2011 Is All About Business Intelligence

Do you think 2011 will be all about cutting costs and reducing expenditure? If your answer is ‘yes’, you might need to think again. While senior executives will be charged to find ways to make the business run more efficiently, money will still be found for the right projects.

IT is likely to be one of the business’ priority areas. All organisations now rely on technology to help deliver services and products to customers, whether it’s healthcare and education in the public sector or financial reports and retail goods in the private sector.

TechTarget’s 2011 IT Priorities Survey reveals that 60 per cent of IT departments will spend more on software this year. In particular, the drive to improve planning means 41 per cent of IT leaders cite business intelligence (BI), analytics and data warehousing as a key 2011 initiative.

So, why will BI be so important in 2011 and how will it help your business to meet new targets? The key reason is knowledge – analytics helps organisations to monitor and understand big data sets, providing the right information to key executives at the right time.

The organisations that succeed in the upturn will be those that know, and engage with their customers. In an ever-competitive global economy, access to real-time data will mean your organisation is better prepared to deal efficiently with subtle changes in demand.

It’s not just about efficiency, either. Continued pressure in the public sector, and a raft of private sector regulations around finance and sustainability, will mean organisations must be able to show how data is held and used.

With an increasing number of cloud-based BI solutions becoming apparent, there has never been a better – and more cost-effective – opportunity to introduce analytics. On-demand BI will not just provide key information to executives; it will also provide a quick return on investment for the cost-conscious finance director.

With such gains, for so small an outlay, what is there to lose? The organisations that win in 2011 will be those that understand the power of information.

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Dean Dickinson is Managing Director of Advanced Business Solutions, formerly COA Solutions. Dean has been in the finance software business since 1990. He was part of the senior management team at QSP/Arelon prior to the acquisition by COA Solutions at which time he became Deputy Managing Director for the business as a whole. Since the acquisition of COA Solutions by Advanced Computer Software Group in February 2010, Dean has become Managing Director for Advanced Business Solutions. He is a specialist in consultancy and has a strong knowledge of business processes within a high volume/high value environment.

  • I have to agree with what you say about business intelligence Dean, especially cloud based solutions. Quick ROI is one of the things our SAAS BI solution Bime provides. But as you say, the most valuable thing it can provide is knowledge and information – in the end, every new fact that you discover with your BI software could be one that translates into big benefits for your business. Now is definitely the time to invest in these solutions.

  • Hello Dean

    I'm with InetSoft and I have to agree wholeheartedly with your observation. Organizations of all types – large, small, private, public – will reap tremendous benefits from being able to monitor real-time key performance metrics. What's more, BI has come a long way from where it was earlier in the decade. It's so much more user-friendly nowadays that even the most non-technical person can quickly jump right in and start exploring data. And as you point out, "The organisations that win in 2011 will be those that understand the power of information."

    Cheers

    Mike