In today’s business world, two crucial concepts are emerging as key pillars for success: Business Intelligence (BI) and Management Intelligence (MI). But what do these terms really mean and why should they be at the heart of your business strategy? During the second event of the “Basta un Click” project, created by Confartigianato Imprese Padova with the contribution of Ebav, we explored these fundamental themes.
Big Data vs Smart Data: an important distinction
One of the first distinctions addressed was that between Big Data and Smart Data. It is essential to understand this difference: while Big Data represents a vast ocean of information, Smart Data is the waves emerging from this sea, relevant and useful information that can guide intelligent decisions. Furthermore, the intrinsic value of data and the importance of knowing how to effectively exploit it to make strategic decisions was highlighted.
Another crucial aspect addressed during the meeting was the identification of Key Performance Indicators (KPIs). These indicators are the compasses that guide the company’s journey to success. Understanding which KPIs are crucial for evaluating the company’s progress and success is essential for guiding future strategies and optimizing performance.
Trade Tools: Advantages and Disadvantages
Finally, we explored the vast landscape of tools available in the industry. From specialized software to consulting services, there are multiple options for implementing BI and MI solutions. However, it is important to be aware of the advantages and disadvantages of each of them. Investing in building an effective Business Intelligence dashboard is crucial to remaining competitive in an increasingly complex and dynamic market. The ability to collect, analyze and interpret business data has become an essential skill for any entrepreneur aiming for long-term success. With an informed strategy and the right tools, you can turn data into competitive advantage and drive your business to new heights.
The event is organized as part of the EBAV project “Just a Click”
