The Danish philosopher, Søren Kierkegaard, is quoted as saying: “Life can only be understood backwards; but it must be lived forwards”.
In previous articles published in our Newsletter, we have alluded to the concept of viewing business from the perspective of different tenses: In summary, the past tells a story, the story shapes decisions, and decisions shape the future.
In our previous article on the topic of BI, we focussed mainly on a past tense perspective, elaborating on the tools available to help you better understand the story that your business might be relating through historical financial figures.
According to Søren Kierkegaard however, the past is only one half of the equation. We are therefore compelled to ask: where do we go from here?
We are very passionate about the potential of BI and data mining, because it provides us with the tools needed to identify trends and to relate stories. It provides us with a means to convert data into meaningful information, providing insight into whatever questions we are tasked to answer.
We see the power of BI every day, in terms of our internal business structures, but also in the reporting structures that we are able to provide to our clients.
Despite this, however, BI has a few major shortcomings. It can’t make decisions, it can’t change habits and, in itself, it can’t contribute towards the future success of your business. What it can do is to provide you with the tools necessary to make better decisions, to change negative habits and to contribute exponentially to the future value of your business.
We therefore urge you to seriously consider the capabilities that BI might provide you, but also to be open to change and proactive in the way in which you engage with your own future. Ultimately, we hope that your future success will not be held captive by your story, but rather liberated by it!