- This latest buzz word, has been around since the beginning of the first barter – simply it means any information about your business
- generate/obtain accurate information
- trust the information only after vetting process
- acting on wrong information can be catastrophic
- understand what the information really means
- use BI to hold business accountable – examples:
- variance analysis
- performance metrics
- take action on BI – examples:
- if losing money, make changes to become profitable
- if one product is more profitable than another look at opportunities to increase sales of that item
- sales rep consistently not meeting targets, replace them
If you would like to improve your business or know anyone who would like to improve theirs, call me.