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Worried your company might outsource your job? And, really, who isn’t
One trick to keeping your job right where it’s been is to pick your head
up from the tech a little and focus out on the business. Become a player
on the business side of the aisle, according to some industry analysts
and IT administrators.
”Companies start to look at outsourcing when you’re not meeting their
needs,” says Patricia Bramhall, president of Tydak, a Thousand Oaks,
Calif.-based consultancy. ”IT has, for a long time, been seen as the
black hole of expenses. A lot of money goes in and not much comes out.
But if your attitude is focused on the customer, they’re not going to
look down on you.”
Bramhall, in a one-on-one interview with Datamation says she’s
often called in to work with IT organizations and help align business
with IT. And often, she notes, it’s the IT organization calling her in
because they know that business executives have become frustrated with
them and they’re tired of being ‘beaten up’.
And that, Bramhall says, is just one step away from being outsourced.
”When things get that bad, whose fault is it,” she asks. ”It’s all
from not talking and poor communication. IT people are usually moving as
fast as they can to get the job done. But if you don’t really know what
the business needs, you won’t deliver, no matter how fast you’re
And to make sure you’re focusing all your efforts in the right place,
it’s key to understand the business, says Alan Abbott, a senior vice
president with Bank of America. Sit down with the business side, find out
what they’re working on, what their goals are and what they need to make
all of this happen.
Sitting at the Table
Once you do that, Abbott says you should be ready for a seat at the
table… the executive table.
”We’re at the table helping make business decisions because we can
quantify costs and values for business,” says Abbott. ”IT has to become
a business partner… Ultimately it gives us better job security. IT is
one of those things companies like to outsource. If IT becomes a business
partner and an enabler of growth, it becomes a core competency that is
very hard to outsource.”
But he adds that if IT isn’t already at the table, it’s a bad sign.
”If IT is still trying to get to the table, they’re on a very slippery
slope to extinction,” Abbott explains. ”Functions and tasks that are
not seen as value-add or core competencies are candidates for
outsourcing. If it’s the same-old, same-old, it’s a candidate for
Steve Wrenn, of Liberty Mutual, says it’s key for IT professionals to
make themselves part of the business team. It’s no longer enough to keep
the trains running, technology wise. The technology often can be run from
… well, as far away as India.
But to have a relationship with business executives, to be on ‘the
business team’ — that’s a job that would be much harder to be done from
”The back piece of IT can be done anywhere,” says Wrenn. The service
delivery piece is there to make sure the internal infrastructure is
delivering… If you are perceived as adding something extra, you don’t
have to worry so much about being outsourced.”
Once IT is aligned with business and working together to solve customer
needs, conversations about outsourcing IT often are put on the back
burner. But that’s not always the case, Bramhall warns. The financial
American workers earn is sometimes too great to pass up — no matter how
aligned IT and business have become.
But that alignment gives IT workers that much more job security.
”I don’t think you’ll ever get rid of outsourcing because there’s value
in it,” says Bramhall. ”I went in to one company two years ago to work
with IT and six months in, the CEO said he had been thinking of
outsourcing them, but changed his mind… It’s about making sure you’re
delivering what they want.”
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Leading digital analytics experts share their examples of how to effectively use data and analytics to generate actionable insights for your marketing strategy
The number of data sources that are available is growing every day. For some of us, this might be a good thing, but for many digital marketers it brings up a lot of challenges to deal with. With increased data, it can be easy to lose focus, become obsessed by ‘vanity metrics’, and fail to generate actionable insights for your business.
McKinsey notes that surges in data caused by rapid digital disruption have not ‘provided marketers with a substantially better understanding of their customers, because their companies’ outdated data modeling isn’t able to capture these shifts with the necessary granularity and speed’.
So, while the innovators are leading the way with actionable analytics feeding their data-driven marketing, others become stagnant. In today’s competitive marketing landscape, this means losing market share, and customers, to your competitors. You don’t want that, that’s why we’ve got 10 tactics to help get you back on track.Unlock actionable, practical strategy with the RACE Framework
That’s where our RACE Framework comes in. The RACE Framework empowers markers and managers to break down their customer journey across the 5-step RACE structure of plan – reach – act – convert – engage. Within each stage, we will guide you to set objectives, and measure the metrics and KPIs necessary to achieve your goals.
