Insight to action
Maybe it's just me, but at times it feels like the consumer goods industry is as unforgiving as a modern-day battlefield. Think about it. New products are now launched with the might and accuracy of a U.S. Patriot missile and former enemies (Coors and Molson, anyone?) are now friendly allies. And let's not forget about "Mandates and Deadlines", uncharted and sometimes dangerous territory that can very quickly drain the morale and revenue from any organization.
Certainly, technology is the common thread that has the uncanny ability to both help and hurt a company in a time of heated competition. And while virtually every tech investment sometimes feels like navigating a rubble-filled roadway, that road is becoming far less treacherous, which is a good thing. More than ever, disparate systems are being cleaned up and consolidated. Retail relationships are strengthening through creative trade promotions strategies. Out-of-stocks are dwindling and customer satisfaction levels are rising to near-perfect numbers.
Business intelligence and analytics are the next generation of great technology enablers that will ultimately dictate who wins and loses market share. According to AMR Research, revenue generated from these two sectors will rake in some $9 billion dollars this year (see Quality Control pg. 20). By 2007, that number climbs to more than $11 billion. What does it mean to provide business intelligence? It is about empowering every member of an organization with accurate customer and business insight Ideally, these next generation solutions deliver the right insight, to the right person, at the right time. This month's cover story on Diageo is not a business intelligence story but CIO Barbara Carlini believes that because her company's IT infrastructure is now aligned, the organization will look to outpace its competitors in 2005 and beyond with a healthy dose of business intelligence and analytics. Fortunately, size doesn't matter with business intelligence. Pierre Foods (pg. 20) and Home Interior & Design (pg. 22) are two mid-market firms using company insight to better track sales and outpace competitors. Feel free to drop me a line at [email protected] and let me know how your company's business intelligence strategy is shaping up.