Business Analytics is no longer just a buzz word. It has stood the test of time and is no longer limited to enterprise level organizations. Mid size businesses that did not have the financial resources to dive into an analytics tool like Cognos Business Analytics are embracing the tool as they can quickly cost justify their investment (See my article “JUSTIFYING THE COST OF BUSINESS ANALYTICS WITH ANALYTICS”).
So what is the business driver for investing in an Analytics tool like Cognos?
Business Analytics drives consistent focus and in both business and life consistency encourages growth. James Johnson, a great mentor of mine showed me the value of consistent measurement. This proved to be a game changer for me because it gave me comfort in my daily actions knowing that though small and seemingly insignificant these investments shape the future.
Still in many companies today decisions are made from the top and projected down to the rest of the business after monthly or quarterly management meetings. The image in the post compares this mentality to the value of consistent daily measurement and analysis.
In order for a company to efficiently utilize data on a daily or even hourly basis they need a platform to deliver it (Read my post “Analyze your past and present to shape your future with IBM Business Analytics”). That tool has to be available on any device, at any time, at any location, weather you’re connected or unconnected. While I don’t condone analyzing business data on the golf course I can insure you that it’s possible. You can also get it on the beach in Maui (No experience with this personally but will test it someday), the board room, the shop floor, or in your customers lobby. In today’s fast paced business environment having the data you need when you need it is a major competitive advantage. That is where Cognos Business Analytics empowers people at all levels of the business to monitor and adjust their course to meet business objectives from any device in any location (Read my post “Better business outcomes with Cognos Business Analytics
So in business and in life consistency is key to growth. Jim Collins refers to it in his most recent book as the “20 mile march”. Cognos business analytics is just the tool that makes it possible to quickly and efficiently understand your next move.