In the world of business intelligence refers to the ability to collect the relevant information and to apply the new knowledge to further projects, whether these are financial, strategic, HR-related, or communication-focused. At the core of the principles of intelligence lies the double ability to collect the right data and to take an informed and unbiased decision – with Power BI vs Tableau being the two industry leader tools in doing so. To put it in other words, a business without intelligence is running towards a wall. Intelligence can be applied directly to business data, to your business structure, to your interactions with your staff, and to the way your brand communicates with your audience.
Understand Your Data
Data are part of your everyday business routine. Marketing data, business performance, and even business investment, data are in every activity of your company. But the main problem with data is that they can easily get overwhelming. It’s difficult to focus on the most relevant pieces of information when you have so much at the same time. It’s not uncommon for companies to work with business intelligence consultants to identify the relevant data for business growth. This simple step is essential to help the business create a successful strategy that can address weaknesses and opportunities. BI consultants tend to play an active role in defining future business strategies.
Understand Your Structure
There is a kind of intelligence that tends to be easily ignored in the business world: It’s the information that relates to the structure of your business. What is it? To put it in simple words, the structure of your business defines whether your staff work flexible hours or a set schedule, describe the kind of hierarchy that your have in your company – vertical or horizontal – and look at ways to optimize the productivity of your employees. It’s about defining whether the way your business is built works for what you are trying to achieve. For instance, with more and more employees demanding a healthy work/life balance there is an argument for flexible and remote work options against standard hours. Structure intelligence reshape your business to help you to meet your objectives.
Understand Your Staff
Your employees are the most precious resource in your company. They create growth, they can be your biggest advocates, and they can bring innovative solutions to tackle everyday challenges. But employees can only be as good as they feel in your company. Consequently, it is your role as an entrepreneur or a manager to ensure that your company has a form of people intelligence. It’s about understanding the pain points in your employee’s tasks and removing these, whether it means investing in a new booking system or ensuring that overtime is minimal.
Understand Your Audience
It is said that creativity is the highest form of intelligence. Indeed, it doesn’t only collect information about a specific topic, but it also shows the ability to address findings through the making of something new. When it comes to your customers, the creative intelligence helps you to understand their needs and to define a meaningful messaging in return. Creativity is an essential factor in keeping your company competitive and successful. Indeed, it is what differentiates your business from your competitors. Without creative intelligence, your business becomes unnoticeable.
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