Now a days too much hype is given Big data which is diverting attention of decision makers from current issues. Organisation’s resources produce wealth of data which if utilise in an automated and strategic manner, they will be in better position to make good decisions to save costs, increased profitability and ROI.
However reality is quite different, In my experience of last 15 years of consulting in this field, Management lacked the required information due to technical constraints, complexity in getting the right information, costly projects are required to get this information or simply time consuming because of manual processes and hence not worth doing these. It has resulted in disastrous outcomes of job losses, business loss.
I would like to give few scenario where I consulted organisations on automated and strategic business intelligence to overcome constraints;
1- One of our clients have the IT related service contract based. Based on nature of work in contracts Profitability was different. Management want the information to know how their employees are spending time more importantly they are not overworking on low value contracts, as well as they are properly rewarded if they save costs / increase profitability to the company, i.e. if the contract is of high vale and employee resolved issues in lesser time vrs of the contract is low vale and employee spent too much time. We developed Dashboard which provided information which shows the hourly return on contract vrs the hourly cost on contract. This also shed light if certain contract need re negations because of the complexity etc. All that was highly automated and needs not IT intervention as were hosted on website and management was able to access these whenever and wherever they need.
2- Organization want to know metrics on Physician capture rates on prescriptions based on inside and outside pharmacies, currently all the data was exported to excel and then through lengthy and costly process this information was produced, we automated these using Crystal Report which directly connect to data source and hence faster, automated and real-time information was produced, resulting in single version of truth.
3- One of our client in Disability Management Organization was facing huge costs with one of their client where the contract was divided into several phases and certain portion of the contract was the responsibility of Insurance Company. We developed an automated drill down dashboard which provide the management insight how there employees are working and under what phase their time is consumed most on the contract, how much of their time was spent on portion of the contract which was insurance company’s responsibility. This result in huge cost saving and recovery of huge revenue from insurance company.
Main objective of this article is to highlight importance of Strategic and automated business intelligence.