Tuesday, January 29, 2008

WSJ Article

While exploring the business and technology blogs on wsj.com an interesting CIO magazine article was found that cites one of the main things CIO's need to pay attention to is

" Find ways to integrate Web 2.0 information into BI. Web 2.0 data sources and other unstructured data do not obviate the need for traditional structured data, says Hatch, but they can be used to boost BI efforts. Amassing large sets of historical data reveals trends, performance metrics and specific business calculations: These are the foundation of most BI efforts. But the ability to enhance that historical data with relevant and timely information found in blogs, comments and competitors' websites is becoming more important for delivering actionable information throughout the enterprise."-CIO Magazine (http://www.cio.com/article/170201/Four_Tips_for_Better_Business_Intelligence_in_)

The WSJ article expands on this citing

"he Business Technology Blog agrees with this approach, but we think some fundamental steps also need to be taken within an organization well before the launch of such “intelligent” tools. For one, companies need to make sure that a commitment to business intelligence is adopted from the top down, starting with the CEO. Tom Davenport, a professor at Babson College and an expert in business analytics and intelligence, notes that the CEOs most successful with business intelligence–including Amazon.com’s Jeff Bezos and Harrah Entertainment’s Gary Loveman–are mathematically oriented. (Loveman has a Ph.D. in economics from the Massachusetts Institute of Technology.)

Once a committed CEO is in place, he or she can establish a tone within the company that encourages people to back up their assertions with data. Companies can also establish a formal education program to teach employees about the benefits of using business intelligence and its impact on the business. That CEO can also cite a competitor who is using data to its advantages. Nothing is more motivating than a rival’s success." -WSJ.COM (http://blogs.wsj.com/biztech/2008/01/10/intelligence-in-business-isnt-easy/)

Interesting points. It seems that these initiatives need to be started from the top down when really it is the bottom or "grassroots" so to speak portions of the companies that make the tools useful. From my research thus far, it seems the top levels (exec) of these companies have been slow adapters to the new technologies as employees began blogging etc. on their own long before company sponsored blogs appeared.

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