jump to navigation

Building Blocks of Business Intelligence January 7, 2010

Posted by sabhijeets in Management Consulting & Business Analytics.
Tags: , , , , , , , , , ,
add a comment
==================================================================================
This article will help you understand “how information transforms into intelligence” and then “how this intelligence can be used to take critical business decisions”.  Further this article will enlist a step by step approach in explaining data collection & utilization for building intelligence.
==================================================================================
Where to source Primary data and Secondary data for building market intelligence?
==================================================================================
Critical business decisions are being made every single day by companies without a Market Research. The volume in terms of percentage of the business decisions made by formal market research is very small as compared to decisions made without market research.  One of the major contributing factors is that market research comes at a price and investment in it is not considered to be necessary.
—————————————————————————————————————————————————
Business decision makers can count on the 4 sources of intelligence termed as I2E2 that will fuel their decision making ability.
—————————————————————————————————————————————————
We also call them the “Basic Building Blocks of Intelligence”
1. Internal Fact
2. Internal Opinion
3. External Fact
4. External Opinion
—————————————————————————————————————————————————
1. INTERNAL FACT
Prior to deciding on spending time and money on market research, it’s extremely important to scrutinize the quality of information that is available within the organization, such as
Factual Data – Like Sales Figures, Trends of sales overtime, prospective Customer lists, enquires, sources of enquires, complaints and their resolution details.
—————————————————————————————————————————————————
2. INTERNAL OPINION
This data comes from what employees foresee based on their perception and views. Here the data extraction should start with priority and important data feeds from
a.Views and Opinions of the Sales Force
b.Views of production, quality, and customer service departments.
If such scrutinized data from internal facts and Internal Opinion is considered to be reliable, then there is no need to look externally for data. This data would become the business intelligence and would help management to drive business decisions.
—————————————————————————————————————————————————
3. EXTERNAL FACT

The need of sourcing data from external sources arises as internal sources could be considered being biased and full of uncertainty. Hence arises the need for formal research. This could be viewed as Factual Data or Opinions.
Factual Data: Official Statistics on Markets, Demographic information, Competitor reports
—————————————————————————————————————————————————
4. EXTERNAL OPINION

Organizations with sufficient data, but lack of intelligence extraction ability from the available data, rely on external opinion from Specialized Consulting firms or Individual Consultants to find a solution to their business questions.
These external sources have a diverse and wide expertise to analyze volumes of data and find out the most relevant intelligence required to take critical business decisions.
—————————————————————————————————————————————————
However Market Researchers view these building blocks in Secondary and Primary data approach.

a. SECONDARY DATA :
The information which has already been published or has been compiled for some other purpose is termed as secondary data.
Some also call it ‘Second Hand’ data, but this tag is unfair as such data can be extremely useful and may have passed public scrutiny test if in public domain. This means that such data is validated or has been “checked for”. Also it is available immediately without wait at low or no cost.
Some of the examples of Secondary data are
- Market Research Reports which are Published
- Directory listing of companies and data on them
- Publications, Articles or Postings on the internet or in libraries
- Sales data like sales trends overtime
- Internal Company Data – Includes sales data, customer complaints, enquires
- Expert Opinion from Trade association, industry bodies, news channels, consulting firms, government bodies.
—————————————————————————————————————————————————
b. PRIMARY DATA:
- Primary Data is collected solely for the purpose of the survey.
- To source primary data, respondents are directly questioned or their behavior is observed in some way. This would form a base for good decision making as questions and sampling are specifically chosen to meet the objectives of the survey
- But Primary data often comes with a high Price tag as compared to secondary data and requires few weeks or sometimes months to collect
- Survey Agencies, Market research bodies act as a source for companies seeking survey based customer specific data.
—————————————————————————————————————————————————
The decision to choose primary data or secondary data to build business intelligence is based on the following three important questions
Question 1:  What accuracy and depth of information is required? (Good Estimates will be sufficient)
Question 2:  How quickly is the intelligence required? (It may be a case that decision has to be made immediately and there won’t be enough time to gather)
Question 3:  What are the financial implication of the decision that is under consideration? (When the Financial budget is small, it is not advisable to choose a expensive external survey)
==================================================================================
Thanks & Regards,
Abhijeet Singh
Management Consultant – Edgesys Inc
==================================================================================

