Data-Driven Decision Making: Beyond Today’s BI

Corporate intelligence

Editor’s note: This is a guest post by Hjalmar Gislason, the founder and CEO of DataMarket. DataMarket‘s data hub helps enterprises understand their business environment, putting syndicated, proprietary and public data at professionals’ fingertips.

Business intelligence is too focused on internal data and doesn’t help decision-makers understand their external business environment.

When you’re driving a car, you spend most of the time looking out the windshield: What’s ahead? When to turn? Any unexpected obstacles in your way? Every now and then you glance at the dashboard. But that’s just to check how fast you’re going, whether you’ve got enough gas and that the engine isn’t running too hot.

Corporate intelligenceIn BI, it seems to be the other way around. BI traditionally focuses on data from internal systems, providing a view on internal operations and past performance. Data on the external business environment and the future belongs to the fragmented world of corporate, strategic or market intelligence with their proprietary databases, pivot tables, PDF reports and custom research delivered in static slide decks.

In other words, decision-makers in the enterprise spend a lot of their time looking at the dashboard — sometimes literally — but only have a blurry and fragmented view of their surroundings: the markets they operate in, the economies they belong to and the demographics they target.

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