Need a winning marketing strategy?
Book your free 1-2-1 consultation to develop your new strategy with the RACE Framework
Book consultationReporting vs. analysis
The job of a digital marketer and analyst is not to come up with a lot of fancy-looking reports that contain tons of data. In my opinion, data is just input. The insights you provide should be your most important output.
~ W.E.B. Du Bois
You need to answer what the numbers mean to your business and what action should be taken to improve the most important metrics of the business.Turn data into actionable insights
I have worked with many companies that really got stuck here. Being able to collect the right data is one thing, but making it extremely useful requires a different skill- and mindset.
We’ve got marketing solutions to help you boost your use of data and analytics to inform your marketing strategy. Our marketing tools and templates are integrated across the RACE Framework, so you can apply a data-driven approach to planning, managing, and optimizing your customers’ journeys.
Find out more about how your company can benefit from Business Membership by booking on your free 1-2-1 marketing strategy consultation call. Our calls help you experience our bespoke services for businesses, kicking off by identifying opportunities for growth across your customer lifecycle using the RACE Framework.Need a winning marketing strategy?
Book your free 1-2-1 consultation to develop your new strategy with the RACE Framework
Book consultationExamples of actionable insights
Leading digital analytics experts share their examples of how to effectively use data and analytics to generate actionable insights for your marketing strategy1. Measure the right things
You can’t optimize what you don’t measure. There is not a one-size-fits-all solution. Every business is different and should be treated in a unique way.
Let’s assume you run an e-commerce site. In this case, here are some examples of what you probably want to know:
Which channels drive the most conversions?
What are your leaking buckets (places where people leave your website)?
Whether people use multiple devices before purchasing your products?
What are the look-to-buy ratios for your individual products and product categories?
What landing pages need to be improved and in which channel?2. Ask the right questions to stakeholders
Go the extra mile to answer all of your stakeholder’s questions. This means tapping into the stakeholderís aspirations and challenges by asking the right questions.
Examples of marketing insights that could add value for your stakeholders:
Outlining specific events and general trends to support your strategy
Critical environmental and competitor scanning, and market research
Commercial insights and ROI
You can easily waste hours of your time by getting lost in your data. And coming up with “insights” that are already known or not deemed important can be highly frustrating as well! By ascertaining your stakeholders’ expectations for actionable insights.
Need a winning marketing strategy?
Book your free 1-2-1 consultation to develop your new strategy with the RACE Framework
Book consultation3. Use segmentation to drive action
Go for segmentation if you want to take action on your data! By grouping visitors that have some attributes in common, you can start digging deeper. Choosing which segments to study depends on the business question you are trying to answer.
Identifying segments will greatly enhance your understanding of how your customers behave. You can use this information for setting up an optimization plan.
Digital analytics tools like Google Analytics come with a lot of built-in segments and provide you with all the freedom to customize them to your needs.4. Use clear visualizations to convey your message
The way in which you present your data will make a huge difference in the outcome. Do you remember these presentations that only include numbers and words? And this compared to clear visualizations that promote cognition instead of confusion.
It’s important to articulate a data story with as much what, how, and why behind it. This will turn your data into insights and profitable business decisions.5. Discover the context of your data set
Make sure to establish context for the data you are seeing. Examples of data contextualizing questions include:
What do these numbers mean?
Are they important?
Does it really affect the business?
And how is the data collected?
Data without context isn’t that meaningful and can actually lead to bad business decisions because of interpreting it in the wrong way!
Digital strategy success factors
Part of the Digital marketing strategy and planning Toolkit
Learn how to define a structure and scope for your omnichannel marketing strategy
Learn More6. Build a solid optimization plan
Use the “Define Measure Analyze Improve Control” process (DMAIC) to improve your business. It’s one of the Six Sigma concepts you can directly apply in your situation.
Embracing the notion of continuous improvement, we continually aim for the identification and implementation of best practices and work to move closer towards perfect solutions for inefficiencies and imperfect processes.
