BI Value Chain - Speed to Insight

“We measure success by how fast we can get to a new insight. Speed to insight.”

In order to unlock the maximum potential of fast and reliable insight we need to optimize BI Value Chain. The idea of BI Value Chain is based on the process view of organization to enable better decision making. For organization to use and manage their data meaningfully and insightful, organization need to achieve closed-loop interaction between value enablers, and they do so by adhering to three specific Value-Enabling Rules:

Value-Enabling Rule #1 – Data must be relevant

Nobody needs to be flooded with useless data. Effective decision support begins with the identification of data that helps strengthen the decision-making process so that business leaders can make a real difference.

Value-Enabling Rule #2 – Information must be meaningful

Meaningful information is useful information. It’s accurate, consistently defined and relevant to daily behavior. Information is useful when it helps you run your business effectively. But, if you’re just presenting information that’s neat and nice but doesn’t evoke a decision or impart important knowledge, then it’s just noise.

Value-Enabling Rule #3 – Insight must be actionable

Information becomes insightful when it imparts important knowledge relevant to the organization strategies, objectives or plans. Actionable means the insight is easily understood and delivered in a method and time frame that provides an opportunity for the decision-maker to act.

However, the problem is, for every organization that empowers decision-makers with relevant data, meaningful information and actionable insight, many more fail to fully capitalize on BI’s promise of enabling real and meaningful business impact. It’s a pervasive problem and one that touches companies or every shape, size and industry