BTAG May 12, 2008

Posted by Lbircha in BTAG, Clients.
Tags: ,
add a comment

BTAG Valhalla, NY

The Business Technology Alignment Group (BTAG) is an enterprise consulting organization focusing on the alignment of Information Technology resources in support of specific tactical operating objectives and strategic business directions. BTAG provides assistance in six discrete areas: Personal Advisory Services, Financial Analysis and Tax Services, Customer Centric Services, IT Management Consulting Services, IT Partnership Services and Marketing and Business Development Services.

Edgesys services to BTAG includes:

  • Software consulting services on Time and Material for development on AS/400 applications and system support
  • JD Edward – Webmethod integration
  • JD Edward – CNC administration
  • Oracle HRMS payroll functional
  • Development on JD Edward One world/ XPI for financial modules

Contact reference information can be provided upon request

System Fusion May 12, 2008

Posted by Lbircha in Clients, System Fusion.
Tags:
add a comment

System Fusion Montclair, NJ

System Fusion LLC is a software development firm specializing in providing solutions for the insurance industry. Our products and solutions are currently being utilized by major insurance carriers across many platforms.

System Fusion, for its clients, is successfully extending the life of their legacy systems by adding options such as Automated Agency Interfaces, State Reporting, Data Warehousing and Actuarial Reporting System.

System Fusion also assists its clients with integration of Billing, Claims, Financial and Reinsurance Systems with their core insurance processing systems.

Edgesys services to System Fusion includes:

  • Software consulting services on Time and Material for development on AS/400 applications and system support
  • Development of Actuarial Systems

Contact reference information can be provided upon request

Canberra May 12, 2008

Posted by Lbircha in Canberra, Clients.
Tags: ,
add a comment

Canberra

Canberra is part of the newly formed $9 Billion AREVA Group – an organization formed from two of the leading companies in the nuclear field – COGEMA, Inc. and Framatome ANP. AREVA is deeply focused on all aspects of the nuclear power generation and nuclear fuel cycle fields. Now, as part of AREVA, Canberra has been expanded and embodies a full range of nuclear measurement applications, systems and consulting services.

Edgesys services to Areva includes:

  • In contention to market Edgesys solutions to Areva. The services include:
  • Analytical study of existing SMS System
  • High Level recommendation of new Sales system
  • Develop Implementation and development procedures

Address : AREVA T&D
1318 Madison Avenue, suite 4
New York, NY 10128

Website: www.areva-td.com

Stroehmann Bakeries May 12, 2008

Posted by Lbircha in Clients, Stroehmann Bakeries.
Tags: ,
add a comment

Stroehmann Bakeries Norristown, PA

Stroehmann Bakeries has enjoyed continued growth and geographic expansion since its first bakery opened its doors in Williamsport Pennsylvania in 1924. It now operates nine production facilities in the Pennsylvania and New York areas. Stroehmann Bakeries has a strong presence and long history in greater Philadelphia in particular, where Stroehmann is credited with having first introduced sliced white bread.

“Grampa Stroehmann”, named for the founders’ father who taught them the art of baking, is part of the company’s on going tradition. He appears on all packages of Stroehmann White bread and rolls, and has been an animated feature character and the company’s advertising spokesman for over 30 years.

Edgesys services to Stroehmann Bakeries includes:

  • Software consulting services on Time and Material
  • Peoplesoft Implementation and upgradation
  • Production Support
  • Develop systems for Data Conversion
  • Develop Reporting modules

Contact reference information can be provided upon request

Avon Cosmetics May 12, 2008

Posted by Lbircha in Avon Cosmetics, Clients.
Tags: ,
add a comment

Avon Cosmetics Ny, New York

Avon‘s 2002 Annual Report and Investor Fact Sheet both supply detailed facts and figures about our expanding business. We are the world’s largest direct seller and sixth largest global beauty company. Our financial strengths are consistent sales and earnings growth, strong cash flow, a high credit rating and unusually broad geographic diversity. Avon’s strong management team oversees business operations in 58 markets. Last year, through its unique network of approximately 4.4 million independent Representatives, Avon handled over a billion customer transactions.

