From Business Intelligence to Intelligent Business

Summary

In this presentation, the speaker reflects on their transition from VP of Innovation to an independent consultant. They discuss the evolution of business intelligence, from decision support systems to intelligent businesses that integrate data and analytics for smarter decision-making. The future of business intelligence is framed as a shift towards businesses becoming self-sustaining entities that use advanced tools and data-driven processes. Human wisdom will still play a key role in strategic oversight, while automation will drive day-to-day operations. Governance, adaptability, and the right balance of people, tools, and data are crucial to this transformation.

Takeaways

• 🤖 The future of business intelligence is moving toward creating intelligent businesses, where decision-making is built into the processes, allowing businesses to function more autonomously.
• 💡 Business intelligence has evolved from 'decision support' systems to 'business discovery,' but the core goal remains helping businesses make better decisions.
• 📊 Every company is now a data company, regardless of industry, as data generation is integral to their processes and decision-making.
• 🧠 True intelligence is not just about having information, but also understanding, insight, and adaptability, enabling better predictions and decisions for the future.
• 👨‍💼 Human wisdom, gained from experience, remains essential in guiding businesses' strategic decisions, complementing the automated insights of intelligent systems.
• 🚀 Companies are transitioning from being 'data-driven' to 'analytics-driven' and ultimately toward becoming 'intelligent businesses' by applying advanced analytics and automation.
• ⚙️ Modern tools like in-memory computing and self-service analytics allow businesses to quickly set up data infrastructures, enabling rapid deployment and analysis.
• 📈 New developers should have knowledge of data analytics, as it is becoming a core competency for future-proof businesses.
• 🛠 Agile data storage and analysis solutions, like data discovery tools, provide flexibility for handling different business needs and allow for quick experimentation.
• 👥 Governance in data systems is shifting from gatekeeping to fostering collaboration, ensuring data is accessible to the right people while maintaining security and control.

Q & A

What was the speaker's previous role before becoming an independent analyst and consultant?

The speaker was the Vice President of Innovation at a company until last week.

What significant impact did the speaker believe they made during their six years at Click?

The speaker believes they made a tremendous difference in the world of business intelligence and analytics.

What does the speaker see as the future of business intelligence?

The speaker sees the future of business intelligence as moving towards 'intelligent business', where businesses themselves become intelligent entities with built-in intelligent processes.

What is the main difference between traditional business intelligence and the speaker's vision of 'intelligent business'?

Traditional business intelligence focuses on supporting human decision-making, while 'intelligent business' envisions businesses making decisions autonomously through intelligent processes.

According to the speaker, what are the key components of an intelligent process?

The key components of an intelligent process, according to the speaker, are insight, foresight, adaptability, and wisdom.

Why is wisdom considered a crucial component in the speaker's definition of intelligence?

Wisdom is considered crucial because it involves learned experiences, including from mistakes, which is a uniquely human element that cannot be replicated by machines.

What does the speaker suggest every company is today, regardless of its industry?

The speaker suggests that every company today is a data company because data is generated in every aspect of business operations.

What is the role of human beings in an intelligent business according to the speaker?

In an intelligent business, human beings provide wisdom and oversee the strategy and direction, while the business itself takes on insight, foresight, and adaptability through data and analytics.

What is the speaker's view on the current state of data infrastructure and its transformation?

The speaker views the current data infrastructure as having transformed significantly with advancements in in-memory computing, fast networks, and agile storage solutions, making it more accessible and efficient for business users.

Why does the speaker emphasize the importance of governance in the context of self-service analytics?

The speaker emphasizes the importance of governance to ensure that while data is made accessible and user-friendly, there is still control and oversight to maintain data integrity and security.

What is the speaker's advice for companies looking to transform into intelligent businesses?

The speaker advises companies to focus on strategies, people, and tools, and to embrace data and analytics to transform from data companies to analytics companies and eventually to intelligent businesses.