In short, it comes down to:
Define the problem or hypothesis, stakeholders and scope of analysis.
Measure relevant data and conduct basic analysis to spot anomalies.
Analyze correlations and patterns, put your statistics and visualization skills to work.
Improvement based on insights and showing several options to explore.
Control the change by deploying (A/B) tests and monitoring KPIs.7. Construct a great hypothesis
Formulating these statements isn’t always easy, but you will save a ton of time wandering through your data and coming up with interesting – but not actionable – findings.8. Integrate data sources
Structure a plan using Smart Insights’ RACE
Part of the Digital marketing strategy and planning Toolkit
Learn how to structure a comprehensive omnichannel marketing plan, using Smart Insights’ RACE
Learn More9. Break down organizational silos
A healthy organization is the foundation of everything. Communication instead of confrontation. Inspire, motivate and be curious about the data and the possibilities it has for your organization. Treat any obstacles first and improve the communication between the business and analytics leaders.10. Don’t forget to hire smart people
Tools can collect data, but people – who understand the business – build insights. Smart people are required to find useful data, translate it into data-driven stories of useful knowledge – the insights. It’s a team effort where combining internal business experts with external analysts might be your best bet.Strategize for actionable insights
Each of the tactics described above can help you fine-tune your action plan for turning data into actionable insights and profits for your business. You might want to pick a few tactics and first experiment with them. Find out what works best in your industry and situation and go from there.
Few people see it as such, but content curation is more of an art than a science. There is no set formula, and the better your brush strokes are, the more likely you are to succeed. This is one of the reasons why some people/brands have more engagement on their social media pages than others. They just seem to ‘get’ their audience, and their audience ‘gets’ them. The more planned your content curation efforts are, the more likely you will be to enjoy its benefits.Why Social Media Content Curation Matters
Curation helps you survive two social media perils — overcrowded social media feeds and the crime of sounding too self-obsessed. It also helps you build invaluable relationships while providing value to your audience.
Curated content can help you engage social media fans and newsletter subscribers by moving beyond your expertise and sharing with them insights and ideas from experts world over.
If you are convinced of the necessity of social media content curation, let us move forward to the things you need to consider when implementing it for your social media pages.1. You Need to Know Your Audience
Remember the two perils? Being self-obsessed is a huge no. Don’t simply curate ‘industry content that suits your brand.’ Also focus on exactly what your audience needs and wants at this instant. You will be surprised at how drastically that change in perception will affect your content choices.
Instead of resorting to lazy marketing (effortless content sharing), as Mark Schaefer calls it, you should make sure that your curated content also solves a real problem, and is interesting and timely.
The post in the image below is dated, and useless to your audience if you had shared it at the end of 2023, or now, in 2023. Avoid making such mistakes.
How do you know what your audience is interested in? Are you listening to them?
You are the best judge of the most relevant alert terms, so fine-tune them and make them more specific than the ones that I have suggested.2. Curation Isn’t a Substitute for Original Content
By no means should you flood your social media page with curated content. There has got to be a balance of both created and curated/shared/re-tweeted posts.
Even if I hadn’t shared this information with you, you would probably know that this is happening. All of us do it, which makes it hard for a reader to assess the credibility of information shared on social. This is why it is critical for brands to create original content with unique value that can solve real problems. People love brands that can help them overcome obstacles in areas that are important to them — like their career or their personal lives. Sharing content with real value is an important part of establishing authority on social media.
The same standards apply to curated content, which represents you on social media just as created content does. Even if the content you share isn’t yours, you can add value with your unique insight or a tip that the author may have forgotten to mention. Even if you have nothing to say, ensure that you add something in your voice, maybe recommending an article like Alison has done in the example below.
You could even add emojis that let you express your personality to let your audience know that it is you sharing that information.
You could use a social media manager app like DrumUp that lets you customize curated social shares with emojis or a news aggregation app like Newsify that lets you curate niche-specific news for your audience, to easily curate unique content.3. You Shouldn’t Lose Sight of Your Goals
It helps to have an intentional theme, one or two very clear messages that come across in everything that you curate (and create). Stay true to your central themes.
