12:27pm Pacific, September 22nd, 2011 – As the time of writing this article, the U.S. Financial market is down over 511 points.
As the world watches the last couple years of the worldwide markets go up and down and up and down, it is very interesting to see how people consume that data to make decisions. We watch cable news channels like CNBC or Bloomberg to get up to the minute or even second on the fluctuations of the market. Within 15 to 30 seconds, 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.
We even have more access to our investments and markets via our smartphones and tablet devices. Now we can make real-time decisions based on the stocks that I care about, not what everyone else cares about. Information is personalized and presented in a form that allows me to make a decision quickly. I’m more informed and I can make a better decision.
But what about your business? How do you manage your business? How do you monitor your business? How do you get your information summarized for you? How do you get your information personalized and presented in a manner that allows you to make a decision. How do you get your whole team on the same page and working towards common goals? How do you get everyone included in the decision. How can you assign an action when one of your metrics is RED? How How How!
I can tell you this! It is not about self-service business intelligence, giving someone access to millions of rows of data to make a decision will result in making a wrong decision. Software vendors are telling us it is about BIG DATA and ANALYTICS! Its not about giving them a tablet device and telling them they can pinch and zoom and swipe and pinch and zoom and swipe to find the golden nugget. Give ME access and I’ll find those opportunities that will make us millions of dollars. Heard that before, that is just not true. How do I know? Because we have tried in company after company providing access to those big data sets so people can do their own analytics. They got access, but what they got was bogged down in the data and the calculations and trying to justify their numbers. I think anyone telling you this is just trying to sell you a bunch of software licenses you don’t need….
How do you provide REAL BUSINESS INSIGHTS to manage your business and get all your employees on the same page? Stay tuned next week for the answer… It is actually kind of simple and not that expensive…