Based on a survey of 225 business leaders worldwide, carried out by IBM, it was found that enterprises are operating with bigger blind spots and they are making important decisions without access to the right information.
There is wide recognition and appreciation for new analytics coupled with advanced business management capabilities in terms of being an opportunity to close gaps and create new business advantage.
The challenge for a substantial number of businesses now appears to be information. Information is needed in hours, minutes and seconds as opposed to years, months and days, and decision making is now largely fact driven rather than based on intuition and instinct.
More than one-third of business leaders say they have significant challenges in extracting relevant information and using it to quantify risk and predict possible outcomes.
Business leaders, having identified significant information gaps, are poised for change.
Nearly three in four say more predictive information will drive better decision making to a great extent.
Only those businesses that can skillfully adopt, integrate and deploy the benefits of enterprise wide analytics and optimisation will be prepared to shape their own futures. They will be aware and precise, supporting their businesses through questioning, anticipating and empowering their employees to make more informative decisions which can be checked against facts rather than gut feelings. Business intelligence provides an organisation with the opportunity to become more efficient, achieve higher growth as a result of more insightful relationships with customers, prospects and their market as well being more proactive in terms of risk management.
Business environments are in constant flux as are information needs and organisations of all sizes should seek to gain support in managing data and interpreting and structuring it so that it becomes a source of knowledge and valuable utilisable information.
The SAP Business One application together with the Crystal Reports offering from the SAP Business Objects portfolio, delivers compelling reporting functionality and information access to small businesses. With these offerings small businesses can get up to date intelligence to drive decision making.
To find out more visit: http://www.sap.com/solutions/sap-crystal-solutions/index.epx
Intelligent Information Systems are an SAP Gold Partner, delivering SAP Business One and Crystal Solutions. To find out more visit: www.beabetterbusiness.net
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