Automation and Business Intelligence

Utilizing business intelligence is far from a new practice. “Early investors in the Dutch East India Company sought out newsletters about the fortunes of ships around the Cape of Good Hope before they arrived in the Netherlands. The Rothschilds supposedly owe much of their fortune to a carrier pigeon that brought news of the French defeat at the Battle of Waterloo faster than ships.”

Having the ability to see what is happening is often the best insight available for firms hoping to get a leg up on the competition. But how does one go about implementing systems that can deliver these crucial insights?

“We start with the data and look for a hypothesis”

  1. Take inventory of what you currently know about your specific business functions processes
  2. Verify what processes are repeated for that particular function of the business
  3. Identify and document each portion of the process
  4. Implement systems to track and automate these processes
  5. Collect your business intelligence data
  6. Learn from your historical performance
  7. Forecast potential outcomes
  8. Identify potential anomalies
  9. Implement and iterate on new ideas quickly
“What determines the amount of data that you really have to work from is the size of the thing that you’re trying to forecast”

Utilizing advanced analytics large companies are now engaging in detailed process mapping, looking for opportunities to streamline operations, and eliminate redundant processes. The initial effort required to implement these systems can often be daunting but when analyzing the return on investment for analytics projects, when deployed correctly, the value is very clear.

If you and your team are looking to utilize business intelligence within your organization contact Apixibot today, and a member of our team can help start you on the path towards a data informed organization.