As most industries increasingly embrace service-based thinking, Industry 4.0 and big data, make sure you’re not left dazed and confused while your competitors take the initiative.
Though often cited by academic authors, pub enthusiasts and everyone in-between, statistics don’t always tell the whole story.
Consider Chelsea Football Club’s less than stellar performance at the 2012 Champions League Final in Munich.
Depending on who you speak to or where you look, Chelsea’s opponents – Germany’s Bayern Munich – had anywhere between 34 and 40 attempts on Chelsea’s goal, upwards of 70% ball possession and an impressive 20 corner kicks to Chelsea’s one.
Yet who lifted the trophy once the referee blew the final whistle? Chelsea.
Business Intelligence (BI) doesn’t look to follow the statistical denial that Chelsea’s players employed as a way of getting results.
In 2012, the BI market was worth $13.3 bn. By 2018, that figure’s predicted to reach almost $21 bn.
In the Asia-Pacific region, there has been a 7.4% growth in the BI market. As the ‘Tiger’ economies of the East continue to swiftly develop, BI has proven to be key to harnessing that potential.
It’s often said that BI is becoming a vital part to the structure of any growing organisation, but what is BI?
Previously, charts and graphs were commonly used to track successes and failures.
Business Intelligence is a tool increasingly deployed to interpret data in order to attain and then retain a competitive advantage.
In this way, BI is pivotal to following current trends, and predicting those of the future.
BI is heavily intertwined across various aspects of the manufacturing industry with the likes of manufacturing services (servitization), predicative analytics and big data.
To help manufacturers better leverage the opportunities Business Intelligence offers, Hennik Research in partnership with The Manufacturer is holding its first Connect BI event at the Rolls Royce site in Derby on December 4.
Connect BI blends together a unique combination of keynote speakers from leading companies; in-depth case studies; workshops; break-out sessions, and peer-to-peer networking.
A variety of leading BI vendors will be on hand throughout the day to help discuss the intricacies of their solutions, and will be available for a personal meeting to talk about BI and your firm.