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PKF Texas – The Entrepreneur’s Playbook®: Business Insight

by | Mar 13, 2009 | PKF Texas - The Entrepreneur's Playbook®

Note: Running Fridays in FromGregsHead.comis 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.

The quality and timeliness of business decision making depends on the insights drawn from the oceans of information available.  Today’s technology challenge is no longer opening access to information; rather, it is opening access to insight.

When you and your organization can anticipate change, rather than simply reacting to it, you have mastered Insight from Complexity.

Microsoft recently indicated that gaining insight from increasing amounts of data can be categorized into the following three broad steps:

  • Finding the sources of insight.  Identifying the components of the ever rich data environment that will unlock patterns of behavior that reveal new opportunities.
  • Moving from insight to action.  Visualizing data to spot trends, listening to customers for insight and feedback.  Collaboration with colleagues and partners to make sure value is achieved.
  • Staying productive in an information rich environment.  Managing content, context and contracts; dealing with interruptions; and keeping data up to date.

We will have additional comments on Business Insight in the next few weeks.
 

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