-step journey” that takes organizations from basic data analysis to creating new corporate strategies by looking externally\u00a0and “tapping into the available\u00a0ocean of data.”<\/p>\n

Let’s take a look at\u00a0Middelfart’s\u00a0“three step journey.”<\/p>\n

+ Check Out a Free\u00a02014 Business Intelligence Tools Buyers Guide<\/a><\/strong><\/p>\n

Step 1<\/strong>: Harnessing the power of your data (basic BI and Analytics) –\u00a0<\/strong>The first step is getting the data. The collection process can be a long and cumbersome activity,\u00a0but with the availability of many BI platforms, you can do this quickly with\u00a0acceleration\u00a0packages.<\/p>\n

Step 2<\/strong>:\u00a0\u00a0Executing\u00a0strategy while seeking operational excellence (real time data discovery and action) –\u00a0<\/strong>This is when you take what you’ve learned and put it into action. Actionable data is shared throughout the company to various departments, forecasts are\u00a0made, automated notifications are sent out\u00a0to the parties involved, and users can make proactive real-time operation maneuvers within their\u00a0KPIs.\u00a0Middelfart refers to this as, “the link between learning and doing.”<\/p>\n

Step 3<\/strong>: Shaping future strategy (competitive analytics) –\u00a0<\/strong>This is the most strategic stage. Analytics\u00a0is\u00a0used to make big waves. For example, the actionable data\u00a0is utilized to form the future strategy of the company. New KPIs are tested and adjusted over time. More external\u00a0data is used strategically (big data). For example, social media and search engine data are\u00a0collected and analyzed and brand perception can be determined well before a customer even\u00a0purchases a product.\u00a0Middelfart states, “At this level, there is a dynamic integration of BI. Organizations are contending against the competition based on their analytics. Internal and external data sources are at play. This is a true analytics-driven culture.”<\/p>\n

So business intelligence is the entire process starting from the minuteness of collecting data to an organization’s cultural acceptance of analytics? What are your thoughts and interpretations? I would love to hear them.<\/p>\n

This is a brief summary of Middelfart’s explanation of the “three step journey.”\u00a0Click here<\/a> to\u00a0read\u00a0the\u00a0entire\u00a0blog post.<\/p>\n

Check out these additional resources:<\/h3>\n

2016 Business Intelligence and Data Analytics Buyer\u2019s Guide<\/a><\/strong>\"BI_Data<\/a><\/div><\/p>\n

BI and Data Analytics Buyer\u2019s Matrix: Comparing 28 Vendors Features<\/a>
\n<\/strong>\"Business<\/a><\/div><\/p>\n

Gartner Magic Quadrant for Enterprise BI and Data Analytics<\/strong><\/a>
\n\"Gartner<\/a><\/div>
<\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

When looking at\u00a0the term business intelligence, you might\u00a0surmise\u00a0that it’s\u00a0information to help businesses make decisions that are useful and meaningful, right? By dissecting the two words, that seems to make sense. However, take what you think about\u00a0BI\u00a0and take that\u00a0to another\u00a0level\u00a0and then you’re probably closer to understanding what BI actually is. That’s my very brief interpretation of […]<\/p>\n","protected":false},"author":1,"featured_media":566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nBusiness Intelligence is Not What You\u00a0Think It Is - Solutions Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Doug Atkinson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/\",\"name\":\"Business Intelligence is Not What You\u00a0Think It Is - Solutions Review\",\"isPartOf\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2014\/06\/Business-Intelligence-is-Not-What-You-Think-It-Is.jpg\",\"datePublished\":\"2014-06-20T13:30:12+00:00\",\"dateModified\":\"2016-09-29T17:10:58+00:00\",\"author\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/5992f02d38e7b28251ad933cd131dcae\"},\"breadcrumb\":{\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/#primaryimage\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2014\/06\/Business-Intelligence-is-Not-What-You-Think-It-Is.jpg\",\"contentUrl\":\"https:\/\/solutionsreview.com\/business-intelligence\/files\/2014\/06\/Business-Intelligence-is-Not-What-You-Think-It-Is.jpg\",\"width\":600,\"height\":270,\"caption\":\"Business Intelligence is Not What You Think It Is\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-is-not-what-you-think-it-is\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/solutionsreview.com\/business-intelligence\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Intelligence is Not What You\u00a0Think It Is\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#website\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/\",\"name\":\"Solutions Review | Business Intelligence & Analytics\",\"description\":\"Enterprise BI software reviews, buyer\u2019s guides, and expert insights from industry leaders.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/solutionsreview.com\/business-intelligence\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/5992f02d38e7b28251ad933cd131dcae\",\"name\":\"Doug Atkinson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/092cfcbe5c7f2c185c21f152aada2d2f?s=96&d=blank&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/092cfcbe5c7f2c185c21f152aada2d2f?s=96&d=blank&r=g\",\"caption\":\"Doug Atkinson\"},\"description\":\"An entrepreneur and executive with a passion for enterprise technology, Doug founded Solutions Review in 2012. 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