Business Intelligence in the current economic climate

Hi Everyone!!

This is my first post so all your feedback, criticisms, comments and suggestions are very welcome!

I would like to start with a brief description of myself with regards to my expertise.  I am a graduate and have been working as a Hyperion Business Intelligence consultant (my first real job) for the past 9 months.  I am infinitely passionate about the subject of Economics and the effects and consequences that even the smallest decisions (individually or corporately) can have on our day-to-day lives.  Thus, don’t be surprised if my blogs have either a mild, or distinctly pungent economic flavour attached to them.

I came across an interesting article recently and would like to share it with all of you (click on the link to access it). There is a part I and part II to it so be sure to read them both!

http://www.swifteconomics.com/2009/05/16/pretty-girls/#comments

http://www.swifteconomics.com/2009/10/14/pretty-girls-part-ii/#comments

Why did I ask you to read those?  Well, with the current economic crisis being the talk-of-the-town, and with everyone (including the “pretty girls”) having to ration out their incomes and change their behaviour in order to keep their heads above water, the decisions we make today are probably more likely to have larger impacts (good or bad) than ever before.  From a corporate point-of-view, these impacts have even greater implication – most specifically, financial.  In order to for these implications to work for you rather than against you, you need to be equipped with the right tools, and more importantly, the right information.  This is where the concept of Business Intelligence comes in.

Business Intelligence basically refers to skills, processes, technologies, applications and practices used to support decision-making.  The age we live in has commonly been recgonised as the “Information Age”, and with good reason.  There is so much information out there today – a simple search on Google can yield an answer to the price of your next fashion accessory or to the cure of your stiff neck (which, before the search, you probably mistook for a fatal disease!).  The point I’m trying to make is that being able to acquire and consequently analyze the right information at the right time can put you in a position to make the best possible decision for you or your business.

Don’t waste any more time!  If it’s information you need, Business Intelligence has a component for you!!