What is Business Optimization, and why is it hard to accomplish?
Business Optimization is typically defined as finding efficiencies through systems, software and process.
How many times have you adopted a new piece of software or system only to find that it doesn't quite work the way you wanted?
Business Optimization is not just obtaining software or designing a system, it is having a strategic plan to use it effectively throughout your business. We look for silos and work to minimize them throughout our engagement with your business.
Our goal is to serve our clients as a trusted resource to help them achieve sustainable growth by defining & optimizing their internal processes, policies, defining requirements and assessing their human capital to help ensure such things as software and systems are leveraged to their potential.
The important part is to evaluate where you are in the lifecycle of a business to find the best way to optimize and achieve the next level.
Business Analytics vs. Business Intelligence
Business Analytics is the understanding of past technologies, proficiencies, and operational methods to drive insight for business planning. The methodology for Business Analytics is based primarily on the statistical analysis of structured data.
Business Intelligence encompasses data and information from an entire organization with the goal of obtaining enhanced insights for better decision making. Like Business Analytics, Business Intelligence analyzes structured and unstructured data using software and technology.
Both look at the past, present and future of an organization with focus on sustainability and growth.
The definitions sound similar, so what is the difference?
Intelligence is the capacity for learning, reasoning, and understanding facts, relationships, and meanings. Analytics is the analysis of data using mathematics, statistics, and software. Intelligence has an abstract component that analytics does not. This nuance is often overlooked.
By analyzing an organization with a more holistic approach considering intangibles such as learning, relationships, environment, and job satisfaction both the growth of the business and its employees are enhanced. Looking at unstructured information is another key component. Unstructured information and anomalies, if analyzed with a more comprehensive vision can create efficiencies or even be a new business opportunity.