A poll at a recent Wall Street Journal CIO Network conference found that 40 percent of attendees rank business intelligence (BI) and analytics as a top priority. Findings suggest that CIOs credit BI tools with providing the insight necessary to make critical business decisions because they provide a view into high volumes of data. For us data geeks findings like these mean the value of data intelligence is finally reaching the mainstream. You see, BI is a revelation on the business side. It lets companies sift through big data to glean insights into market dynamics and consumer behavior – two key drivers of product development and go-to-market strategy. But, IT strategy has different data needs that BI tools only partially fulfill.
CIOs require a different type of data intelligence tool that helps them make decisions about where to invest their resources – both human and capital. Unfortunately, a BI tool wasn’t purpose-built for that job. But, the right tools for the job do exist, and at Planview we call those enterprise intelligence tools.
You wouldn’t put gas in a car that runs on diesel, right?
Just because two things seem alike doesn’t mean they serve the same purpose. And, the same holds true for using BI tools to capture enterprise intelligence (EI).
CIOs and IT executives need their own set of fit-for-purpose tools to glean critical insight into the enterprise to really know where to invest.
Decision-making and strategic planning are typically challenging within the enterprise environment. There are lots of departments and functions that work in silos, and it is difficult to get a sense of the big picture. In today’s business environment it is important to recognize that strategic decisions can no longer made in silos or on a single view of the enterprise. Decisions must be made with an understanding of the “connected” enterprise. That’s the beauty of EI. Enterprise Intelligence gives CIOs and their decision-making counterparts a new level of transparency by establishing a line-of-sight that spans the entire enterprise.
EI enables executives to take the constructs of market analysis and BI and apply it to Business & Technology Strategy Planning. This is possible because EI is multi-dimensional and shows information in the context of the business, so you see the depth to your decision-making by understanding how Goals and Strategy, Business Capabilities, Investments, Applications, Technology, and Information etc. fit together and relate. Ultimately decision makers see the big picture instead of a single area of the business, which helps them understand the impact of every decision they make. EI gives business leaders the necessary context and insight to understand the cost and benefits of change against the entire business, not just at a group or departmental level. With this newfound clarity, decision makers have the ability to better understand and prioritize where they invest in the business and establish a plan to execute change that considers the business as a whole.
EI in Action: CHEP Case Study
WHO: CHEP, the leading provider of pallet, container, and crate pooling services for many of the world's largest supply chains.
THE CHALLENGE: Connect information stored across operations in more than 50 countries, covering more than 500,000 customer touchpoints.
CHEP needed a vendor to guide them through the process in order to access both big-picture views and the essential details needed to support business decision-making.
THE SOLUTION: Leveraging Troux’s enterprise intelligence tools helped CHEP understand and optimize its applications portfolio and technology architecture on a grand scale. A BI solution would have allowed them to look only at one area – either the application portfolio or technology architecture, without any insight into how the two relate to other parts of their business, such as business strategy and capabilities.
THE RESULTS: “Now we’re looking at strategic planning three to five years in advance, centering around our capabilities and our business goals,” said Christopher Esser, CHEP Senior Enterprise Architect. “We know what we have, and we are getting an idea of what we are missing. Now we need to look at where we’re going. Troux helps us do that.”
The CHEP example illustrates that CIOs, CEOs, CFOs, and COOs need a more robust IT solution for their data intelligence. BI is the right tool for many things, but for strategic IT decisions that drive enterprise cohesion and IT success; only enterprise intelligence will do.