Business intelligence has long been in use across various industries and sectors but has only recently seen the importance of its role changed and heightened as we move towards a data driven economic model. With a shift towards industry 4.0, a gradual move to servitization, big data and the rise of the internet of things (IoT); BI has become the new key to competitive success.
The challenge for UK businesses today, lies in the adoption of these digital principles to implement BI effectively. It is imperative that BI is utilised within all organisations throughout the country. With large resources at their disposal, OEM firms have long been able to stay a few steps ahead of the game. Now lies the issue of pushing UK SMEs to take on these technological tools.
The success of data driven decision-making is already in evidence globally. The United States, Germany and other leading world economies have been implementing these models for years. Equally, China, South Korea, Brazil and other developing countries are slowly beginning to pick up this trend as the benefits of BI becoming increasing apparent.
It is imperative that all British firms stay competitive in a globalised, intertwined market. For this to be achieved, business intelligence and data analytics will have to become a business critical function for greater success.
See the whole white paper here