Edgesys services to Avon includes:

  • Software consulting services on Time and Material
  • Implementing and supporting CODA Financials at various Avon locations
  • Customizing CODA Financial package for AVON

Contact reference information can be provided upon request

Hilton Hotels May 12, 2008

Posted by Lbircha in Hilton Hotels.
Tags:
add a comment

Hilton Hotels Memphis, TN

Hilton Hotels Corporation is recognized around the world as a preeminent lodging hospitality company, offering guests and customers the finest accommodations, services, amenities and value for business or leisure. While the Hilton brand has, for more than 80 years, been synonymous with excellence in the hospitality industry, our acquisition in 1999 of Promus Hotel Corporation expanded our family of brands to include such well-known and highly respected brand names as Hampton Inn®, Doubletree®, Embassy Suites Hotels®, and Homewood Suites by Hilton®. Through ownership of some of the most recognized hotels in the world and our newly enhanced brand portfolio, Hilton is now able to offer guests the widest possible variety of hotel experiences, including four-star city center hotels, convention properties, all-suite hotels, extended stay, mid-priced focused service, destination resorts, vacation ownership, airport hotels and conference centers.

Edgesys services to Hilton Hotels Corporation includes:

  • Software consulting services on Time and Material for development on Client / Server applications and system support.
  • Enhance and maintain hotel reservation system.

Contact reference information can be provided upon request

Reliance Insurance May 12, 2008

Posted by Lbircha in Clients, Reliance Insurance, Uncategorized.
Tags:
add a comment

Reliance Insurance

In June 2000, Reliance Insurance Company stopped writing virtually all new and renewal property and casualty business. On May 29, 2001, Reliance consented to the entry of an Order of Rehabilitation by the Commonwealth Court of Pennsylvania. On October 3, 2001, the Commonwealth Court of Pennsylvania ordered Reliance Insurance Company into Liquidation. Commissioner Diane Koken’s written statement, the court order and other documents regarding Reliance are available on the Insurance Department’s website at www.insurance.state.pa.us. Information about the liquidation process can also be found on the Department’s web site. Reliance in Liquidation began mailing proof of claim packets on Friday, January 11, 2002. for inquiries regarding the proof of claim process, visit the Insurance Department’s website at www.insurance.state.pa.us.

Edgesys services to Reliance Insurance includes:

  • Software consulting services on Time and Material for development and maintenance on AS/400 WINS application
  • Data Migration from BristolWest POINT system into WINS system
  • Data Migration from Cybercomp POINT system into WINS System
  • Ad-hoc reporting

Contact reference information can be provided upon request

Footstar May 12, 2008

Posted by Lbircha in Clients, Footstar.
Tags: , ,
add a comment

Footstar, Inc. is a leading footwear retailer competing in the discount/family footwear sector.

The Company offers a broad assortment of discount and family footwear through licensed footwear departments operated by Meldisco.

As of January 1, 2005, Footstar operated 2,340 Meldisco licensed footwear departments in Kmart and Rite Aid stores. The Company also distributes on a wholesale basis its own Thom McAn brand of quality leather footwear to Wal-Mart and Shoe Zone stores.

Edgesys services to Footstar includes:

  • Software consulting services on Time and Material for development on AS/400 development and maintenance systems
  • Data Migration and interfaces

Address : Footstar Corporate Headquarters
933 MacArthur Blvd.
Mahwah, NJ 07430

Website: www.footstar.com

Verizon May 12, 2008

Posted by Lbircha in Clients, Verizon.
Tags: , ,
add a comment

Verizon

A Fortune 10 company, Verizon Communications (NYSE:VZ) is one of the world’s leading providers of communications services, with approximately $68 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon’s international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe.

Edgesys + Wirenix services to Verizon includes:

  • Software consulting services on Time and Material for development on .Net Framework conversion
  • Data Migration
  • Application development using Microsoft product

Contact reference information can be provided upon request

Follow

Get every new post delivered to your Inbox.