The brand Girls Who Code, for instance, clearly stands for gender equality and empowering women in the tech world. That message comes across very clean. They curate a lot of content synonymous with that message.4. You Need to Have a Systematic Process for Content Curation
You can’t manually sift through content in your niche, the research could take hours. Plus, doing it without a set process would be hard if you had to do it everyday, or on a regular basis. Keeping on top of current events would become a real task.
Create your process. Identify top blogs, influencers, and new agencies to follow. You could streamline the process further by monitoring RSS feeds of every site on your list on a curation software.
Read as much as possible of what you intend to post on your social pages because it will represent your brand. Get your content marketing team involved. Ensure that everything that goes out is screened for relevance, value to your audience, and how it aligns with your central theme.
Place curated content alongside your created content on a content calendar. That way, you can enjoy an overview of your curated/created content distribution ratio and track if you have focused on central theme enough.5. Curating Partner/Stakeholder Content Can Help You Increase Reach
As a business, you may have built strategic ties with people/companies in your industry. You can reinforce those ties by sharing content created by them. This works on the same principle as influencer marketing. You feature your partners and their content, and they, in turn, help you promote your content.
Co-marketing is an interesting way to expand your audience and reach more people. This works especially well when you partner with a company that has the same target audience as you do.
You begin by finding those companies and making contact. Alternatively, you can catch their attention by sharing their content before you begin conversing with them. Knowing what you can do for them may make them warmer towards your co-marketing proposal.To Sum It up in a Tips List
Don’t forget to add the element of ‘you’ to every post.
Credit your sources, it is the right thing to do and they’ll appreciate it.
Remember that curation applies to all content formats, visual content included.
Don’t resort to lazy marketing, make sure that every post adds value.
Stick to your central theme and message.
Leverage social media management tools to simplify the process.
Make sure to build relationships along the way, they are important.
That’s a wrap. Which of these do you struggle with the most? We could explore that a bit more on social media. Also, if you have some information that belongs on this post, feel free to share it.
Work with your natural hair texture. For example, if you have waves or curls, invest in a curl-defining mousse or cream to keep them pretty and to prevent frizz. Or if your hair is naturally straight, use a straightener in the morning and a shine spray to keep it from becoming limp and lifeless.
Dress in flattering and gorgeous clothes. You should always wear clothes that fit you. Not too big, not too small, not too long, and not too short. If you have a slim figure, wear jeans or even if you have a curvy figure wear long skirts. And always make sure that your clothes are clean.
Try going for silver or gold jewelry. Try rings, necklaces, bracelets, (etc.) to bring the best out in you. But don’t try to put on too much or it will look tacky.
Shine your skin. The first thing people look at is your face, which means you should have great skin. Buy a body lotion for your arms and hands. Wash your face with a mild wash, tone it, and moisturize it. If you have acne try seeing a doctor if the results do not show within 3 months. Don’t forget to drink at least 8 glasses of water (64oz.) a day to help your skin glow and to get rid of toxins. Exfoliate at least twice a week.
Keep your nails pretty. Make sure that they are healthy. If not, people will be turned off easily. If you want to hide it then get them done at a salon. A nice French manicure or whatever helps you find your inner diva.
Stay healthy. Last but not least, you want to keep your insides as well as your outsides clean. Eat lots of fruits and veggies. Drink water very often too. And work out 3-5 times a week for 30-90 minutes. This is very important and the golden rule to looking great.
Use makeup if you’re allowed to wear some. Don’t be afraid to get bold with it! Go to the store and buy makeup items (such as mascara, foundation, lip liner, eyeliner, blush, etc.) that you are willing to wear. Each day, wear your makeup differently. For example, one day go for a natural look with lip gloss, and the next day some sparkly eyeshadow. Whatever you decide to do, keep it looking gorgeous.
Wear lip gloss. A true Diva always looks her best and this can be accomplished with a single item. Lip gloss instantly makes your whole face look wide awake and makes you look good without needing a lot of makeup. Carry lip gloss and apply it frequently during the day to maintain your great Diva style.
