10 Dimensions of Business Intelligence
"Business intelligence." The smart alecks will claim that phrase is oxymoronic. Just think about recent news about major companies behaving badly owing to lack of intelligence about the untoward effects of their activities on their customers and on society at large. But my own critique will be more measured.
I think we can agree that all businesses need to know stuff ... all the time ... in order to fully exploit their participation in markets of interest ... and to sometimes consider entering new markets as well.
OK, what do they need to know? The following list is intended as a reminder of the most important dimensions of business intelligence that require attention from time to time from both defensive and offensive perspectives. Here are my Top 10:
1. Existing market stats
2. User impressions of products and concepts
3. Unmet needs and future requirements
4. Technology assessment and trends
5. Existing solutions and potential alternatives
6. Competitive assessment and positioning
7. Pricing sensitivity and analysis
8. User interactions and experiences
9. Business strategies and planning
10. Mergers, acquisitions and divestitures
Here's to staying informed for great success!