Strategic decision defines overall business direction and performance in following years. There are several rules that must be fulfilled to get effective strategic decision. Strategic decision is more effective if it is made in conjunction with business intelligence knowledge because it relays on real business.
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With current technology it is possible to make very powerful and intelligent decision system but current technology (software, methods, know-how and hardware, procedures and etc.) is not stuffed with right methodology/concept that can provide best decision system for drilling deep into corporate knowledge and information base without clutter effect. Not being stuffed with right technology means to have built-in methods and concepts in application core. If application is not built on targeted method, application
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Knowledge Management and Business Intelligence
How does Business Intelligence participate in Knowledge Mangement? It does but as one source of information and therefore corporate knowledge. Figure Knowledge Management and Business Intelligence shows participations of differnet participants in information flow and their contributions in (graph at the bottom) knowledge management and in support to different types
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Basis for any strategic management decisions are analysis with influences on short and long term financial statements – results. It is not only profitability that needs to be taken in analysis because, short-term decisions could lead into significant enhancement of Profit (NOPAT – Net Operating Profit After Taxes) but in long-term period company might lose on its value much more because of this profit enhancing strategic decisions. Companies could even go to bankruptcy if they lose experts, innovative cycles, process and environment value. They could lose their competitive advantage. All this could happen if strategic management analysis is oriented on short-term financial results aka maximizing current profitability.
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Business Decision Making should be tightly aligned with measuring decisions possible impacts on business results, financial and non-financial, before appliance. Key thought is measurement and comparison of measured results. Without measurable and comparable results making decisions is pretty much like fishing in muddy water.
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New products are highly complex for IT and usually current structures in business intelligence solutions cannot properly handle their reporting processes without additional efforts in human experts working days or even with engagement of vendor. BI solutions are state of the art in sense of dynamic calculation capabilities but they cannot predict all significant changes in information structures like introduction of new dimensions and measures: sales channels, affiliates, new customer segmentation and etc. Marketing creates more products in shorter time ranges and marketing needs more business intelligence analytics and reports. During time without proper rewrite and restructure, BI tools will not provide high quality and detailed data for generating new products. Investments are not sufficient in BI and reports are less capable to provide data and information hunger in company. It is wicked business intelligence investment circle without proper solution.
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Better Business Decisions can be made with core redesign of reports and plans by better and quicker integration of information. Integration must became business simulator for better business decision making.
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There are many reasons why Business Intelligence fails. Here is the TOP LIST of Business Intelligence FAILURES. Top reasons why Business Intelligence fails.
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Business Intelligence solutions were invented to ease data gathering and publishing, to help with information interpretation. With implementation of business intelligence solution this process really happens. Users get much easier reports, information flow is much faster. After a while, users generate more and more different reports and data. BI users are creating information avalanche. At the end BI solutions are cluttered with information overload. At the end in mass of beneficial, main benefit of Business Intelligence is lost which was to reduce information clutter.
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Beams for the ceiling
Beams for the ceiling is definitely point from where Business Intelligence should be learned. Beams have several horizontal bars in order to make stability and no distortion in ceiling.
Stability and no distortion actually means integration in business intelligence world. Element needs to integrated in order to provide stability of system.
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