Bring your inner diva out of you. You gotta strut your stuff, learn to stand up for yourself and never let any haters bring you down.
Become a sassy version of yourself. You have to take some pride and show your personality. But remember to be polite to others. Don’t talk back to your teacher or parents. If you have sass, when you walk down the hall at school or someplace public, everyone should be looking at you.
Be proud of your type! Look up Angelina Jolie, Mariah Carey, Beyoncé, Denise Richards, Jennifer Lopez, Paris Hilton, Jessica Simpson, Christina Aguilera, and Ariana Grande. These divas are all talented, confident, gorgeous and beautiful, but they all look totally different from one another. They don’t have the same faces, bodies, skin, hair, or style. But they have no problem with it! So, do what you can to make yourself happier about yourself and your hidden talents. In the end, people will notice you for the gifts you bring to the world.
blog / Business Management With No ‘Plan’et B, Here’s Why Sustainability in Business is Important
Captain Planet, America’s environmentalist superhero from the early 90’s was way ahead of his time. The series focused on taking on the “eco-villains” wreaking havoc on the planet and sacrificing sustainability for profits. In the real world, the rate at which climate change is growing mirrors the fact that we haven’t been able to safeguard the planet. With no Captain Planet to save us and no ‘Plan’et B we can escape to, sustainability business has become the buzzword we should all care about.Quick fact check
Fact #1: Global temperatures are likely to rise 1.5 degrees Celsius within the next two decades (Source)
Fact #2: Just about 100 companies have been the source of more than 70% of the world’s greenhouse gas emissions since 1988 (Source)
This is the kind of powerful impact that industries and businesses are creating on the global environment.What is sustainability in business?
Ever heard of terms like blue economy, green financing, carbon neutrality and biomimicry? To put it simply, a sustainable business is one that owns up to its environmental and social responsibilities through its goals, operations, products and services. Sustainability revolves around three core principles, the 3 P’s – Profit, People, and the Planet.
A business’s sustainability is perceived by analysing how a given enterprise functions in the ecological, social and economic environment. The goal is to minimize the exhaustion of natural resources and preserve it for future generations. There are various means to go green. From minimizing waste, reducing pollution, transitioning to renewable energy to preserving water, using sustainable materials, and more.Why is sustainability important for businesses?
A great example of a business that has successfully implemented sustainable CSR strategies is Lego, a popular toy brand. Lego ranks at No.1 for CSR as a result of its conscious decision to make Legos from plant-based sources. The brand followed through its promise by manufacturing products from leaves and sugarcane. This Danish toy company aims to use sustainable materials for all of its main products and packaging by 2030. As a consequence, the brand’s reputation has risen steeply.Making the switch to a circular economy
Today global conversations revolve around the phrase: Reduce, Reuse, Recycle. This is the core principle used to create a circular economy which in turn is a key CSR strategy for sustainable development. Unlike the standard linear economy that involves using raw materials, creating products and throwing the resulting waste; a circular economy seeks to reuse that waste. By promoting the use of renewable raw materials and reusing resources, businesses generate a much lower volume of waste. This in turn helps to lower negative effects of climate change, carbonization and much more. A circular economy provides innovative ways to create a more sustainable economic growth model across the globe.
Watch and learn how a circular economy contributes to sustainability
Keeping in line with changing trends, Emeritus has collaborated with Cambridge Judge Business School Executive Education to offer a dynamic programme that’s designed to help you develop the vocabulary and vision on how to build a business culture of sustainability, fundamentals of a circular economy and lots more.How to develop a sustainable mindset
While there is no single way to implement sustainability, corporations can design innovative strategies through creative business planning. The versatility of going green means that industries or enterprises can choose from different means to create sustainable solutions in four distinct areas: human, social, economic and environmental. A great way to start is to provide appropriate labelled recycling bins at workplaces and adopt compost programs.
