admin – By José Oliveira, CEO, BI4ALL
Decision makers need to make decisions faster and quicker, based on intelligent and reliable analysis. Therefore, having the big picture of the organisation is fundamental, however, this information is often dispersed among several sources, which makes the process challenging, inaccurate and time-consuming…
How many times have you needed data that was spread across several sources? Have you ever thought about the time it takes to gather relevant indicators for decision support?
The market is unstable and competitive and requires managers to make smarter decisions, have competitive business models and align more targeted strategies.
Data-driven decision-making lies in consistency and continuous growth. It enables companies to create business opportunities, generate more revenue, predict future trends, optimise operational efforts and produce more knowledge about actions that can be implemented.
In this way, putting the insights generated at the service of the company also involves changing mentalities and behaviours, as strategic decisions are now driven by real and precise information. There is no longer room for decisions based on experience or hunches, giving way to a clinical look at the available and actionable insights. They are the ones that will guide decisions more accurately.
According to IDC, 83% of CEOs want a data-driven organisation. But for the adoption of disruptive technology solutions such as Data Analytics and Artificial Intelligence (AI) in the organisation to be successful and high-impact, it is essential to involve all elements, including senior management. Leaders’ involvement in digital transformation drives results and motivates teams to adopt technology solutions in their processes.
It is undoubtedly critical for management to have access to updated and visually appealing dashboards and reports that provide actionable insights into the organisation’s daily routine. Knowing what to expect from the market, what consumers want or the impact that a certain decision will have on the future of organisations are some of the many benefits that Analytics and AI solutions give businesses.
Furthermore, with a detailed analysis of the most crucial indicators, you can identify where to reduce costs, which processes can be optimised or which measures to take to increase productivity. Predictive analysis, for instance, also allows accurate forecasts to be made, leading to the creation of new products and/or services, risk reduction and adjustment of products or services according to consumer needs and trends.
Invest in the implementation of disruptive technologies in your organisation and you will see your company more competitive, profitable, innovative and strategic.
About the Author
José Oliveira is CEO & co-founder of BI4ALL. José has been involved in this market space since 1991 when such services were known as decision support services. He honed his expertise throughout this period, learning more and more about the sector as it changed from business intelligence to data analytics.
José is responsible for Business Development at BI4ALL. He was a member of the installation committee of the Corporate Governance of the Iberian Institute in a partnership with ISEG and VdA.
He is also the author of the books “Integrated Model for Efficient Management and Risk Control” and “Business Intelligence”.
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