Do you know how to improve your customer relationships, increase revenue and maximize operational efficiencies with confidence – and a simple glance at your own business data? If not, your competitors could be a few steps ahead and you may want to think about hopping on the real-time train.
It is interesting to see how people consume that data to make decisions. We’ve all watched the worldwide markets go up and down over the past few years as we tune into the cable news channels like CNBC or Bloomberg to get up-to-the-minute or even seconds on the fluctuations of the market. Within a 15 to 30 second glance, we immediately know what is going on and what we need to do. Information is summarized and presented in a manner that actually resonates with us, so we are able to confidently act on it. With the development of smartphones and tablet devices, we now have even more access to our investments and markets and can make real-time decisions based on the stocks that we, individually care about. Information is personalized and presented in a form that allows us to make quick, informed, better decisions. So, why don’t we manage and monitor our businesses in the same way?
Many organizations continue to make reactive decisions based on summarized historical data. Some BI decision makers are even still using two-dimensional charts and simple spreadsheets to base their decisions on. Other enterprises climbing the BI maturity ladder have already automated most of their operations, resulting in large portions of valuable data residing underutilized in incompatible systems. This unstructured data is an untapped resource, just waiting for discovery.
Software vendors keep telling us the answer to taming all of this information is all about big data and self-serve BI analytics, but they are just trying to sell us a bunch of software licenses we don’t need. When it comes to understanding your business, an investment in self-service BI software will surely get you bogged down in the data and calculations, while trying to justify your numbers. Access to millions of rows of data will not ensure you are making the right decision – you won’t find that “golden nugget” with a pinch, zoom and swipe on your tablet device. Self-service BI wastes the time of busy end-users, pointing them at big data and expecting them to make use and sense of it. What they really need is access to well-defined sets of information that allow them to do their jobs better.
Today’s BI user isn’t sitting at a desk, nor are they limited to the domain of the analysts and statisticians. BI users now include the entire workforce in every role, including team members, managers and executives. Managing data through well-designed BI apps has the potential to deliver enormous value. Real-time BI involves on-the-fly decision-making made possible with personalized business information – summarized and presented in a visually “alive” manner. Similar to monitoring the financial markets on TV, you can focus on the metrics that matter most to you and your company with all of your metrics gathered into one place and accessible on any device. Executives can be self-sufficient with access to up-to-date information on their mobile devices, without having to learn complex reporting tools – they are now able to concentrate on their real jobs, making those most important decisions. Managers are able to get their team members on the same page, working toward common goals and are included in decision-making. Team members are instantly alerted to an assigned action pertaining to a metric that’s suddenly RED.
Access to all of your data on your mobile device with visually interactive and even predictive insights allows executives, managers and professionals to make better and faster decisions more often. You can break free from the past and turn your business into a business intelligence powerhouse – within hours – and bring the “power to know” to your users and real-time to your business operations.
The top funded venture capital categories are technology companies that deal with gaining insights out of data. Whether they’re a social media company or a transportation company looking for better routes to reduce fuel consumption, they are all trying to find insight into their business data. But, no matter what new solutions are developed to track or improve a specific problem, a new problem is being created where companies are now experiencing too many data sources, leading to big data chaos.
Check out the following slide from Luma showing all the different marketing technology companies (updated March 2013). In the marketing segment alone, it’s all too clear that there is a level of big data chaos like we have never seen before. Everyone claims their solution will collaborate with your existing process, handle all the big data and guaranteeing to deliver better insight. So far we’re hearing companies are spending time, money and patience as they discover more problems and experience the same disappointing results.
The real issue is that we don’t have just one system, we have multiple systems. Companies’ big data issues are not about the volume of data, but rather the number of data sources. As a result, we are forced to visit numerous sources to view the built-in reporting solution to glean any insight into the performance of the business. This provides a VERY limited perspective of data to determine the true results of a campaign, project or even daily operations. It’s actually a HUGE productivity drain. And that is just marketing systems.
Think about how we need to integrate other lines of business data sources into an intelligence enterprise. Today, it’s a new level of data chaos like never seen before, but not for the reasons you may think. Data chaos doesn’t come from the volume of data, but results from the following (to name just a few):
- numerous data and reporting solutions
- various data storage and retrieval locations
- technology moving faster than a company’s capital resources
- constant change in technology upgrades
Business intelligence and analytic software companies would lead us to believe that purchasing their self-serve BI tools will fix the issue, but it often ends up making it worse, in the long run because analytics quickly become inaccurate, delayed and untrusted.