Switching to green travel policies is another great choice. It would mean encouraging employees to choose eco-friendly options of travel such as public transport, carpooling and choosing electric bikes or scooters. Green commuting can help to cut down on daily emissions and contribute to sustainability. Remote work options and video conferencing are some other alternatives. Transitioning to digital by switching to computers, smartphones, and other devices instead of paper is another excellent way to inculcate a sustainable culture or work.Sustainable businesses that inspire us by going ‘green’
: Decarbonizing for a green future
In an attempt to decarbonize their operations and value chains, Occidental Petroleum, one of the largest international oil companies in the United States partnered with Canadian start-up Carbon Engineering to build a plant that will capture and bury 500,000 metric tons of CO₂ each year.
Energizing the future with solar power
In 2023, CEO Rose Marcario of Patagonia; a sustainable sports clothing brand announced that they would be completely CO2 neutral by 2025. By harnessing the power of solar energy, the brand plans to develop a fully sustainable production cycle. Additionally, they would comply with strict standards in production and raw materials.
Beating the heat
Winner of the Sustainable Brand Index 2023, Dutch company, Tony’s Chocolonely focuses on making the cocoa industry fair trade and free from slave work. They do not use palm oil in production and are implementing various strategies to offset and minimize climate change emissions. Moreover, to create a positive social impact, they are collaborating with Justdiggit, a non-profit organisation, to measure their climate impact and stay accountable.
Minimizing the Carbon Footprint
One of the largest renewable energy developers, it is one of the world’s most sustainable energy firms. The company has set a target to achieve carbon neutrality by 2025. Having moved from using fossil fuels to renewable energy for their operations, this company sets an example on how enterprises can adapt a sustainable model.
Transforming Fashion by Going Green
Luxury and sustainability are the same to Kering, parent corporation for luxury brands such as Gucci, Saint Laurent, Bottega Veneta, Ulysse Nardin, and Pomellato. The company has centralized all its operations around its social and environmental strategies. Moreover, Kering has developed an innovative tool for measuring and quantifying the environmental impact of its activities.How can senior managers and C-suite professionals help make an impact?
One of the main success factors for sustainable development of a company is the initiative and vision of its top management. That is to say, experienced leadership can go far in nudging their businesses into a greener model. There are plenty of examples of how businesses have become profitable while meeting sustainability goals.
They are integrating sustainability in core strategies and setting corporate performance measures. The 2023 Report of the Global Commission on the Economy and Climate concluded that by the year 2030 — 12 years hence — the amount of money humanity could save through a global shift to sustainable development is $26 trillion.How can Emeritus help?
Gauging the growing demand for such experienced and skilled leaders, Emeritus offers Imperial Sustainability Leadership, a well-structured online certificate programme that’s designed to help you evolve as a business leader to meet the needs of a rapidly evolving sustainable future. Explore the environmental and social impacts of business and the role of technology in supporting sustainable business model innovations. Speak to us to learn more!
By Preethi Jathanna
blog / Business Analytics Business Intelligence vs. Business Analytics: How to Distinguish Easily
In recent times, data has grown from simply providing information to driving change and influencing the core operations of companies. More and more businesses now seek data-driven solutions to solve everyday problems as well as thrive in a volatile market. In the world of data, we’ve also seen the emergence of two buzzwords: business analytics and business intelligence. While both have their salient features, the debate of business intelligence vs business analytics seems to be an ongoing discussion. So let’s dive into the fundamentals of both and understand what makes them so indispensable to organizations today.What is Business Analytics?
Amidst a changing business landscape, the meteoric growth of Artificial Intelligence and machine learning has led to enormous investments in big data. As noted by IDC analysts, in 2023 alone, businesses spent $215 billion on business analytics and big data. However, if the data is not adequately scaled to derive value, such investments will have no returns. This is where we need business analytics.
Closely associated with business intelligence and big data analytics, business analytics comprises a set of automated data analysis practices and tools that shed light on the operational processes of a business. In doing so, it helps professionals make informed decisions that have the potential to mitigate risks and optimize for the future. The result is a definitive data culture — one that recognizes the benefits, and practices, and encourages the use of data.
Continue Reading: What is Business Analytics?What is Business Intelligence?
Information and decision-making share a symbiotic relationship; this holds true for the domain of business as well. Business intelligence, put simply, has to do with the information. It is a technical infrastructure that leverages software to collect, store, and analyze data. Following that, it presents the data in accessible and user-friendly formats, such as dashboards, reports, charts, and graphs.
