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Making the most of Business Intelligence

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Business Intelligence
break down
holistic approach
intelligent business

CIOs today are laser-focused on business intelligence, which, according to Gartner, is the top technology priority for CIOs this year. But don't think you can just throw a business intelligence system into the mix; getting real value means that many key corporate processes must be re-engineered. That means putting the money, time and thought into how to redesign processes, redirect internal communication, provide training, review pay and reward systems and implement effective data cleansing and reconciliation. But to make the most effective use of BI, consider the holistic approach, consolidating tactical BI solutions into an enterprise-wide BI service. This approach helps break down the divisions between different parts of the business, making the goal of one common version of the truth more achievable. And by developing an enterprise-wide BI service with the ability to deliver intelligence at every level of the organization powered by a consolidated and consistent source of data, organizations will become more adaptive, more efficient and more competitive.

Learn more about what it takes to implement a successful business intelligence system:
- read the article at vnunet.com

ALSO:
- read this on how collaboration increases business intelligence
- this on intelligent business intelligence
- and this on Business Intelligence 101

Comments

If an enterprise is going to integrate its Business Intelligence, the core of that BI model needs to be a record of the actual financial transactions that the company is involved in -- a subject that has been heretofore left to accountants.

If the Business Intelligence is organized around multidimensional (OLAP) databases, the core dimensions need to be the time and the debit and credit accounts affected by the transaction.

An accounting journal has always been a historical database of the company's business. We now have the technology to implement that journal (or a backup version of that journal) as a true OLAP database, allowing us to produce financial statements on a real-time basis and with simple SQL queries.

Other dimensions, such as business unit, product, customer, and activity type would allow us to turn the traditional accounting information into a powerful business intelligence system.
See my blogs on www.taodata.com.

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