Top 5 Reasons – A Business Will Fail
Blog authors LOVE to use numbers. “10 ways to make more money”, “7 things you should know before launching a new product”. Sometimes these numbered lists are less than helpful. I’m going to give you a list of things that often result in business failure. It is far from a complete list, but maybe it will help you see Business Intelligence in a different light. Here is my list of the “Top 5 Reasons a Business will Fail”:-
1. Incomplete or incorrect information about competitive products, changes in the market, and customer needs
2. Decisions made without a thorough understanding of how they will affect the company
3. Old or incomplete information used for planning and strategy
4. Slow response to market and customers
5. Poor or incomplete team access to critical information for analysis and contribution to the bottom line
If this list describes your business issues, you need to make some changes. Business Intelligence tools enable performance management and objective measurement and analysis and produce clear, concise results using integrated data and information from disparate systems and sources. To be useful, Business Intelligence must be presented in a way that clearly illustrates patterns, trends and problems. User-friendly business intelligence tools provide personalized, custom metrics, so users can manage activities, tasks and goals with objective insight into Key Performance Indicators, so you can make faster, more accurate, course corrections and adapt to the changing market with ease.