The USP of business intelligence is that it gives users access to various types of data — semi-structured and unstructured, historical and contemporary, and third-party or in-house. Transforming data into actionable insights on company performance significantly boosts its strategy and tactical decisions. Over time, business intelligence tools have become more user-friendly and intuitive, thus allowing individuals across industries to tap into their potential. In addition to smart decision-making, the tools are also crucial to spot key market trends, identify problem areas, and spotlight new business opportunities.Business Intelligence vs Business Analytics: Key Differences
Variances in business intelligence and business analytics reflect the trends in job growth, business language, organizational goals, and the size and age of an organization. Business leaders must consider these differences while investing or taking any significant decision that impacts revenue. The primary differences can be broadly categorized as:Job Trends and Language
Despite the overlap in their use, business analytics is a newer term than business intelligence. It also covers more ground than the latter than merely referring to a description of predictive and statistical tools. The increasing growth of analytics also indicates higher employment rates in the field as compared to business intelligence.Size and Age of Organization
The size of an organization is a determining factor in its use of business analytical tools or business intelligence. The latter is a good fit for enterprises of all proportions, even smaller companies that want to incorporate data into their present operations as well as predictive plans. Furthermore, newer companies tend to prefer analytics to business intelligence. This is especially true for startups more than established brands that are more interested in employee performance or organizational processes. However, at the end of the day, a combination of the two is the best way to go and is greatly preferred.Focus on the Present Vs. the Future
One of the key distinctions between the two is their temporal approaches. Business intelligence relies more on historical data to determine how a company should function in the present day. On the other hand, business analytics concerns itself with future predictions and planning. Established businesses that want to identify pain points and improve efficiency often opt for the former. But for those looking for a change in their business model, analytics may be more useful.
The bottom line, however, is that all businesses have both a present and a future focus. The best case scenario, therefore, would be to combine the two into an approach that optimizes existing strategies and also reserves space for innovation.How to Improve Your Business Intelligence Skills
Proficiency in business intelligence demands, like all fields, a blend of hard and soft skills. Improving one’s competencies is no easy task. But with the emergence of numerous resources, such as online courses, bootcamps, books, and virtual seminars, we can now sharpen our skills in a way that is flexible and affordable. However, it’s important to remember the core skills that comprise business intelligence.Data Analysis Report Generation
The chances of getting hired are far higher for the one who can take raw data and interpret it to draft comprehensive reports to boost company performance. This is useful for clients and stakeholders alike as, essentially, it works as a means of communicating information clearly and fluently.Practice Using Data Dashboards
As the primary information management tool in business intelligence, data dashboards monitor, evaluate, and reveal Key Performance Indicators (KPIs), important metrics, and particular data points. As a business intelligence professional, not only is it crucial to know the ins and outs of how dashboards function but you must also know the differences between various dashboards to select the right one for a specific data-related job.How to Improve Your Business Analytics Skills
As curiosity-driven as business analytics professionals are, certain technical skills go a long way in a tech-driven world. Such skills include:
Competence in data collection
Statistical analytical skills
Proficiency in data visualization
Improving business analytics skills means embracing digitization that drives innovation and large-scale change within organizations. While a thorough grasp of the fundamentals is essential, it is vital to know how a digital strategy, coupled with technical know-how, can transform the larger mechanism and supply chain ecosystem.
The growth of business analytics over the last decade has led several resources to emerge. In addition to books, seminars, and boot camps, online courses have gained immense traction as they are flexible and affordable. They often offer certification from some of the most renowned institutions in the world.
We have witnessed revolutionary changes in the space of business due to digital transformation, and the impact of data is hard to ignore. It has made information accessible and actionable in real-time and has been a crucial driver of growth. In the face of unprecedented change, political crises, environmental disasters, and a volatile market, both business analytics and business intelligence are critical to saving businesses and, in turn, human lives. Changing the world was never easy. But the two fields, hand in hand, hold the immense promise of a brighter future.
By Deyasini Chatterjee
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