Category Archives: Predictive and Analytical analysis

  • 0

Business Intelligence – What is it?!

Tags : 

We have heard many explanations of what is Business Intelligence (BI). I heard today one that is worthy of being copied. This is from Jaakko Hirvensalo, Vaisala Group, Finland.

What is Business Intelligence?

  • Information based thorough understanding of the Customer need
  • Agile measurement of the Customer need
  • Information based thorough understanding of Company’s key earning models
  • Agile measurement of Company’s key earning models
  • with this thorough understanding and agility, creating reaction capability and traceable winning scenarios for the future

Jaakko presented it like this: “Business Intelligence defined here as: Information based thorough understanding and agile measurement of the Customer need and Company’s key earning models creating reaction capability and traceable winning scenarios for the future

But this only is not enough to be ‘business intelligent’. We’ll not make better decision just by implementing BI in house and asking ‘now you have tools in house so make it better’.

We need attitude change. We need next generation Leadership combining intuition, facts and strategy. And now, when we’ll have thorough understanding of our business and all the facts, we need courage to accept those facts and the most important, also courage to admit our fact based mistakes, and courage to take fact based calculated risks. And so we’ll learn. And we’ll learn to make even better decisions based on what we have just learned. – Intuition, Facts, Strategy –

Published on: Jan 26, 2012 / Petri Hakanen