Business Intelligence programs bring Innovation in Customer Experience

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healthwareinternational.com ■

Business Intelligence programs bring

Innovation in Customer Experience

Bianca Barone | Independent professional

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₂ From the 2th_{to 4}th_{of June this year, the}_{Global Intelligence Alliance Conference}_{was held in}

Helsinki. A community of about 140 business and marketing intelligence leaders in different industries (chemical industry, biotechnology, pharmaceutical, telecommunications, logistics) were present. There were discussions on how to drive the processes of Intelligence in the 3.0 era to "Get Ready For The Future".

Despite the different points of observational data from the peculiarities of the market from which the participants came, all the experts were aligned in terms of focusing on an increasingly strategic role in the business intelligence function within their organizations.

The agency was represented by Bianca Barone to contribute in the discussion of the importance of intelligence processes of the insights generated by the

dynamics of collective intelligence in social media and the role that peer networking professionals (e.g. healthcare professionals) play in increasing the value of the brands.

In agreement with the view taken by the Global Intelligence Alliance Network, "The challenge is

integrated Marketing Intelligence (MI) and Business Intelligence (BI)”, utilizing both MI and BI can provide very powerful insights - but the challenge is that they often come in different formats and structures. This affects how the available data is accessed, combined, analyzed and used. Business Intelligence mainly comprises numerical figures in dedicated internal data

warehouses, which makes it easy to store, retrieve and analyze. It often comes in well-structured, standardized and readable formats. Market Intelligence is much more complex, comprising both quantitative and qualitative data (verbatim) in separate

Market Intelligence in the

Biotechnology & Pharmaceuticals

industry (GIA Survey 2013)

 78% of the companies in the health field have a formal MI program in place

 61% of the company has a centralized process in place. 21% decentralized and 18% outsource MI deliverables

 88% of companies think their MI investments have paid-off

 Excluding HR costs, the budget figure is above USD 11 million/year, which is among the highest of all industries

 Including HR costs, the budget figure is above USD 11 million/year, which is among the highest of all industries

 56% of companies expect to increase their investments in MI

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storage systems. With the advent of social media, we can collect MI in the form of pictures, movies, gestures, emotions and so on. This requires completely different ways to collect and analyze data. (Read more)

Intelligence programs help organizations monitor, identify trends, understand and predict changes in their business environment, compete successfully in it, and grow as a result. To collect

information about market players and strategically relevant topics and process it into insights that support decision-making is only one-step of the intelligence pyramid.

Example:

A definition for Merck: the Global

Competitive Intelligence (GCI) department is the recognized center of Excellence that provides Merck access to information and generates actionable intelligence, insights and recommendations essential for decision-making, strategy, development and

execution.

Strategic & tactical decision

Experience

Knowledge

Information

Data gatering

TinaBundgaard Petersson, Rockwool

Option

Organize

Select Assess

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Sharing data, brands and company culture, peer networking, future trends analysis and design scenarios were the key words of the conference, which saw discussions in this strategic function, the active part of corporate decision making. Digitization has changed the way in to operate and move up the pyramid of intelligence, innovating the customer experience of products and competitive services along the way.

If the current estimate of the available data increases by the hour (at present it is estimated that if the data were stored in a stack of CDs, they would reach a distance of 80,000 km), cloud based systems provide access to them in always new interactive syntheses made available to a business user or consumer who expects to use them in a more effective manner thanks to forms of artificial intelligence and to their availability in social tools.

Today the AI assists human intelligence in the understanding of information and drives collective intelligence in decision making and in discovery of factors that human intelligence alone can no longer see.

In this race towards artificial intelligence, what is left at human?

In the era of cognitive systems, where calculators as Watson (IBM) are artificial intelligences subject to a constant and continual learning process, human intelligence had to increasingly distinguish itself for its unique ability to bring capacity to ask effective questions and transfer the value of consciousness inherent in products with high innovation, typical of the 3.0 era.

Three major shifts which are digitally transforming

the industries and Marketing Intelligence professions:

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₅ It is also human the ability to activate the collective intelligence now available in the dynamics of social communities and networking.

Our mind is neither designed to store information, nor it is agile enough to remember with accuracy because of its perceptual bias, but it has a unique ability to combine intuition and

assessment of related factors to make sense of the context.

Therefore is up to BI professionals maximize the ability of organizations to process data analyses and to design future scenarios which are both measurable and innovative by nature.

The link between Intelligence and Innovation is expressed in the way the future scenarios are formulated so that the organization will be able to act upon them.

"All well-designed integrated intelligence process relevant content, appropriate IT tools, and human network into a smooth operation that decision-makers can leverage for sustainable competitive success", Joost Drieman, VP Intelligence Best Practice GIA said.

The Business Intelligence leader

becomes an observer who brings change in organizations in which he/she

operates, this ability empowers him/her, more than other professionals, to be also an agent of innovation.

The Business Intelligence leader today operates in a collaborative system, and he/she is skilled at translating insights into recommendations and plans for future action, which by their nature are new and changing.

There is no innovation without intelligence and vice versa, there is no intelligence without the propensity to innovate business models.

Tom Dahlstrom, OP Pohjola

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₆ 2014, as emerged at the conference, is the year of peer networking and sharing of knowledge between experts of the industry, but also the time in which new models of analysis, which can be based on artificial intelligence and computational capacity in management of big data, should be implemented.

The urgency is dictated by the competition and the need to evolve programs to plans that look not only to competitors but also to consumers, and to the dynamics of co-creation.

The path in recent years which organizations have faced for their ability to accelerate the strategic decision making is well described by what was presented by OP-Pohjola.

Business Intelligence programs bring Innovation in Customer Experience