In my experience, companies are beginning to take a step back and slowing their purchasing decisions, thinking about what they actually need from the volumes of data and making sure it aligns with their strategic objectives. It is time to go back to the basics and re-think the kind of data we need to run our businesses. We need to develop smarter data warehouses which can assist in the collection of these numerous data sources. We need to re-think our delivery methods to mobile devices and not just provide another dashboard squished down to fit the device, but maybe just the metrics that someone cares about this month in a real-time fashion.
Patrick Husting is a business intelligence mastermind who has guided companies like Microsoft, Intel, Gallup, HP, Dell, Honeywell, Nordstrom and Polo Ralph Lauren over the past 18 years – establishing a new way for organizations to leverage data in their business intelligence solutions. Using his own capital, Husting created Extended Results on the premise to provide a different experience called Personal Business Intelligence, for businesses. In just three years, Husting grew Extended Results nearly 578% in revenue, in spite of the recession. Being the CEO and founder of a leading Business Intelligence Services and Software company, Husting is revolutionizing the way companies evolve by offering business intelligence solutions to companies across numerous industries, including media/entertainment, financial services, government, health care, manufacturing, high technology, and retail with new and emerging technologies.
For an interview or to learn more about Patrick and Extended Results please email email@example.com
Last night we attended the launch party of Arrow Airlines, a private airline shuttle between Seattle and San Jose. I had the pleasure of meeting Russell Belden at a GeekWire event a couple months ago and got pretty excited about his new startup that totally shortens the time it takes to get to San Jose from Seattle and back. No more airport delays and TSA trying to touch your junk (Russell quote).
Russell had his launch party last night and what a time it was. How cool is it to take one of his passions of flying and work that into an exciting brand new business. The food was great and the networking was fantastic. Learned a lot more about the airline industry.
It was an amazing evening at the King County Airport. You drive up and walk right out to your plane that is waiting for you. Love the RED carpet treatment. Look at that sunset in the background.
PUSHBI is the perfect application when you are jetting across the skies at 450 miles an hour! The data is on your device ready to go and have discussions on making your business better. (product plug)
That is John Cook from GeekWire. He grabbed my business card, being the Golden Geek that I am and entered it in the drawing for a FREE round trip on the plane.
And to top it off, I won the grand prize! WINNER! Go figure, probably rigged. So then I got my picture taken with Russell and all the stewardesses.
I now have my own private plane. Sweet!
Business must be good! We all know what a pain it can be going to an airport to travel to visit with customers, so much time can be lost. So we decided to contact one of those private jet companies to see what they could do for us. We got back some brand wrapping samples and tonight we go check out the airplane. Check it out.
Tonight, we get to visit the hanger to check it out. No, we are not getting the $30 million dollar jet, we found something way cheaper!
Who’s in for the 1st ride?
PUSHBI for Windows 8 is really getting some attention lately – including being showcased in the Microsoft booth at the National Association of Broadcasters Conference and also featured in various Microsoft Summit Keynote Presentations. Why? Well, I’m glad you asked!
PUSHBI is a different kind of business intelligence application. It is NOT another report or another self-serve BI tool. It is a Personal Business Intelligence application available on any mobile device and across all platforms. PUSHBI is easy to customize to your already existing reporting resources and will instantly provide real-time data delivered to the right people, at the right time and to any device.
PUSHBI is truly center stage this week, as it is being seen on over 20 devices at the Microsoft booth – alone. If you’re attending the conference make sure you stop by and experience PUSHBI for yourself. If you’re not attending the conference and want to see what all the hype is all about check it out online at www.pushbi.com and start operating your business in Real-Time.
Pictured: Microsoft’s 80 inch touch screen running our PUSHBI Video. How crazy is that?!
A big THANK YOU to our partners at Microsoft!
If you would like to try PUSHBI for your company, visit http://pushbi.com and download the App for your device. Don’t forget to take advantage of our FREE 30-day trial of PUSHBI Now.
A friend at Microsoft sent me a link about the Windows Retail group promoting our PUSHBI solution for Windows 8. I went to the Windows site and sure enough we’re listed right next to Amazon and eBay! Actually ours is before theirs……just saying.
PUSHBI on Windows 8 is a must have solution – it is like having your company’s own CNBC available on your Phone/Tablet/Desktop.
If you haven’t yet – check it out by visiting the Windows Store.
Thanks for making PUSHBI one of the TOP business applications in the Windows 8 marketplace.
Happy Analytics, Patrick