January - 2013 - issue > View Point
Collaborative Business Intelligence for a Competitive Advantage
Raghunathan Rangarajan
Vice President-Arcplan
Most important business decisions have far reaching consequences impacting the company as a whole. Business decisions made in isolation could lead the organization in different directions and may not have a positive impact on the organization. Good business decisions require a holistic approach with interpretation and analysis of data incorporating inputs and interactions from all stake holders across the organization. In addition to this several external factors can also have a bearing on the decisions made. In today’s digital era where tablet devices, social networks and cloud-based applications are common place business tools, a large volume of data is generated every day which is scattered across a wide spectrum, making Collaborative Business Intelligence an essential tool for effective decision making.
This emerging trend has prompted organizationsto increasingly look at collaborative business intelligence (BI) to achieve competitive advantage. In today’s aggressive business environment, Collaborative BI is leading the way to collective decision-making, allowing for greater efficiency, mobility and collaboration. Collaborative Business Intelligence allows users to tap into the wealth of information available in an organization with simple-to-use search functions. Users can comment, rate, tag, and share their findings with colleagues to enhance and accelerate the decision-making process.
A recent study conducted by arcplan revealed that a value-added approach to Business Intelligence can benefit a company in the following ways:
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