United Kingdom

Details

  • Service: Advisory, Management Consulting
  • Type: Business and industry issue, Video
  • Date: 24/10/2012
  • Length: 2:27 Minutes

Essentials: Business intelligence 

Business Intelligence:

Business intelligence


‘Essentials’ for Consumer Markets


“Information has never been so freely available, yet paradoxically management has never felt so uninformed.

 

“Most consumer businesses are frankly overloaded with data, as a seemingly endless stream of large reports circulate around the organisation. Unfortunately these often contain inaccurate, out-of-date information that offers little insight into the issues that matter most. Add to this the vast amount of data about consumer goods and brands in the social media world of Facebook and Twitter, the problem facing consumer businesses can be akin to the story of the Ancient Mariner ‘Data, Data, Everywhere...’

 

“It’s time for leaders to be brave enough to slim down their metrics and measure what really counts. By linking data to performance management and rewards, and by using reliable information in scenarios and models, coupled with trusted sources of external information, it’s possible to dramatically improve the quality of decision-making.

 

“And while IT of course has a role to play, you should hold back on that costly software purchase. Rather than ‘bolt on’ new management information systems, companies should first establish their core business objectives – and then determine what data is needed to drive towards these goals.

 

“The resulting infrastructures should be fast, fully automated and flexible enough to adapt to changing business needs.

 

“Placing information at the heart of the business in this way can ensure a focus on strategic goals, whether it’s cost management, manufacturing, retail, supply chain, logistics, sales and marketing or customer service.

 

“With a strong business intelligence culture and structure, information can start to be a means of gaining real competitive advantage.”

 

Good, reliable and up-to-date information can be a source of competitive advantage by helping leaders understand customer and stakeholder needs and marketplace expectations.

 

For further information, contact:

 

Eddie Short

Partner
Business Intelligence 

 +44 (0) 20 7694 4442
eddie.short@kpmg.co.uk

 

Share this

Share this

Read more

    Read more in our one page document (PDF 288 KB)