Figure 9: The value of business intelligence
How important will business intelligence be to the following aspects of your business?
(% stating extremely important or very important)
Understanding your customers better
Helping to make strategic decisions
Understanding your business better
Reacting to events in real time
Providing deep insight into business performance
Reaching new customers
Reducing costs
Reducing mistakes
Improving supply chain management
To stimulate debate and support innovation in your rm
Indeed, strategies that allow executives to analyze data quickly—and on any
device—is an important first step. But more and more executives are looking to
incorporate predictive analysis and scenario planning to help companies plan
for the future and ensure business continuity. Indeed, senior management in a
number of leading multinational firms, such as GE and Shell, are including multiple
scenarios and contingency plans in their strategies. And financial institutions are
extending in-house models to stress test their investment and lending portfolios.