Strategies are about developing creative ways to realize ambitious goals, while business intelligence forms the underlying foundation upon which realistic plans can be developed. The following are some experience based observations on how business intelligence should be applied in a company and some of the interactions with the planning process. Strategies and target markets should define the business intelligence requirements of a business unit. Intelligence activities need to be focused on an agreed upon set of business goals and targeted markets. This defines the scope of the business environment that needs to be understood.
Information today is like a vast ocean of water and nearly as cheap.
However, just as the ocean reflects the characteristics of chaos, so does limitless information. Like never before, business intelligence must help managers focus on what information is really significant and to place it in the context of business processes. Business intelligence is more critical than ever in identifying these changes and the opportunities that they create. The increased rate of change over the last 20 years is so pervasive that it has caused us to rethink the way we develop business strategies. In some cases, time compression has caused a blurring of strategies and tactics, thereby challenging the concept of an annual planning cycle.