Note: Running Fridays in FromGregsHead.com, is a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the PKF Texas – Entrepreneur’s Playbook® page of the PKF Texas website.
Organizations that can take advantage of the wealth of data available to them see opportunities that their competitors will miss. The deep penetration of IT business applications into all areas of an organization which are creating efficiencies, are also creating rich operational data which also some high value.
Organizations can gain insights by looking at how data alters over time in response to different inputs and external conditions. This allows them to ascertain hidden cause-and-effect relationships allowing decision makers to make intuitive decisions in advances of actual results.
Reducing costs is always a goal of Business Intelligence and Productivity, but what happens when you know your customers better than they do and you can anticipate their needs by “your business intelligence”?
How important are you then in the eyes of your customer?